Tuesday, 06 October 2015


Kriegers Flak attracts eight

Eight developers have been pre-qualifed for the 600MW Kriegers Flak offshore wind farm in the Danish Baltic, the largest-ever number of applications for an offshore wind project in the country. The Danish Energy Agency said it will examine whether the applications meet the economic, financial and technical minimum criteria before publishing the final bidding list later this month. Full bids will be submitted in November 2016. Four firms – Vattenfall, Dong, E.ON and Statoil – were pre-qualified for the 400MW Horns Rev 3, which was won by Vattenfall in February.


Market looks at CP structuring

PFI Issue 561 - September 23, 2015

New risk mitigation and financing structures are expected to emerge in PJM. Lenders will have to settle into the realities of capacity performance. By Alison Healey.

ndian billionaire Gautam Adani

Adani taps 5/25

PFI Issue 561 - September 23, 2015

Adani has concluded a 5/25 refinancing, easing the pressure on cashflows. Other major players will soon be following. By Minerva Lau.


First offshore bond for Gode Wind

PFI Issue 561 - September 23, 2015

Offshore wind leader Dong has established a new source of liquidity for its projects. Bank debt might be cheaper but Dong is keen on the bond market. By Stefano Berra.


Aanekoski pulp mill

Juncker plan starts to bear fruit

PFI Issue 561 - September 23, 2015

Finnish pulp producer Metsä Fibre Oy, a part of Metsä Group, has announced its decision to build the world’s first next-generation bioproduct mill in Äänekoski, Finland. The decision was preceded by a careful study, the final year of which was done in public, of the overall feasibility of the project. Before the final decision was made, an environmental impact analysis was completed, the essential environmental permits were obtained, the main equipment delivery contracts were agreed and the availability of financing was ensured. By Gunnar Westerlund, partner, Roschier, and Metsä Group’s treasurer Ari-Pekka Latti.

An Efeler unit

Unlocking Turkey's geothermal potential

PFI Issue 561 - September 23, 2015

Turkey is the sixth largest electricity market in Europe and one of the fastest-growing, needing minimum additions of 2.5GW–3GW of new generation capacity each year to satisfy demand. By Andi Aranitasi, senior banker, Robert Kesterton, principal banker and Erdem Yasar, principal banker, the EBRD.

PFI Global Infrastructure Report Cover 2015

PFI Global Infrastructure Report 2015

PFI Global Infrastructure Report 2015

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?

PFI Global Energy Report 2015 cover

PFI Global Energy Report 2015

PFI Global Energy Report 2015

With global energy markets in a state of flux following the collapse in the oil price from last autumn onwards, the timing of the publication of the report could not be better.

PFI EMEA Report Cover 2015

PFI EMEA Report 2015

PFI EMEA Report 2015

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.

PFI India Report 2015 cover

PFI India Report 2015

PFI India Report 2015

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.

Asia Best Practice Citations Announced

The Project Finance International Best Practice Citations for 2015 have been granted to highlight practice in the construction of large-scale energy and infrastructure projects. Please click headline above to see the Citations and project descriptions. 

PFI Legal Survey 2014/2015

Thomson Reuters Project Finance International (PFI) is pleased to launch its survey of law firms in the project and infrastructure finance sector for the fifthteenth year running.

The PFI Legal Survey will be published in November. To take part, please complete the survey form contained in this pdf.

Sizewell B

Glowing in the dark

“All he ever wanted to do was glow in the dark.” I remember that quote from some time ago, well a long time ago, and was reminded of it when reading the comments of a leading UK politician recently. Then up pops said politician George in China. Unfortunately, the lights were on so he could not glow but he could certainly crow.

Project Finance MLA 2015 H1

# Arranger (US$m)
1 Mitsubishi UFJ 6,886.7
2 SBI Capital 6,345.4
3 BNP Paribas 4,644.9
4 SMBC 4,236.0
5 Credit Agricole 4,025.1
6 Deutsche 3,550.0
7 ING 3,197.5
8 Mizuho 3,162.5
9 Societe Generale 2,761.6
10 Morgan Stanley 2,470.5

Digital Edition

Access a digital edition of the latest print magazine here. Access the digital edition of the PFI Yearbook 2013 here.

To read the PFI Magazine or Yearbook Digital Edition you will need to enter your details in the login section. If you have forgotten your password, or would like to find out more about PFI subscriptions, please email

PFI Yearbook 2015

PFI Yearbook 2015

PFI Yearbook 2015

Welcome to the 2015 Thomson Reuters Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2014, through case studies and the PFI Awards, and look forward into 2015 with articles in the Global section of the book. This year we have interviewed and profiled a host of leading sponsors from the Americas, Asia-Pacific and Europe Middle East & Africa (EMEA) to take the market temperature – to see how the clients are viewing market prospects.