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Thursday, 16 August 2018

Gas-fired power plant

Competition pushes pricing down

PFI Issue 630 - July 25, 2018

The wave of capital in the US power project finance space is pushing pricing down. Borrowers are extracting great terms for M&A and greenfield deals. By Nic Stone.

Navajo Nation finds mega coal buyer

PFI Issue 630 - July 25, 2018

Navajo Nation has entered negotiations with Avenue Capital for the sale of the 2.2GW Navajo coal-fired generating station in Arizona.

Plenary team wins Purdue University housing

PFI Issue 630 - July 25, 2018

Purdue University has selected Plenary Properties Purdue as the preferred proposer for the Third Street North and Meredith South housing facilities on the West Lafayette campus.

NY unveils offshore wind model

PFI Issue 630 - July 25, 2018

State governments hoping to attract offshore wind projects have been rushing to development procurement structures before tax credits run dry. New York’s 800MW wind procurement documents provided the first model with detail.

Duke cancels wind procurement

PFI Issue 630 - July 25, 2018

Duke Energy has cancelled selecting wind projects submitted in response a request for proposals (RFP) for 500MW.

Kerr Mines gets finance commitment

PFI Issue 630 - July 25, 2018

Kerr Mines has signed a letter of intent with Pandion Mine Finance for US$27.6m to fund the development and production of gold at the Copperstone Mine in Arizona by Q4 2019.

Buzz increases around LNG Canada FID

PFI Issue 630 - July 25, 2018

Canadian press reports are pointing to increasing activity in Kitimat as a sign that LNG Canada is close to announcing a positive final investment decision (FID) on its C$40bn (US$30.5bn) LNG export project in British Columbia.

FERC approves New England plant bailout

PFI Issue 630 - July 25, 2018

The Federal Energy Regulatory Commission (FERC) voted 3-2 to approve ISO New England’s proposal to pay US$406m to Exelon to continue to operate uneconomic gas-fired plants.

Quinbrook plans 690MW Nevada solar

PFI Issue 630 - July 25, 2018

Quinbrook Infrastructure Partners is planning the 690MW Gemini solar project in Nevada, to be located on US Bureau of Land Management property approximately 25 miles north-east of Las Vegas.

CrossLinx sues Metrolinx over Eglinton

PFI Issue 630 - July 25, 2018

CrossLinx Transit Solutions, the consortium building the Eglinton Crosstown light rail transit (LRT) project, has filed suit against regional transit agency Metrolinx, which procured the project.

Kami mine closes US$14m financing

PFI Issue 630 - July 25, 2018

Alderon Iron Ore has closed a US$14m financing with Sprott Resource Lending backing its Kami iron ore mine in Newfoundland and Labrador.

Consultant sought for Parliamentary Precinct

PFI Issue 630 - July 25, 2018

Public Works & Government Services Canada has issued a request for proposals (RFP) seeking a consultant to develop the Parliamentary Precinct campus project in Ottawa.

Three shortlisted on long-term care

PFI Issue 630 - July 25, 2018

The Newfoundland and Labrador government has shortlisted three teams to move to the request for proposals (RFP) stage on two 60-bed long-term care homes in Gander and Grand Falls-Windsor.

Two teams shortlisted on student housing

PFI Issue 630 - July 25, 2018

Puerto Rico’s Public-Private Partnerships Authority (P3A) and the University of Puerto Rico have shortlisted two teams on the student life project at the Mayagüez campus.

Ontario cancels renewables contracts, wind projects

PFI Issue 630 - July 25, 2018

The new Ontario government has started its work of attempting to make good on campaign promises to cancel renewable energy contracts in pre-construction phase.

La Caisse and AMP invest in cell infrastructure

PFI Issue 630 - July 25, 2018

La Caisse de dépôt et placement du Quebec and AMP Capital have agreed to provide US$500m of financing to Tillman Infrastructure, a developer and owner of telecoms tower infrastructure.

