Thursday, 20 February 2020
The US solar market has roughly 100GW of projects in planning, including 35GW contracted under power purchase agreements (PPAs) and 40GW that includes battery storage. About 350GW of wind power is under development globally, analysts said, but US offshore wind remains “uneconomical,” with the levelised cost of energy (LCOE) estimated at US$85 per MWh without a federal subsidy. Analysts said there are “signs of firm commitment” to the US offshore projects in the near term, however.
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.
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.
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.
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.
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.
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.
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.
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