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Thursday, 17 August 2017

Melbourne gets its mega metro finance

PFI Issue 606 - July 26, 2017

Victoria is becoming the project finance place to be when it comes to rail projects, with the awarding of the PPP contract for the A$11bn (US8.7bn) Melbourne Metro Tunnel last week only the latest in the state’s metro rail projects.

Northern beaches toll planning under way

PFI Issue 606 - July 26, 2017

Planning for a A$14bn (US$11.5bn) Western Harbour Tunnel and Northern Beaches toll road in Sydney is under way, according to leaked New South Wales government documents.

Newcastle coal loader refinanced

PFI Issue 606 - July 26, 2017

The Newcastle Coal Infrastructure Group (NCIG), which is owned by six coal companies in the Hunter Valley in New South Wales, has refinanced the three-year A$633m (US$484m) tranche of its A$1.6bn debt that was due next year.

Vic govt to decide on titles mandate

PFI Issue 606 - July 26, 2017

The Victorian government is expected to make a decision this week on which investment bank has won the mandate to conduct a scoping study for the sale of its Land Titles office PPP.

Bidders line up for Trility

PFI Issue 606 - July 26, 2017

Two Australian bidders are believed to be lining up against Chinese buyers for local water infrastructure owner and operator Trility Group.

Cooper seeks Sole finance

PFI Issue 606 - July 26, 2017

Oil and gas company Cooper Energy is weighing up its options on securing A$200m (US$150m) to develop its Sole gas field in the Gippsland Basin off the coast of Victoria. The company is pursuing a dual-stream process to identify and secure the optimal financing for the Sole gas project and the options under consideration include senior bank project finance and senior secured bonds.

Neoen secures solar PPA

PFI Issue 606 - July 26, 2017

Neoen Australia has secured a 10-year plus power purchase agreement (PPA) from EnergyAustralia for the yet to be built 150MW Coleambally solar farm in the Riverina district of New South Wales.

Genex in line for NAIF loan

PFI Issue 606 - July 26, 2017

Genex Power, which is looking for finance for Stage 2 of its hydro pumped storage and solar projects at the Kidston mine in Queensland, has received approval from the Northern Australia Infrastructure Facility (NAIF) to proceed to the full due diligence phase.

Wirsol plans new solar farms

PFI Issue 606 - July 26, 2017

German renewable power developer Wirsol Energy and local company Renew Estate plan to develop a 1GW pipeline of new solar projects.

Apollo Global joins Loy Yang B auction

PFI Issue 606 - July 26, 2017

Apollo Global Management is the latest entrant in the bidding for Engie and Mitsui’s Loy Yang B coal-fired power station in Victoria.

New rules for PPP accounting

PFI Issue 606 - July 26, 2017

State governments will have to recognise PPP projects on their balance sheet from January 2019 as a result of new accounting rules that will apply to assets built and controlled by governments, such as toll roads, tunnels, prisons, schools and hospitals.

Lighthouse buys second solar farm

PFI Issue 606 - July 26, 2017

Australian infrastructure fund Lighthouse Solar has bought its second solar farm in Queensland, a 22.5MW project currently under construction in Hughenden in the state’s north.

NAIF considers lending to toll road

PFI Issue 606 - July 26, 2017

The Australian government’s US$3.4bn Northern Australia Infrastructure Fund (NAIF) is considering providing project finance debt for a possible toll road in the country’s Far North.

SA Hospital to open in September

PFI Issue 606 - July 26, 2017

The new Royal Adelaide Hospital is due to open in September now that all the technical difficulties have been resolved and the hospital has been handed over to the government.

Globalvia considers WestConnex bid

25 July 2017

Spanish toll road company Globalvia is considering submitting a bid for the New South Wales government’s 51% share of the WestConnex toll road in Sydney. Executives from the company are reported to have held meetings with the government and local lenders in Sydney over the past month.