Nautilus Power closes add-on

PFI Issue 630 - July 25, 2018

Nautilus Power has closed a US$85m add-on to its Term Loan B closed last year. The deal maintained pricing at 425bp over Libor with a 1% Libor floor.

Hunt-led team wins Texas courthouse

PFI Issue 630 - July 25, 2018

Travis County, Texas commissioners have selected a consortium led by Hunt Companies to develop a 430,000ft2 civil and family courthouse facility.

FERC adds tax benefit to final MLP policy

PFI Issue 630 - July 25, 2018

The Federal Energy Regulatory Commission (FERC) has taken final action on its proposal for the treatment of income taxes for master limited partnerships (MLPs) but added a favourable provision that should positively impact the calculation of earnings.

North City renewable shortlist imminent

PFI Issue 630 - July 25, 2018

San Diego is close to finalising a shortlist of teams that responded to its request for statements of qualification on a landfill gas collection system and power generation projects.

Ygrene increases warehouse facility

PFI Issue 630 - July 25, 2018

Residential and commercial energy efficiency provider Ygrene has increased its warehouse credit facility to US$510m and added Natixis to its syndicate of lenders.

Gulftainer to take over Port of Wilmington

PFI Issue 630 - July 25, 2018

United Arab Emirates-based port operator Gulftainer has been cleared by the US government to take over the rights to operate and develop the Port of Wilmington in Delaware for 50 years.

BayWa signs California wind PPA

PFI Issue 630 - July 25, 2018

BayWa has signed a long-term power purchase agreement (PPA) with non-profit electricity provider MCE for its Strauss wind project near Lompoc, California.

Florida prep high-speed rail RFP

PFI Issue 630 - July 25, 2018

Florida’s Department of Transportation (FDOT) and the Central Florida Expressway Authority (CFX) are preparing to issue a request for proposals (RFP) on a privately funded high-speed rail connection from Orlando to Tampa.

San Diego pursues WIFIA loan

PFI Issue 630 - July 25, 2018

San Diego City Council’s environment committee has voted to advance an application for a loan from the Environmental Protection Agency’s (EPA) Water Infrastructure Finance & Innovation Act (WIFIA) programme.

Dulles Greenway traffic declines

PFI Issue 630 - July 25, 2018

Fitch has reported weakening traffic and revenues on the Atlas Alteria-owned, formerly Macquarie Atlas Roads, Dulles Greenway road asset in Virginia.

LNG projects facing long FERC delays

PFI Issue 630 - July 25, 2018

The Federal Energy Regulatory Commission (FERC) has notified some developers of LNG export projects that they may face 12 to 18-month delays for approvals, Bloomberg reported.

Galveston LNG wins DOE approval

PFI Issue 630 - July 25, 2018

The US Department of Energy (DOE) has authorised NextDecade’s Galveston Bay LNG project to export up to 2.15bn cubic feet of gas per day over 20 years from its liquefaction project in Texas City, Texas.

MMEX seeks refinery finance

PFI Issue 630 - July 25, 2018

MMEX Resources is pursuing financing on a planned 10,000 barrel-per-day crude distillation unit and full-scale crude oil refinery near Fort Stockton, Texas.

Reidsville eyes IPP equity sale

PFI Issue 630 - July 25, 2018

NTE Energy, through its local affiliate, is looking to sell a potentially 100% equity interest in the 500MW Reidsville natural gas-fired combined-cycle facility in Rockingham County, North Carolina.

Stonepeak closes acquisition financing

PFI Issue 630 - July 25, 2018

A subsidiary of Stonepeak Infrastructure Partners has closed a US$285m debt financing backing the purchase of the 1,112MW Canal petroleum and natural gas thermal power project Units 1 and 2.

Tariffs could impact transport sector, Fitch says

PFI Issue 630 - July 25, 2018

Potential tariffs on a range of goods, including automobiles, are a concern for the US transportation sector and may impair growth for airports, toll roads and ports over time, according to a report from Fitch Ratings.

