Friday, 12 February 2016
Adani Power plans to invest a total of Rs184bn (US$2.7bn) to set up two greenfield power plant projects in the Indian state of Karnataka, the company said in a filing on Thursday. It has entered into an agreement with the state to set up two 800MW coal-based supercritical power plants in Karnataka, with an investment of Rs114bn. Its subsidiary Adani Green Energy has also signed an expression of interest to set up a 1,000MW solar power plant in the same state with an investment of Rs70bn.
There are approximately 7.67bn mobile phones in the world, compared with 7.44bn people. Smartphones have now overtaken laptops as the most popular device for accessing the internet and these devices have transformed the way we now communicate with each other. By John Franchini and Oliver Irwin of Milbank Tweed Hadley & Mccloy LLP, Nick Flitterman of Portland Advisers and Larry Schwartz of Seaborn Networks.
The Azura-Edo independent power project (IPP) lays claim to a number of firsts. It is Nigeria’s first fully privately financed IPP – the first of a new wave of project-financed greenfield IPPs currently being developed in the country. It is also the first power generation project in Nigeria to receive World Bank Partial Risk Guarantee and Multilateral Investment Guarantee Agency (MIGA) support. By Russell Wells, partner, Vicky Ta, senior associate and Tom Jamieson, senior associate, Clifford Chance.
Welcome to the 2016 Thomson Reuters Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2015, through case studies and the PFI Awards, and look forward into 2016 with articles in the Global section of the book.
As the confidence in the debt markets reaches new post global financial crisis highs and the investment community remains keen on finding new assets to finance, a key question in the report concerns deal flow. Where will the next deals come from?
The hope among commentators looking at the emerging markets is that economies that have relied on revenues from commodities and oil and gas will now look to continue to grow by funding new projects, and perhaps using external debt to do so. Unfortunately, it ain’t necessarily so…
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The PFI EMEA report provides valuable insights into the market via case studies of leading deals in the region and articles covering key issues. The report details two of the major deals this year - Thames Tunnel Tideway and the Veja Mate offshore windfarm – plus the cheapest solar tariff deal in Dubai. The report looks at projects as diverse as Port of Calais, Maamba Power and Breda court and examines how they were structured and financed.
It’s been a year since Narendra Modi – the leader of Bharatiya Janata Party, has been elected into power to head the Indian government. Last year, the PFI report looked at “Rebooting India”, offering ideas and proposals from the financial market and developers on how to ease the bottleneck and problems facing infrastructure development. Since then, the government has started to introduce more transparency in the implementation of pro-growth policies.