AC Energy to form renewable JV
Philippine-listed Ayala Corp plans to form a joint venture with Singapore-registered Yoma Strategic Holdings to jointly explore developing 200MW of renewable energy projects in Myanmar. The two partners have signed a binding term sheet to invest at least US$30m in the venture and they also will be looking at participating in utility-scale renewable projects. At present, Yoma Strategic holds 35%, while Norfund and International Finance Corp hold 30% each in YMP, which is also registered in Singapore.
Daily News Highlights
McDermott decline has potential for widespread impact
Oil and gas contractor McDermott’s continuing financial struggles have the potential to impact project-financed assets globally. The market is waiting on news of a turnaround plan or restructuring. By Alison Healey.
Australian renewables go big
Renewable developers are thinking big in Australia. Hydrogen export is one new area but small challenges remain. By John Arbouw.
North Marmara Highway refinanced
The huge road PPP refinancing overcame macroeconomic concerns. Pricing dropped and new debt funded higher construction costs. By Peter Collins
Features
Floating offshore – Contracting challenges
As the offshore wind market is beginning to take off in Asia and potentially the US, including markets with particularly deep water opportunities, we look at some of the issues around floating offshore wind projects. By Nick Carlin, partner UK, and James Harris, partner Singapore, Pinsent Masons.
Palau gets its first international PPP
The first PPP project in Palau achieved first draw-down in August 2019 and could be a model PPP for the country. In this article, Japan International Cooperation Agency (JICA), as sole lender, and Nagashima Ohno & Tsunematsu (NO&T), as lender’s legal adviser, provide an overview of the financing of the renovation, expansion and management of Palau International Airport project and describe some of its notable features. By Yuichiro Sano, Eiichi Murashima and Toshiaki Ano of JICA, and Shinichi Matsui, Rintaro Hirano and Naoko Kamimura of NO&T.
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
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 Yearbook 2019
Welcome to the 2019 Thomson Reuters Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2018, through case studies and the PFI Awards, and look forward into 2019 with interviews and articles in the Global section of the book.
PFI Legal Survey 2019
Refinitiv Project Finance International (PFI) is pleased to launch its survey of law firms in the project and infrastructure finance sector for the seventeenth year running.
The PFI Legal Survey will be published in November. To take part, please complete the survey form contained in this pdf.
PFI Comment
Structuring to go long
There were two stand-out deals in the dollar debt capital markets over the past week – a 60-year financing in Chile and a 20-year deal in India. Both are green deals, of course. Nevertheless for emerging markets these tenors are quite a feat. Expect imitations.
Most Popular
Project Finance MLAs Q3 2019
| # | Arranger | (US$m) | |
|---|---|---|---|
| 1 | MUFG | 11,306.4 | |
| 2 | SMBC | 9,665.6 | |
| 3 | Mizuho | 8,351.4 | |
| 4 | BNP Paribas | 7,386.9 | |
| 5 | Santander | 6,278.1 | |
| 6 | Credit Agricole | 6,119.6 | |
| 7 | Societe Generale | 6,044.3 | |
| 8 | ING | 5,536.2 | |
| 9 | SBI Capital | 4,837.7 | |
| 10 | Natixis | 4,789.9 |
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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