Facebook signs solar deal for Oregon data centres

PFI Issue 630 - July 25, 2018

Facebook has entered a contract with PacifiCorp for 437MW of solar power to offset power use at its Prineville data centres in Oregon.

Chicago Parking Meters use swaption collar

PFI Issue 630 - July 25, 2018

North Haven Infrastructure Partners, Allianz Capital Partners and the Abu Dhabi Investment Authority have put a forward interest rate swaption collar in place on Chicago Parking Meters (CPM)’s US$600m bond debt to help mitigate refinancing risk on the 5.4% senior secured notes due December 2020.

Boralex finances Invenergy deal

PFI Issue 630 - July 25, 2018

Boralex has closed a public offering of subscription receipts to raise C$207m (US$157.5m) in proceeds for the acquisition of Invenergy assets.

RFQ out for Pattullo Bridge

PFI Issue 630 - July 25, 2018

British Columbia has issued a request for qualifications seeking a team to design, build and finance a new Pattullo Bridge over the Fraser River.

BBGI SICAV acquires Stanton P3 stake

PFI Issue 630 - July 25, 2018

BBGI SICAV, a closed-ended investment company incorporated in Luxembourg, has acquired a 25% stake in the Stanton Territorial Hospital from Carillion Canada. Stanton is a 27,000m2 hospital with 100 patient rooms in Yellowknife, Northwest Territories.

NJ hears views on offshore procurement

PFI Issue 630 - July 25, 2018

Offshore wind players including Orsted and Siemens urged New Jersey’s Board of Public Utilities to procure its expected 1.1GW of offshore wind all in one solicitation as it sought input in public hearings.

Maine town preps solar RFP

PFI Issue 630 - July 25, 2018

The town council in Cape Elizabeth, Maine has directed the town manager to prepare a request for proposals (RFP) to construct a large-scale solar array.

Woodside backs out of Port Arthur LNG

PFI Issue 630 - July 25, 2018

Woodside Petroleum has decided to walk away from Sempra Energy’s Port Arthur LNG export project in Jefferson County, Texas, Bloomberg reported.

Honolulu seeks rail adviser

PFI Issue 630 - July 25, 2018

The Honolulu Authority for Rapid Transportation (HART) has issued a request for proposals (RFP) seeking a financial adviser on Honolulu rail transit, a 20-mile elevated rail project.

DOE launches US$2bn tribal energy programme

PFI Issue 630 - July 25, 2018

The US Department of Energy (DOE) has launched its first loan guarantee solicitation for tribal energy projects.

Orion pursuing Carlsbad sale

PFI Issue 630 - July 25, 2018

Orion Water Partners has hired an adviser to explore a sale of the Carlsbad desalination plant, Bloomberg reported.

Site selected for Miami-Dade courthouse

PFI Issue 630 - July 25, 2018

Florida’s Miami-Dade county commissioners have recommended a 25,000ft2 park on Flagler Street in the downtown area as the site for a new Miami-Dade civic courthouse.

Gateway issues follow-up Hudson Tunnel RFI

PFI Issue 630 - July 25, 2018

Gateway Program Development Corporation (GDC) has issued a follow-up request for information (RFI) on the Hudson Tunnel project.

PA considers solar strategies

PFI Issue 630 - July 25, 2018

Pennsylvania’s Department of Environmental Protection (DEP) has released a report analysing potential strategies to increase in-state solar to supply 10% of electricity by 2030.

Elevation Midstream financed by GSO

PFI Issue 630 - July 25, 2018

Extraction Oil & Gas subsidiary Elevation Midstream has closed non-recourse financing with GSO Capital Partners.

LNG futures contract prepped

PFI Issue 630 - July 25, 2018

CME Group, the parent company of the Chicago Mercantile Exchange, has reached an agreement with Cheniere Energy to develop an LNG futures contract.