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Monday, 29 May 2017

PFI EMEA Report 2016

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  • Beatrice marks new high offshore

    In May, the financing for the £2.6bn, 588MW Beatrice offshore wind farm, located off the east coast of Scotland, reached close. The scale of the deal was just one of several unique features associated with the project and in this article the financial adviser MUFG discusses the key challenges that had to be overcome in bringing the financing to close, as well as the landscape for offshore wind financings going forward. By Sam Franklin, director, power and renewables, MUFG

  • Renewable auctions in Sub-Saharan Africa

    The rising global trend in renewable energy investment is in large part driven by the rise of auctions, interchangeably referred to as competitive tenders or bids. By Wikus Kruger and Anton Eberhard, Graduate School of Business, University of Cape Town.

  • D4/R7 – A rebound for Slovak PPPs

    After a rocky start to PPPs in 2009/10, Slovakia has returned to the PPP market, achieves substantial savings and setting a template for Eastern European PPPs with the successful closing of the D4/R7 road PPP. By Alex Carver, partner, Ronen Lazarovitch, senior associate and James Chapman, associate, Freshfields Bruckhaus Deringer.

  • Adapting DBFMO contracts in court

    Amsterdam’s new District Courthouse PPP required careful tailoring of the Dutch standard DBFMO contracts to adapt it to a demolition and reconstruction project and tackle unforeseen risks. By Daphne Broerse and Annemarie Creutzberg at Norton Rose Fulbright in Amsterdam.

  • Investors embrace traffic in long-dated bonds

    Cintra has refinanced two Spanish toll roads through a package of long-dated project bonds and a subordinated junior facility. By Robert Flanigan, partner, Mayer Brown International LLP.

  • CSP goes big in Africa

    Engie’s first CSP, Kathu, was financed in May with a club of South African banks. The 100MW project could be the first of many more large CSPs in the market once the current Eskom row is resolved. By Colin Leopold.

  • Past, present and future of the PBCE

    The EIB’s project bond credit enhancement has successfully concluded its pilot phase. In the future, this instrument could be used on more challenging projects and jurisdictions. By Tim Conduit, partner at Allen & Overy.

  • Developments in UK PPAs for renewables

    This article surveys recent developments in PPA structures used in relation to financing of UK renewable electricity projects. By Ali Lloyd, a senior principle consultant at Pöyry Management Consulting.

  • Power to the people – Ibri and Sohar 3

    In June 2016, the ACWA Power consortium achieved financial close of a transaction that involved the greenfield development and financing of two combined-cycle gas turbine projects, Ibri and Sohar 3, with capacities of 1,509MW and 1,710MW respectively, in Oman. Pascal Martese, executive director, Acquisitions & Project Finance and Leslie Abraham, senior manager, Acquisitions & Project Finance at ACWA Power, provide a bird’s eye view of the trans

  • Luchterduinen – A Dutch/Japan JV

    The Luchterduinen offshore wind farm was built and financed through in-depth cooperation between Dutch and Japanese sponsors and lenders. It provided a template for raising debt funding for an offshore wind project after construction. By Hein Tonnaer, partner, and Jasper Dijkshoorn, senior associate, of Clifford Chance LLP, Amsterdam andDirk Baai-Muijsson of Eneco.

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