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Project Finance International (PFI) has been at the forefront of project finance reporting for the last 25 years. It is the most comprehensive and authoritative publication to serve the industry, covering all the major sectors, including transport, power, oil & gas, infrastructure and mining.

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Daily News

Metis Gunsynd solar to FC

Metis Energy has achieved financial close on the 111MW Gunsynd solar farm in Goondiwindi, Queensland, with green loan debt from DBS, SMBC and Siemens Bank. The project is Metis’ first in Australia, after the Singapore Exchange-listed company acquired it in late 2022 from SkyLab Energy.

PFI Comment

Public versus private valuations

Valuing an asset is at the heart of the capitalist system, indeed one could say at the heart of any economic transaction. The ultimate value of an asset is what someone or something is prepared to pay for it. In the absence of a formal sales price, valuations are calculated using a whole variety of scenarios. And that is where the fun starts. Solar assets sell for a 35% premium but trade at a 30% discount to net asset value.

PFI Special Report

PFI Global Infrastructure Report 2023

Project Finance International has published its yearly Global Infrastructure Report, 52 pages of analysis on the issues and trends impacting the project finance infrastructure market. The report contains profiles of leading equity and debt investors in the sector at a time of rising interest rates and construction prices. It dives into new sectors as such EV charging and data centres and profiles more traditional sectors such as airports. PPP growth markets such as those in the Gulf are detailed To see the digital version of this report, please...

CDPQ infra portfolio grows with greenfield

CDPQ has more than tripled its infrastructure portfolio over the past five years. Infrastructure head Emmanuel Jaclot is focused on optimisation of portfolio companies and taking advantage of greenfield growth. By Alison Healey.

DIF invests in a changing world

Infrastructure equity fund manager DIF sees current high interest rates as potentially having longer-term positive implications for infrastructure investors, rather than acting as a brake on the financing of projects. By Nick Herbert.

EDRAM's BRIDGE rides the waves

Despite soaring inflation, rounds of interest rate hikes, and a war in Europe, EDRAM is making record deployments and is optimistic for its latest fund raise, BRIDGE VI. By Nick Herbert.

California EV - Phone home

The need for ubiquitous electric vehicle infrastructure poses a significant impediment to the electrification of the transportation sector in California and beyond. By Barry Epstein and Dana Palmer, Allen Matkins.

Navigating a successful US airport P3

Walking through LaGuardia Airport in 2023, you might forget that just a few years ago the terminals were woefully out of date. By Karol Denniston, global project partner, Alethia Nancoo and Catherine Romanchek, partners, public infrastructure and finance, Squire Patton Boggs.

LatAm airports back in the air

Countries across Latin America are announcing major airport investments as air travel ramps up again after the pandemic. Financings will benefit from strong support. By Nic Stone.

Bulacan to win Philippines airport race

Driven by robust economic growth and rising demand for infrastructure, the Philippines is one of a number of markets that we expect will stand out for infrastructure investment over the coming years. By Tim Kerckhoff, infrastructure analyst, BMI Research, a Fitch Solutions company.

Monetising Indian infra assets

Infrastructure Investment Trusts involve raising debt by pooled investment vehicles facilitating infrastructure asset monetisation. By Santosh Janakiram. partner, head, projects, Kranti Mohan, partner, head, REITs and InvITs and Sangita John, partner, Cyril Amarchand Mangaldas.

Lessons from Singapore data centres

It is estimated that by 2025, every person in the developed world will have at least one interaction with a data centre every 18 seconds of their life. By Alfred Ng, Rebecca Cope, Andrew Hilton and Choo Yi Ming, Ashurst ADTLaw.

OFTO model for Australia

The answer is blowin' in the wind – why Australia should look abroad for its offshore energy transmission framework. By Vaughan Wallace, Head of Asia-Pacific, Amber Infrastructure,

Construction market ebbs and flows

The construction sector is likely to remain well supported in coming years by publicly funded climate-related infrastructure projects. Increased construction activity should keep prices of building materials underpinned, but underlying geopolitical uncertainty brings the threat of volatility and delivery concerns. By NICK HERBERT.

