German wind tariffs up
Tariffs for onshore wind farms in Germany have increased to €61.60 per MWh in the August tender round, up from €57.30/MWh in May and €47.30/MWh at the beginning of the year. Wind power tariffs have grown for the past three auctions and have now surpassed the €57.10/MWh level recorded in the inaugural tender. They are markedly higher than the record-low €38.20/MWh reached in November 2016. The Federal Network Agency blamed “weak competitive pressure” for the price increase.
Daily News Highlights
Competition pushes pricing down
The wave of capital in the US power project finance space is pushing pricing down. Borrowers are extracting great terms for M&A and greenfield deals. By Nic Stone.
Renewable financings see tenors shorten
Shorter tenors have come back into fashion in the Australian renewables market. Local lenders are to the fore once again. By John Arbouw.
Small tsunami fuels Nordic wind boom
Financial investors are pouring money into Nordic wind farms. The range of revenue streams and risks for Scandinavian renewable projects is broadening. By Stefano Berra.
Features
REIPPP Round 4 financings draw to a close
After three years of delays, all 27 projects from Round 4 of South Africa’s REIPPP tender have signed their financing documents. The results show slight to moderate improvements in terms, as well as some structural innovation, compared with the 15 Round 3 projects, which were all financed by early 2015. By Peter Collins.
A narrative in patience and perseverance
How many times in Asia have those active in the regional energy and infrastructure project markets heard a particular country described as having “such tremendous need for energy and infrastructure investment” or, my own favourite, “that country X has so much potential for investors/bankers/advisers”, etc. By James Harris, partner, Jones Day.
Fair winds for offshore wind in the US
While offshore wind energy infrastructure has blossomed in Europe, it has been slow to take off in the United States. But the tide is shifting, and activity in this sector is ramping up, with a number of states leading the way forward. By Jane Rueger, Kirsti Massie and Marius Griskonis, partners, White & Case LLP.
2018 PFI Yearbook
Welcome to the 2018 Thomson Reuters Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2017, through case studies and the PFI Awards, and look forward into 2018 with interviews and articles in the Global section of the book.
PFI Global Infrastructure Report 2018
The global infrastructure market is moving into new territories - both geographically and sector wise. PFI’s Global Infrastructure Report 2018 takes look at the new kids on the block and in addition, some of the legacies from the old era. The Report carries case studies on deals as diverse as German fibre optic, the Canakkale Bridge and the Los Angeles people mover scheme. In addition it carries in depth pieces on the construction woes which befell Carillion and the Canadian super hospitals.
PFI Global Energy Report 2018
Developments in the LNG market and the spread of increasingly cheap renewable technology are dominating the global energy market. PFI’s Global Energy Report 2018 examines the driving forces behind these and other trends through case studies of landmark deals and articles on important market shifts. The report looks at new technology such as energy storage and new funding options for renewables.
PFI Comment
Hard and soft options
Hard, clear-cut decisions are probably easier to make than those requiring a more nuanced approach. The Midland Metropolitan contract and M25 debt procurement decisions show the point.
Most Popular
Project Finance MLA 2018 H1
| # | Arranger | (US$m) | |
|---|---|---|---|
| 1 | MUFG | 5,889.1 | |
| 2 | SMBC | 4,577.9 | |
| 3 | Societe Generale | 3,295.7 | |
| 4 | ING | 3,264.3 | |
| 5 | Credit Agricole | 3,220.3 | |
| 6 | Santander | 3,209.3 | |
| 7 | Morgan Stanley | 2,687.5 | |
| 8 | BNP Paribas | 2,665.9 | |
| 9 | Mizuho | 2,450.8 | |
| 10 | ICBC | 2,313.5 |
Digital Edition
Access a digital edition of the latest print magazine here. Access the digital edition of the PFI Yearbook 2018 here.
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