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Saturday, 25 February 2017

Energy crisis provides opportunity

PFI Issue 595 - February 22, 2017

The Australian government is considering changing the investment rules of the Clean Energy Finance Corp (CEFC), the agency charged with investing in alternative energy, to allow it to invest billions of dollars in building clean coal-fired power stations.

Palisade wins Sunshine Coast Airport

PFI Issue 595 - February 22, 2017

Palisade Diversified Infrastructure Fund and two industry superannuation funds, VicSuper and LGIAsuper, will pay A$372m (US$284m) for a 99-year lease to run the Sunshine Coast Airport in Queensland.

Proposed Sydney airport 'deeply uneconomic'

PFI Issue 595 - February 22, 2017

The Sydney Airport Company believes the proposed new A$5bn (US$3.86bn) airport at Badgerys Creek in Sydney’s western suburbs is “deeply uneconomic” from a private sector investment point of view. The Federal government has given Sydney Airport until May to make a decision on whether it will exercise its first rights option to fund and build the new airport. Macquarie, which is the major shareholder of the airport, is asking the government for a A$1bn grant to build the airport but the government has said no.

AMP Capital to bid for CLV students

PFI Issue 595 - February 22, 2017

AMP Capital, which is being advised by Rothschild, has teamed up with major UK investor Arlington to make a bid for the A$2bn (US$1.53bn) student accommodation portfolio of Campus Living Villages.

Reliance Rail looks to refinance

PFI Issue 595 - February 22, 2017

Reliance Rail, the SPV of the rail carriage project PPP in Sydney, is looking to refinance about A$1.5bn (US$1.1bn) of senior bank and bond debt that is due in 2018 and 2019. Westpac, Mizuho, Sumitomo, Citigroup, and National Australia Bank are among the banks that will be involved. The credit wrapper of the debt is Syncora.

SA hospital PPP under a cloud

PFI Issue 595 - February 22, 2017

SA Partnerships, the special purpose vehicle (SPV) for the A$2.23bn (US$1.71bn) Royal Adelaide Hospital in South Australia, is reported to have called in insolvency firm McGrath Partners as a protective measure following costly delays to the project estimated to be around A$600m.

WestConnex bidders firm up

PFI Issue 595 - February 22, 2017

Spain’s Cintra and Australian company Plenary are forming a consortium to bid for the New South Wales government’s stake in the WestConnex toll road project in Sydney. The two partners have formed an SPV called Netflow that will be the bidding vehicle.

APA to build new wind farm

PFI Issue 595 - February 22, 2017

APA Group has entered into a 12-year offtake agreement with Western Australian power company Alinta that will underpin the construction of the 130MW Badgingarra Wind Farm in WA. The agreement is for Alinta to purchase all of the energy and the Large-scale Renewable Generation Certificates (LGCs) generated by the wind farm.

Bidders line up for Rio's coal mines

PFI Issue 595 - February 22, 2017

Bidders are lining up for the sale of Rio Tinto’s two coking coal mines in the Bowen Basin in Queensland. Rio recently sold its Hunter Valley mines in New South Wales to Yancoal.

ATCO to bid for Origin's pipelines

PFI Issue 595 - February 22, 2017

The Australian subsidiary of Canadian energy infrastructure company ATCO is reported to have hired JP Morgan to make a second-round bid for Origin Energy’s gas pipelines in Queensland.

Kiata wind funded

PFI Issue 595 - February 22, 2017

The A$84.5m (US$64.7m) Kiata wind farm project located 50km north-west of Horsham, Victoria is expected to begin construction this month. The project is being developed by John Laing and WindLab.

Leigh Creek Energy progresses SA IPP

PFI Issue 595 - February 22, 2017

South Australian energy company Leigh Creek Energy has extended the heads of agreement with Shanghai Electric Power Generation Group relating to the joint development of a gas-fired power station in South Australia.

Darling Downs Solar sale starts

PFI Issue 595 - February 22, 2017

 

Genex reaches FC on solar project

PFI Issue 595 - February 22, 2017

Genex Power has achieved financial close for its 50MW Kidston Solar Project phase one project in Queensland. Societe Generale and the Clean Energy Finance Corp provided the A$100m (US$76m) of debt for the project. The debt was split into two tranches, with Societe Generale providing A$46m of five-year debt and CEFC providing A$54m with a tenor of at least 10 years.

Tilt Renewables ready to fund

PFI Issue 595 - February 22, 2017

Australian and New Zealand listed company Tilt Renewables is looking to fund a number of its development projects following its demerger from NZ Trust Power and it has signed a A$715m (US$585) loan from five banks and Danish export credit agency (ECA) EKF.

Vic govt calls for battery storage EoIs

PFI Issue 595 - February 22, 2017

The Victorian government is calling for expressions of interest to build a 20MW battery storage array, in what would likely be Australia’s first grid scale battery storage facility.

Origin signs Bungala solar PPA

PFI Issue 595 - February 22, 2017

Origin Energy announced at its half-yearly results briefing last week that it had signed a power purchase agreement (PPA) with Reach Solar, the developer of the A$600m Bungala Solar project at Port Augusta in South Australia. Reach Solar will now seek funding for the A$220m, 100MW first stage that will deliver power directly into the grid. Once operational, Reach Solar, will look to upscale to the A$600m, 300MW final stage.

Gannawarra Solar secures PPA

PFI Issue 595 - February 22, 2017

The owners of the Gannawarra Solar project at Kerang in Victoria have signed a 13-year power purchase agreement (PPA) agreement with EnergyAustralia. The first phase of the project will be 58MW, with plans to upscale to 300MW.

Endeavour Energy sale heats up

PFI Issue 595 - February 22, 2017

 

All Australia, NZ and PNG