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Sunday, 23 February 2020

Oyu Tolgoi

Rio calls for arbitration

Rio Tinto is calling in arbitrators to seek a resolution to the US$155m tax bill that the government claims is owed on the Oyu Tolgoi copper mine. The dispute concerns taxes paid by Oyu Tolgoi between 2013 and 2015. Oyu Tolgoi paid US$4.5m last year but the government says more tax is due. Disputes, cost blowouts and underground project delays have become a regular part of the huge project.

Transmission

Illinois plots path to PJM exit

PFI Issue 666 - February 12, 2020

Capacity market chaos at the PJM Interconnection has prompted one state to prepare an exit. The departure of Illinois would have a huge impact on overall market dynamics. By Alison Healey.

Offshore wind

Japan's first OWP loan signed

PFI Issue 666 - February 12, 2020

It has been a long time coming but the first Japanese offshore deal has been signed. It is expected to lead to a host of new deals. By Minerva Lau.

Power Plant

UK power prices under pressure

PFI Issue 666 - February 12, 2020

UK power prices have fallen back sharply over the last year to decade lows. Just as importantly, medium to long-term power price forecasts have fallen back. By Rod Morrison.

Features

AI

How AI is paving the way for smart infra

PFI Issue 666 - February 12, 2020

Many professionals believe artificial intelligence (AI) can lead to increased and new opportunities. Yet this now goes beyond the sphere of technology, impacting various other sectors including infrastructure. Anne-Christine Champion, global head of real assets at Natixis CIB, discusses how AI is paving the way for smart infrastructure.

Wind farm

Breaking new ground with YEKA

PFI Issue 666 - February 12, 2020

Turkey’s YEKDEM scheme encouraged localisation of equipment manufacturing by offering an increase in feed-in tariffs for renewable projects that utilise domestically manufactured equipment. The YEKA scheme goes one step further by mandating the use of domestically manufactured equipment in projects that are tendered under the YEKA Regulation. By Ayesha Waheed, partner in London at global law firm Morgan Lewis, and Cagdas Evrim Ergun, partner in Ankara at Ergun Law Offices.

PFI Yearbook 2020 Cover

PFI Yearbook 2020

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.

PFI global infra cover 19

PFI Global Infrastructure Report 2019

PFI Global Infrastructure Report 2019

The global infrastructure market in 2019 has seen a range of deals financed and plenty of new plans hatched. The problems in the contracting sector remain, however. PFI’s Global Infrastructure Report 2019 case studies leading deals such as Gordie Howe, Florida Rail, Paraguay’s Corredor Bioceanico, Shuqaiq IWP, Tours-Bordeaux and Belgrade Airport. Themes such as China’s Belt & Road and Thailand’s Eastern Economic Corridor are examined and the problems with US and Australian construction projects are revealed.

PFI Global Energy Report 2019

PFI Global Energy Report 2019

PFI Global Energy Report 2019

The renewables sector remained the most vibrant energy market over the past year, while the TAP pipeline brought back attention to mega oil & gas projects. PFI’s Global Energy Report 2019 looks at emerging renewables markets, such as Poland and Vietnam, alongside established ones, such as Belgium and Scotland, with an eye on the boom under way in Spain and Australia. The report examines new structures such as US energy P3s and Asian Green bonds and offers an outlook on LNG and FPSO financings. 

PFI Comment

thermal power

Deflation looms

The fall in energy prices around the world in recent weeks has been dramatic. The fallout could be even more dramatic as thermal energy starts to become very cheap once again.

Project Finance MLAs 2019

# Arranger (US$m)
1 MUFG 16,150.8
2 SMBC 15,980.6
3 Mizuho 12,642.1
4 SBI Capital 11,338.0
5 BNP Paribas 10,003.9
6 Santander 9,805.7
7 Societe Generale 9,400.8
8 ING 9,263.9
9 Credit Agricole 9,215.4
10 Bank of China 7,628.9

Digital Edition

Access a digital edition of the latest print magazine here. Access the digital edition of the PFI Yearbook 2019 here.

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