The A$11bn (US$7.5bn) Melbourne Metro and the A$6.7bn (US$4.5bn) West Gate Tunnel PPPs are facing delays and cost blowouts estimated to be around a combined A$2.5bn or more.
Renewable energy company Windlab and its partner Eurus Holdings are negotiating a bridge loan with the Clean Energy Finance Corp (CEFC) to allow their SPV, Kennedy Energy Park, to pay A$949,740 in milestone payments previously withheld, A$6,592,075 in variation claims and delay costs, plus tax.
Costs of the Harbour Tunnel project and the Beaches Link to Sydney’s northern suburbs have jumped to A$16.8bn (US$11.3bn), some A$4bn above the previous budget.
The Federal government is set invest about A$2bn (US$1.34bn) in grants and soft loans to boost New South Wales gas production. The NSW government will also provide A$1bn in direct funding.
French company Total has called on the PNG government and ExxonMobil to return to the negotiating table to resolve their differences on profit sharing of the planned US$13bn LNG expansion.
Neoen and John Laing have refinanced the project financings on the operational 309MW Hornsdale wind farm in South Australia with a A$650m (US$439m) loan.
New Zealand infrastructure investor Morrison & Co is reported to have upped its stake in the Sydney desalination plant by buying part of The Infrastructure Fund’s 15% ownership in the project.
The level of new investment commitments in large-scale renewable energy projects has collapsed by more than 50%, according to new analysis by the Clean Energy Council, which reveals a fall from 51 projects worth A$10.7bn (US$6.7bn) in 2018 to 28 projects worth A$4.5bn in 2019.
Engie Australia has launched the 50% to 80% equity sale in the Australian Renewables Energy Platform it owns alongside Mitsui (20%).
Transurban, which operates the Hills M2 motorway in Sydney, has hired MUFG and NAB to arrange a A$409m (US$275m) dual-tranche loan with 10 and 15-year tenors.
Property group Stockland has received a A$75m (US$50.3m) loan from the Clean Energy Finance Corp to build 11MW of solar rooftop capacity that will provide power to its commercial buildings.
The Australian government has offered a power panacea to its critics, who claim it lacks an energy policy, by announcing A$6m (US$4m) of funding for a pre-feasibility study on a 1.5GW hydro-electric plant and a feasibility study for 1GW coal plant.
Neoen Australia is expected to begin construction in the next few months on its 402MW Culcairn solar project with 100MW/200MWh of storage capacity.
Indonesia’s PT Adaro Energy Tbk and private equity firm EMR Capital Pty Ltd are reported by LPC to have asked lenders to provide proposals to refinance a US$1.69bn loan that was used to buy their 80% stake in the Kestrel coking coal mine in the Bowen Basin in Queensland in 2018.
Shell Australia, one of the country’s largest oil and gas producers, will build the 120MW Gangarri solar project in Queensland as part of the company’s plan to pursue new energies.
Adelaide City Council will power all of its operations and council-owned facilities with 100% renewable energy via a power purchase deal with Flow Power that will kick off in July.