Another settlement between the public and private sector highlights construction issues on North American P3s. Projects have struggled with complex change orders, extensive delays, and financial losses. By Alison Healey
Frontera Generation Holdings has launched its US$710m Term Loan B refinancing of Lonestar Generation debt. Price talk is at 450bp over Libor with a 1% floor and a discount of 99.
Tax reform and trade wars are impacting renewable energy project finance. But the market remains flush with cash.
Blackstone-backed BCP Renaissance Parent has set a lender call for April 17 for a repricing of its US$1.25bn term loan financing the Rover Pipeline.
Cheniere Energy is to refinance the remaining bank debt on its Corpus Christi Trains 1 and 2 project and add in new debt on its Train 3 scheme in a new US$6bn deal.
Infrastructure Ontario (IO) and Metrolinx have selected Mosaic Transit Group as the preferred proponent to design, build, finance and maintain the Finch West Light Rail Transit (FWLRT) project.
The provinces of Quebec and Newfoundland and Labrador will collaborate to do preliminary planning for a transportation corridor to facilitate mining in the region known as Labrador Trough, 1,200km geological belt that holds major deposits of iron and other minerals.
Puerto Rico Aqueduct & Sewer Authority (PRASA) has launched procurement on a public-private partnership (P3) to optimise its metering service.
Turkish ports operator Yilport Holding has signed a letter of intent (LoI) with the Mississippi State Port Authority to allow due diligence and negotiations on a potential public-private partnership for the Port of Gulfport expansion.
Acciona Energia is planning a second wind farm in Texas that will represent its ninth in the US, bringing its US wind power capacity to 866MW.
Osaka Gas has agreed to acquire Michigan Power from Rockland Capital’s Wolverine Power Holdings unit for US$93m.
Georgia Power is planning to add more than 177MW of solar resources to supply its commercial and industrial (C&I) renewable energy development initiative after four corporate offtakers subscribed to the programme.
A total of 14 federal agencies have agreed to work together to reduce the time needed for environmental reviews and permitting on major infrastructure projects, a key component of President Donald Trump’s infrastructure plan.
Fifth Third Bancorp’s agreement to achieve 100% renewable power through a single project delivered by SunEnergy was structured as a virtual power purchase agreement (VPPA).
Pricing on the EIF Channelview Cogeneration Term Loan B was reduced ahead of close, to 425bp over Libor with a 1% Libor floor from initial price talk in the 450bp to 475bp range.
The US Bureau of Ocean Energy Management (BOEM) has proposed the sale of wind leases on two additional areas offshore Massachusetts representing 390,000 acres and has published a call for information and nominations in New York.
The Glendale Water & Power Commission in California has voted to go out to market with a request for information (RFI) on renewable alternatives to a refurbishment of its 242MW Grayson power plant.
Infrastructure Ontario (IO) and Metrolinx have invited three teams to submit proposals for two stations and an operations facility along the Milton GO Corridor.
Infrastructure Ontario and Hopital Montfort have shortlisted five companies to build and finance the Orleans Health Hub in Ottawa.
A desirability and convenience study prepared for the Puerto Rico Public-Private Partnerships Authority has recommended a demand-risk P3 structure for a project to improve its ferry service.
BP has partnered with Tesla to build its first battery storage project at the Titan 1 wind farm in South Dakota. The project will be BP’s first battery project at a US wind farm.
Texas LNG is talking to prospective financial advisers to take the place of BNP Paribas, who dropped oil and gas shale financing in October based on environmental principles.
Industrial manufacturing company Ingersoll Rand has signed a power purchase agreement (PPA) for approximately 100,000 MWh of wind power annually from Engie North America’s Seymour Hills wind project in Baylor County, Texas.
Ares EIF and Toyota Tsusho have reached financial close on a US$447m Term Loan B refinancing on the 675MW St Joseph’s Energy Center (SJEC) project in Indiana.
Miami-Dade, Florida commissioners have delayed a decision on whether to issue a request for qualifications (RFQ) on the civil courthouse public-private partnership, pushing the vote back to May.
The Platte River Power Authority in Fort Collins, Colorado has received roughly 30 responses to a request for proposals (RFP) seeking a private partner to build a 20MW solar project with 1MW to 5MW of battery power.
The Environmental Protection Agency (EPA) is accepting letters of interest (LOIs) for as much as US$5.5bn in loans through the Water Infrastructure Finance & Innovation Act (WIFIA) programme.
Lenders were preparing an April 17 bank meeting to launch a US$415m Term Loan B financing as PFI went to press.
A bill to restart the Fishermen’s Energy offshore wind farm project near Atlantic City passed both houses of the state legislature on Thursday and has been sent to governor Phil Murphy, who is expected to sign it into law.
Redwood Coast Energy Authority (RCEA) has selected a consortium of companies to enter into a public-private partnership to develop a floating offshore wind project off the northern California coast.