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Monday, 27 March 2017

Michelle Bachelet

CSP challenges in Chile

PFI Issue 597 - March 22, 2017

High prices and huge demand meant companies came to Chile. Now they are looking to get their financing for concentrated solar power projects to the finish line. By Nic Stone.

Power projects seek international bank PF

PFI Issue 597 - March 22, 2017

US-based conglomerate General Electric and Argentine state-run energy group YPF are looking to finance a pair of gas-fired power projects via a syndicate of international lenders. The duo are developing a 260MW project in Tocumen and a 110MW project in Loma Campana. The projects have a combined development price tag of roughly US$280m.

Celse LNG into structuring

PFI Issue 597 - March 22, 2017

The debt package backing Centrais Electricas de Sergipe’s (Celse’s) Porto de Sergipe LNG-to-power project near Aracaju is progressing, with multilateral lenders taking part in the financing.

Chesf to take up financial slack

PFI Issue 597 - March 22, 2017

Companhia Hidro Elétrica do São Francisco (Chesf) will invest R$3.3bn (US$1.06bn) in projects and partnerships before 2018. The company has already released R$2bn to help push 49 renewable and transmission projects across the finish line.

Financing in place for Amazon renewables

PFI Issue 597 - March 22, 2017

Development bank BNDES has stepped in to help finance renewable energy projects in the Amazonas region of Brazil that had stalled due to a lack of funds. BNDES will offer special financing conditions to projects selected via an auction that will take place on May 11.

Consultations continue for Octopus LNG

PFI Issue 597 - March 22, 2017

Chile’s environmental assessment service SEA has begun the process of interaction with indigenous communities regarding the stalled Octopus LNG-to-power project in Chile.

Airport auction raises US$1.2bn

PFI Issue 597 - March 22, 2017

Brazil has auctioned off control of four airports in the country, raising US$1.2bn. The auction was the first of its kind since 2013 and is part of President Michel Temer’s strategy of fostering growth through increased private sector involvement.

Government to liquidate Electricaribe

PFI Issue 597 - March 22, 2017

Colombia’s government regulator said that it had ordered the liquidation of Electricaribe, an affiliate of Spain’s Gas Natural, but the company had asked Colombia to find a way to allow it to keep trading there.

Ende Andina eyes bond deal

PFI Issue 597 - March 22, 2017

Ende Andina is looking to land a roughly US$1bn debt package backing the expansion of three existing thermal power plants across Bolivia. Depending on the final structuring, the deal could be for as much as US$1.2bn.

Next auction planned for summer

PFI Issue 597 - March 22, 2017

The Argentine government is looking to launch another renewable energy auction in either July or August this year, according to media reports. Lawmakers launched the largely successful RenovAr programme last year, with international and local companies securing contracts for roughly 2.4GW of generation across the RenovAr 1 and RenovAr 1.5 auction processes.

Temer launches concession plan

PFI Issue 597 - March 22, 2017

Brazil’s President Michel Temer had launched another infrastructure concession programme that he says should raise R$45bn (US$14.43bn) in investment. The programme relates to roads, ports, railways and transmission lines.

Moody’s upgrades infra outlook

PFI Issue 597 - March 22, 2017

Moody’s Latin America has changed the rating outlook on various infrastructure companies operating in Argentina to positive from stable.

Invenergy closes solar purchase

PFI Issue 597 - March 22, 2017

Chicago-based Invenergy has closed the purchase of the 64MW La Jacinta solar farm in Uruguay from Fotowatio Renewable Ventures (FRV). The project has been operating since October 2015.

Dietrich announces highway build-out

PFI Issue 597 - March 22, 2017

Argentina’s transport minister Guillermo Dietrich has committed to doubling the country’s highway network. The minister said the government would spearhead a potential US$33bn investment programme through to 2019, which would look to rectify the “catastrophic” state of the nation’s highways.

Acciona plans highway sector exit

PFI Issue 597 - March 22, 2017

Spanish company Acciona will put on the block this year its last highway asset in Chile. The company will look to sell its stake in the Ruta 160 highway project, which began operating fully last year after Acciona won the mandate to develop and operate the project over a period of 38 years.

CCR takes Odebrecht stakes

PFI Issue 597 - March 22, 2017

Private infrastructure conglomerate CCR has finalised the purchase of a pair of stakes from embattled construction group Odebrecht. CCR took a further 15% stake in the ViaQuatro concession from Odebrecht Transport Participações (OTP) and a 33.33% stake in the ViaRio concession from Odebrecht Rodovias.

Minera IRL seeks alternative funding

PFI Issue 597 - March 22, 2017

Minera IRL has announced that Peruvian state-owned development and promotion bank Corporacion Financiera de Desarrollo of Peru (COFIDE) has revoked its mandate to exclusively structure the senior debt to a maximum of US$240m for the development of the Ollachea gold project in Puno. COFIDE has changed its strategy to focus on financing small and medium-sized enterprises, known locally as Mypes.

OHL approaches IIC for toll road

PFI Issue 597 - March 22, 2017

Spanish company OHL via project company Autopista Rio Magdalena 2 has approached the Inter-American Investment Corporation (IIC) about providing a US$100m dollar tranche for the financing backing the Rio Magdalena 2 toll road concession.

Patria wins highway mandates

PFI Issue 597 - March 22, 2017

Brazilian investment fund Patria Infraestrutura III has won the rights to operate several highways in western Sao Paulo state, beating toll road operator EcoRodovias Infraestrutura e Logisitica.

SunPower preps asset sale

PFI Issue 597 - March 22, 2017

SunPower Corp has put its stake in the 100MW El Pelicano solar project in La Serena up for sale. The project is under construction and the sale is expected to go through this year.

ANI approves Vinus financing

PFI Issue 597 - March 22, 2017

The Agencia Nacional de Infraestructura (ANI) has approved the financial structure of Via del Nus’ (Vinus’) debt package backing its highway public-private partnership. The private initiative works have an overall price tag of Ps1.1trn (US$366m). ANI approved a credit line of up to Ps680bn to be provided by Bancolombia and Financiera de Desarrollo Nacional (FDN).

Eight compete for tunnel

PFI Issue 597 - March 22, 2017

A group of eight companies are pitching to win the contract to complete works on the Tunel de la Linea. The National Roads Institute (Invías) cancelled the original contract with Union Temporal Segundo Centenario (UTSC) on the back of delays.

Astaldi agrees hydro sale

PFI Issue 597 - March 22, 2017

Astaldi has signed an agreement to sell its interest in the concession company behind the 110MW Chacayes hydro project to Pacific Hydro Chile. PHC is already the owner of the remaining majority 72.7% and is the Chilean subsidiary of Chinese group SPIC Overseas.

Canadian Solar lands credit line

PFI Issue 597 - March 22, 2017

Canadian Solar announced that it has received US$20m in unsecured funding from the China and Portuguese-speaking Countries Cooperation & Development Fund (CPDFund) to support the development of eligible projects in Brazil, including the 191MWp Pirapora I project in the state of Minas Gerais.

All South America