Tuesday, 09 February 2016
Project Finance International held its annual awards dinner in London on Wednesday night at The Hilton on Park Lane. The event was attended by 800 guests who were entertained by after dinner host Romesh Ranganathan. Hiroshi Matano, executive officer, global head of structured finance, picked up the Global Bank of the Year for MUFG. The dinner raised £9,615 for the Save The Children charity, a new high for the event.
Spain has become an investment pariah in the renewables market after its subsidy cuts. The country is now returning to tender new renewable projects but its first auction has led to more controversy. By Stefano Berra.
The global project finance loans market was up again last year, by US$17.7bn to US$277.7bn, but project bond issuance dropped by US$15bn to US$35bn. This meant the commercial project finance market remained around the US$310bn mark. Multilateral activity remained constant in the developing markets but dropped in the developed world.
Welcome to the 2016 Thomson Reuters Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2015, through case studies and the PFI Awards, and look forward into 2016 with articles in the Global section of the book.
As the confidence in the debt markets reaches new post global financial crisis highs and the investment community remains keen on finding new assets to finance, a key question in the report concerns deal flow. Where will the next deals come from?
Telecoms financing is back in the asset funding world. The last time it came around, in the late 1990s, it was wrapped up in the dotcom boom. Everyone – from mining penny stocks to the crooked e, enron.com – became dotcom stocks. This time around, it is the infrastructure sector that is influencing telecoms rather than telecoms influencing infra.
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The PFI EMEA report provides valuable insights into the market via case studies of leading deals in the region and articles covering key issues. The report details two of the major deals this year - Thames Tunnel Tideway and the Veja Mate offshore windfarm – plus the cheapest solar tariff deal in Dubai. The report looks at projects as diverse as Port of Calais, Maamba Power and Breda court and examines how they were structured and financed.
It’s been a year since Narendra Modi – the leader of Bharatiya Janata Party, has been elected into power to head the Indian government. Last year, the PFI report looked at “Rebooting India”, offering ideas and proposals from the financial market and developers on how to ease the bottleneck and problems facing infrastructure development. Since then, the government has started to introduce more transparency in the implementation of pro-growth policies.