Allego charges up for PF

European EV charging infrastructure developer and operator Allego is looking at a capex programme of about €1bn over the next five to six years. With its recently financed capex facility expected to last until mid-2024, Allego will need to either extend it or raise new PF debt. By JORDAN BINTCLIFFE.

Building the emerging market PPP base

As PPPs rise in popularity across many of the EBRD’s countries of operation, the bank is scaling and tailoring its impact with new country-specific project preparation facilities and with collaborative advisory services with the World Bank’s IFC. By Cristiana Sandeva.

PPPs in Israel back stronger than ever

Public-private partnerships for infrastructure across Israel are booming and attracting more international developers and financiers to the country. By Cristiana Sandeva

NOOR 2 – Lighting up PPPs

The GCC countries, mainly the United Arab Emirates and Saudi Arabia, have recently expanded their use of the PPP model outside the traditional utility, power and water, and oil and gas space and into the social infrastructure space. PPPs have proved to be a great tool to de-risk these replacement projects and maximise the potential for sustainable and cost-effective solutions over the long term. By Savio Tohme, head of PPP and concessions, Maxime Rousselet, technical project development manager, ENGIE Solutions Middle East, and Rohit...

Saudi Arabia and the PPP boom

The significance of public-private partnerships (PPPs) is paramount in the economic transformation of Saudi Arabia. By Ghazali Inam, senior vice-president, corporate banking division, Riyad Bank.

PFI Yearbook

Foreword

Welcome to the 2024 Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2023 through case studies and the PFI Awards, and look forward into 2024 with a range of themed articles and profiles in the Global section of the book. It was an extremely active year this year in the project finance arena but at the same time it had the feeling of a slowdown. Maybe it depended on where you were, geographically and sectorally. There was no holding back the LNG sector with some truly mega...

Latest Financed Deals

DateProject NameRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
EdgeCore Silicon Valley Data Center Campus ProjectNorth AmericaUnited StatesTelecommunications, Telecommunications440.000Edgecore DigitalMILBANK-LLP
2600 Biscayne Boulevard ProjectNorth AmericaUnited StatesLeisure & Property, Leisure & Property181.000Oak Row Equities Svcs Llc
Eldorado Solar ProjectNorth AmericaUnited StatesPower250.000Sol Systems LLC
CSF Tabernas ProjectEMEASpainPower77.910X-Elio Energy SLEVERSHEDS-S, WAT-FARLEY-WIL
Corpus Christi Liquefaction ProjectNorth AmericaUnited StatesOil & Gas17,700.000Cheniere Energy IncSOC-GENSULLIVAN, ANDREWS-KURTH, NORTON-ROSE-FUL, SKADDEN-ARPS, CHADBOURNE-PARKE, MILBANK-LLP
Adani Green Energy / TotalEnergies India Utility Scale Solar Power Portfolio ProAPACIndiaPower409.000Adani Green Energy Ltd, TotalEnergies SE
Hive Energy Europe Solar, Green Hydrogen, Battery Storage, Wind & Green AmmoniaEMEACroatiaPower, Power, Power, Power, Petrochemicals24.130Hive Energy Ltd
StormFisher E-Fuel Production Facility Pipeline ProjectNorth AmericaUnited StatesPetrochemicals30.000StormFisher Hyrdogen Ltd, ARC Financial Corp
Serrano Solar and Storage ProjectNorth AmericaUnited StatesPower, Power648.690Longroad Energy Partners LLCWINSTON-STRAWN, MAYER-BROWN-LLP
South Australian Adelaide Schools PPP ProjectAPACAustraliaLeisure & Property169.880Tetris Capital Pty Ltd, Dutch Infrastructure Fund BV, Sarah Group Holdings Pty LtdWHITE-CASE, GILBERT-TOBIN
Date
Project NameEdgeCore Silicon Valley Data Center Campus Project2600 Biscayne Boulevard ProjectEldorado Solar ProjectCSF Tabernas ProjectCorpus Christi Liquefaction ProjectAdani Green Energy / TotalEnergies India Utility Scale Solar Power Portfolio ProHive Energy Europe Solar, Green Hydrogen, Battery Storage, Wind & Green AmmoniaStormFisher E-Fuel Production Facility Pipeline ProjectSerrano Solar and Storage ProjectSouth Australian Adelaide Schools PPP Project
RegionNorth AmericaNorth AmericaNorth AmericaEMEANorth AmericaAPACEMEANorth AmericaNorth AmericaAPAC
CountryUnited StatesUnited StatesUnited StatesSpainUnited StatesIndiaCroatiaUnited StatesUnited StatesAustralia
SectorTelecommunications - TelecommunicationsLeisure & Property - Leisure & PropertyPowerPowerOil & GasPowerPower - Power - Power - Power - PetrochemicalsPetrochemicalsPower - PowerLeisure & Property
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Latest Pipeline Deals

