Saturday, 30 April 2016
A consortium of 3i Infrastructure, Heijmans and Ballast Nedam have reached financial close on the Hart van Zuid regeneration PPP project in Rotterdam. 3i will hold a majority stake in the project, investing €5m, while the two contractors will hold minority stake. BNG was the sole lender, providing about €30m of debt on an 18-year tenor. The PPP is backed by a concession running until 2043, for a total value of €200m. The private partners will redevelop an area around the Zuidplein and Ahoy centres in southern Rotterdam, building an international conference centre, a music hall, a cinema and a hotel in the Ahoy centre, and an art building with a library and theatre on the new Plein op Zuid square. In addition, the Zuidplein shopping centre will be expanded, a new 50m swimming pool will be built in a municipal hall and transport connections will be improved. Construction works are due to start in the second quarter.
A trailblazing merchant-risk rural broadband PPP has been financed in France. Infra funds are circling Ireland’s nationwide plan but questions remain on its structure. By Stefano Berra and Colin Leopold.
Nuclear power plants are among the most complex infrastructure projects to develop. Sponsors of new nuclear power plants must manage complicated stakeholder relationships, including host and exporting country governments and governmental authorities, shareholders and prospective equity investors, technology exporters and other project participants, and local and global communities and citizens that invariably hold split opinions on the topic of nuclear power. By Jason J Crowell, managing partner, and Viet H Nguyen, an associate, at Peace Crowell LLP.
The electricity systems we have developed over the last century are now facing an urgent need for redesign. The increasing share of intermittent renewable energy sources such as solar and wind, the increased electrification of society, the rise of prosumers and distributed generation all pose challenges to existing electricity systems globally. By Simon Currie, partner and global head of energy based in Sydney and Matthijs van Leeuwen, of counsel energy in Amsterdam, at global law firm Norton Rose Fulbright.
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.
The extraordinary events in Edinburgh’s schools over the last week will have done little to further the cause of the concession-based model for procuring infrastructure. It is to be hoped it is a one off event, otherwise a fault line has emerged in the PFI/PPP/P3 model.
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