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Daily News

Ministries confirm 10 offshore wind sites

Ten potential sites have been confirmed for new offshore wind projects in Japan. In a joint statement today, the Agency for Natural Resources and Energy of the Ministry of Economy, Trade and Industry, and the Port Authority of Japan under the Ministry of Land, Infrastructure, Transport and Tourism, said that preparations have been made and the sites are officially designated as “promotion areas” under the new Renewable Energy Use Law.

PFI Comment

Charging forward

The first thing I did during lockdown was to fill up my car with petrol – which shows why I am not an oil price forecaster. In a decade the first thing I would do every night would be to charge up my car via the power mains.

PFI Special Report

PFI Global Infrastructure Report 2020

The global infrastructure finance market is coping with a range of new realities following the Covid-19 pandemic. PFI has published its 2020 Global Infrastructure Supplement as the market starts to understand the long term consequences. The report looks at the new data and telecoms boom, case studies a range of infra deals financed this year, looks at new sectors and opportunities and reviews the impact of Covid-19 on the global infra finance sector. To see the digital version of this report,

How data infrastructure saved 2020

Recent months have made 2020 look as though it had been cancelled outright. Like many people across Europe, I’ve only left my home in the Oxford countryside to make trips to the local post office, carefully sporting the latest fashion of surgical gloves and an anti-viral mask. Dreams of holidays to get some desperately needed vitamin D in southern France are distant memories; as are visits to family or friends. Others throughout the UK may have held back a grimace as breaking news pinged through to their phones last week – Schools won’t reopen until September. By Jordan Bintcliffe.

FTTH sector provides infra boost

There have been a whole range of fibre to the home (FTTH) deals in the months leading up to lockdown and it is not going to stop any time soon. By Laurent Chabot, co-head of Infrastructure Finance, Paris, and Jonathan Tweed, head of TMT Finance, London, Societe Generale.

DCPCs bridge the beltway gap

On April 9 2020, a private contractor was able to raise US$281m of proceeds in the US municipal bond market to finance the construction of the Lincoln South Beltway, a new 11-mile east-west highway south of Lincoln, Nebraska. By Barney Allison, partner and Brandon Nguyen, associate, Nossaman LLP.

Ontario Line charts path to reality

The massive project has the potential to transform Toronto transit but faces formidable obstacles. By Alison Healey.

Hokkaido 7 – The financing

The bundled Hokkaido 7 Airport Concession Project reached financial close on December 19 2019, becoming the largest ever project finance transaction in Japan. By Taro Kanayama, senior vice-president, Project Finance Department, Mizuho Bank, Japan.

A3 – Germany’s largest motorway PPP

In April, financial close on the 30-year public-private partnership (PPP) of the A3 motorway in Germany was reached by A3 Nordbayern GmbH & Co KG, a project company whose shareholders are Eiffage SA and Johann Bunte Bauunternehmung GmbH & Co KG. By Robert Hofbauer, counsel, Finance & Projects, Torsten Pokropp, partner, Head of German Finance & Projects Practice, Frank Roth, partner, Public Procurement, and Lars Warrink, and Goran Nilsson, directors, Structured Finance Office for EMEA, MUFG Bank Ltd.

The construction infra problem

Mega infrastructure PPP projects in Melbourne, Sydney and New Zealand are running into problems, with sponsors and contractors at each other’s throats and in the courts to resolve issues arising from unexpected difficulties during construction. By John Arbouw.

Energy system P3s at US universities

The use of public-private partnerships by public universities in the United States is not an entirely new or recent concept. P3s have become an established method for procuring student accommodation projects, with at least eight such projects reaching close last year alone. By Dolly Mirchandani, partner, and Claire Watson, counsel, White & Case LLP.

Brazil’s bright infrastructure spot

With a maligned leader and as one of the world’s worst pandemic hot-spots, Brazil is looking to infrastructure to brighten the gloom. By Nic Stone.

Kazakhstan’s health PPP programme

In this article we give an overview of Kazakhstan’s public-private partnership (PPP) law and its application to the healthcare sector in Kazakhstan. By Ayesha K Waheed, partner, Asem Bakenova, international partner, Nur-Sultan, and Daniyar Zhumakhanov, associate, Almaty, Morgan Lewis.

Turkish health PPPs in a pandemic

The effects of the Covid-19 pandemic have had a considerable impact on Turkish health public-private partnership projects and it is worth examining the challenges that have been created as a result. By Devrim Ergun, partner, and Nigar Özbek, senior associate, Çakmak Avukatlik Ortakligi.

Achieving AfCFTA’s infra objectives

The ratification of the Africa Continental Free Trade Agreement is a milestone that has been celebrated across the continent. By Banji Fehintola CFA, senior director and head of treasury and financial institutions at Africa Finance Corporation.

Asset recycling – Leveraging infra capital

The concept of asset recycling has emerged as a noteworthy option to unlock private and institutional investment towards infrastructure assets. By Sharad Somani, partner and the ASPAC head of infrastructure, and Jun Yan, manager, with KPMG Singapore’s Infrastructure Advisory practice.

Airport P3s – Looking down the runway

After a slow start, airport public-private partnerships (P3s) were finally starting to find some traction in the US in recent years, with several significant projects reaching financial close. By Roderick Devlin, partner and Angelica Valencia, partner, Nixon Peabody LLP.

Airports – A long ramp-up recovery period

It is very difficult to understand how the future will evolve in many sectors, given the current market conditions, but particularly for economic infrastructure assets such as airports. By project financier Ian Dixon.