DateProject NameStatusRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
Mindoro Wind ProjectAnnouncedAPACPhilippinesPower0.000Echo Wind Power Corp
Mineral Resources Goldfields Lithium Processing Hub ProjectAgreement SignedAPACAustraliaIndustry0.000Mineral Resources Ltd
Minas Gerais Public Schools Portfolio PPP ProjectContract SignedLATAMBrazilLeisure & Property200.200Minas Gerais
Aviva Portfolio Of Onshore Wind & Renewable Assets Acquisition ProjectAnnouncedEMEAUnited KingdomPower0.000Aviva Invs Global Svcs Ltd
IRB Infrastructure Trust Acquisition ProjectSale Agreement SignedAPACIndiaTransportation794.790IRB Infrastructure Developers, GIC Private Ltd
Prime Teknologies Nigeria Solar Plant ProjectAnnouncedEMEANigeriaPower0.000Prime Teknologies Ltd
Catanzaro Battery Energy Storage System Acquisition ProjectSale CompletedEMEAItalyPower0.000Greengo SrlWAT-FARLEY-WIL
Eco Resources Acquisition ProjectSale Agreement SignedAPACAustraliaWaste & Recycling0.000PLANUM-PARTNERSKING-WOOD-MAL
Excelsior Fund I US Solar Wind and Battery Storage Portfolio Acquisition ProjectSale CompletedNorth AmericaUnited StatesPower, Power0.000Excelsior Energy Capital LP, Blackrock Private EquityMS, KEYBANCAKIN-GUMP
MPower/Ally Power Philippines Hydrogen & Electric Refueling Station ProjectAgreement SignedAPACPhilippinesPower400.000MPower Inc, Ally Power Inc
Date
Project NameMindoro Wind ProjectMineral Resources Goldfields Lithium Processing Hub ProjectMinas Gerais Public Schools Portfolio PPP ProjectAviva Portfolio Of Onshore Wind & Renewable Assets Acquisition ProjectIRB Infrastructure Trust Acquisition ProjectPrime Teknologies Nigeria Solar Plant ProjectCatanzaro Battery Energy Storage System Acquisition ProjectEco Resources Acquisition ProjectExcelsior Fund I US Solar Wind and Battery Storage Portfolio Acquisition ProjectMPower/Ally Power Philippines Hydrogen & Electric Refueling Station Project
RegionAPACAPACLATAMEMEAAPACEMEAEMEAAPACNorth AmericaAPAC
CountryPhilippinesAustraliaBrazilUnited KingdomIndiaNigeriaItalyAustraliaUnited StatesPhilippines
SectorPowerIndustryLeisure & PropertyPowerTransportationPowerPowerWaste & RecyclingPower - PowerPower
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