Covid and infra – Challenges and opportunities

Infrastructure stakeholders around the globe are assessing what challenges and opportunities the coronavirus presents for the sector. By Richard Abadie, PwC, Global Capital Projects & Infrastructure Leader, and Yvonne Welsh, PwC, senior manager, Capital Projects & Infrastructure.

Covid impact on Asian infra

The impact of the coronavirus pandemic creates risks that are far beyond what has been experienced in the infrastructure and project finance sectors in many decades. The wide range of transactions, from enterprise to project structures, single-asset to multi-asset, demand-based to contracted, and single jurisdiction to multi-jurisdiction provide for a wide variety of potential effects. By Sajal Kishore, senior director and head of Asia-Pacific Infrastructure and Project Finance, Fitch Ratings.

PFI Yearbook

PFI Yearbook 2020

Welcome to the 2020 Refinitiv Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2019, through case studies and the PFI Awards, and look forward into 2020 with a range of articles in the Global section of the book.

Latest Financed Deals

DateProject NameRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
Project KamloopsNAUnited StatesPower, Power402.420Capital Dynamics AG
Windpark Zeewolde ProjectEMEANetherlandsPower, Power583.280Stichting
Sonnedix portfolio acquisition ProjectEMEASpainPower16.950Sonnedix Espana SluCLIFFORD-CHANCE
Kutch Gujarat Wind Power ProjectAPACIndiaPower26.310Alfanar Group
Mumbai - Pune Expressway ProjectAPACIndiaTransportation141.310Mhaiskar InfrastructureBAJAJ-CONSULT
Project GalaxyEMEAUtd Arab EmOil & Gas, Oil & Gas7,960.000Snam SpA, Ontario Teachers' Pension Plan, NH Investment & Securities Co, GIC Pte Ltd, Brookfield Asset Management, Global Infrastructure I
Tereos Sugar and Ethanol ProjectLATAMBrazilIndustry, Industry105.000
Sigurd Solar ProjectNAUnited StatesPower, Power116.900DE Shaw Renewables Investments
Spectra Solar Park ProjectAPACBangladeshPower50.000Shunfeng Investment Co Ltd, Spectra Engineering PCGDELTAMAYER-BROWN-LLP, ANDERSON-ASSOC, LATHAM-WATKINS, FAROOQ-ASSOC
Espoo School PPP ProjectEMEAFinlandLeisure & Property117.890Meridiam SAS, YIT OyjKROGERUS-LAW
Date
Project NameProject KamloopsWindpark Zeewolde ProjectSonnedix portfolio acquisition ProjectKutch Gujarat Wind Power ProjectMumbai - Pune Expressway ProjectProject GalaxyTereos Sugar and Ethanol ProjectSigurd Solar ProjectSpectra Solar Park ProjectEspoo School PPP Project
RegionNAEMEAEMEAAPACAPACEMEALATAMNAAPACEMEA
CountryUnited StatesNetherlandsSpainIndiaIndiaUtd Arab EmBrazilUnited StatesBangladeshFinland
SectorPower - PowerPower - PowerPowerPowerTransportationOil & Gas - Oil & GasIndustry - IndustryPower - PowerPowerLeisure & Property
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Latest Pipeline Deals

DateProject NameStatusRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
Hanoi City 75MW Waste-to-Energy Power ProjectAnnouncedAPACVietnamWaste & Recycling, Power0.000China Tian Ying IncFRESH-BRUCKHAUS
Sese coal-fired power plant ProjectAnnouncedEMEABotswanaPower0.000Phokoje Power (Pty) Ltd
North Sea IslandAgreement SignedDenmarkDenmarkPower, Power0.000
North Sea IslandAgreement SignedDenmarkDenmarkPower, Power0.000
Port of LA Rooftop ProjectAnnouncedNAUnited StatesPower, Power0.000True Green Capital Fund IiiKIRKLAND-ELLIS
Dix ProjectAnnouncedNAUnited StatesPower, Power0.000True Green Capital Fund IiiKIRKLAND-ELLIS
Ina Energy Solar power plant projectAnnouncedAPACTaiwanPower0.000Ina Energy Corp
Coburn mineral sands ProjectAnnouncedAPACAustraliaMining180.150Strandline Resources Ltd
Intertoll Investment B.V Portfolio AcquisitionAnnouncedEMEAHungaryTransportation78.800Oriole Invests Cooperatie U.A, Lancaster Group(Pty)LtdBAKERMCKENZIE, ALLEN-OVERY
Casablanca-Settat Tranway lines and Road PPP ProjectAnnouncedEMEAMoroccoTransportation0.000CLIFFORD-CHANCE, ALLEN-OVERY
Date
Project NameHanoi City 75MW Waste-to-Energy Power ProjectSese coal-fired power plant ProjectNorth Sea IslandNorth Sea IslandPort of LA Rooftop ProjectDix ProjectIna Energy Solar power plant projectCoburn mineral sands ProjectIntertoll Investment B.V Portfolio AcquisitionCasablanca-Settat Tranway lines and Road PPP Project
RegionAPACEMEADenmarkDenmarkNANAAPACAPACEMEAEMEA
CountryVietnamBotswanaDenmarkDenmarkUnited StatesUnited StatesTaiwanAustraliaHungaryMorocco
SectorWaste & Recycling - PowerPowerPower - PowerPower - PowerPower - PowerPower - PowerPowerMiningTransportationTransportation
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