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Thursday, 20 February 2020

Issue : PFI Issue 536 - September 10, 2014

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  • Ganguly to Evercore

    People & Markets | 10 September 2014

    Swagata Ganguly is to join advisory house Evercore in London on October 11 to set up a new debt advisory team. He has been with Rothschild for 14 years, where he is a managing director in the global advisory team. At Rothschild he has focused on infrastructure but at Evercore the remit will be wider. He will be looking to build up a team of around six. Mark Craig from the private equity side of Lloyds is already on board.

  • Quintero to NY Natixis

    People & Markets | 10 September 2014

    Laura Quintero has joined Natixis as a vice-president in the loan syndication department in New York. She will report to managing director, loan syndications, Helena Radzyminski. Quintero has joined from the IFC, where she was an analyst. At Natixis, she will focus on Latin America.

  • Blackstone into the North Sea

    People & Markets | 10 September 2014

    Blackstone and fellow private equity group Blue Water Energy are to invest US$500m in Siccar Point Energy, a new North Sea oil company to be headed by Jonathan Roger, formerly of Venture Production and then head of Centrica Energy Upstream. Singapore’s GIC is to invest in the new company as well.

  • Afren hit

    People & Markets | 10 September 2014

    African oil independent Afren, having suspended CEO Osman Shahenshah and COO Shahid Ullah plus two associate directors Iain Wright and Galib Virani over unauthorised payments from a third party, has released its half-year results showing revenues fell by 29% to US$565m and gross profit by 49% to US$194m.

  • Taqa appoints on sales

    People & Markets | 10 September 2014

    Abu Dhabi state energy investor Taqa has appointed Macquarie and McKinsey & Co to look at possible asset sales. Taqa has been cutting back its investment ambitions and is now part of plans for a new Energy Authority covering all aspects of energy policy, including ADWEA, ADNOC, Mubadala and Taqa.

  • OOC signs

    People & Markets | 10 September 2014

    Oman Oil Company (OOC) has completed a US$1.85bn two-part loan deal with a group of mainly international lenders, two sources familiar with the matter told Reuters last week, with the cash to be used for general business purposes.

  • New Scottish infra fund

    People & Markets | 10 September 2014

    Scottish Equity Partners (SEP) has launched a £135m Environmental Capital Fund (ECF) backed by utility SSE. The first investment in the fund is SSE Pipelines, which has been sold to ECF for £52.7m. SSE Pipelines has 130,000 gas customers in the UK but no SSE employees will transfer to the fund in the deal.

  • Kim rejoins A&O

    People & Markets | 10 September 2014

    Allen & Overy has hired oil and gas lawyer Judith Kim as a partner in its Dubai office. She has joined from Ashurst LLP, where she was a partner in the energy, resources and infrastructure department in the Middle East, specialising in energy and petrochemical project development and mergers and acquisitions.

  • Matthew joins Browne Jackson

    People & Markets | 10 September 2014

    Browne Jacobson has hired senior projects partner Stephen Matthew from Nabarro LLP. Matthew will work alongside Peter Ware, head of the government and infrastructure team, and lead projects partner Craig Elder. He will be based in the firm’s London office. He is the second major projects partner to join the firm this year and follows the arrival of technology projects expert Anthony Nagle from Morrison & Foerster in February.

  • Brookfield gets wind PF

    EMEA News | 10 September 2014

    A €180m project financing backing Brookfield Renewable Energy Partners’ acquisition of wind farms from Bord Gais has been signed. The 13.5-year deal was led by Credit Agricole with BBVA, DNB and EDC. Pricing starts at 215bp and then drops. The financing funds nine Irish schemes in the portfolio and has an amount of merchant exposure. Equity in the deal is around 30%. The deal is the first of two on the por

  • Marubeni wins Plomin C IPP

    EMEA News | 10 September 2014

    Marubeni has won the €800m-plus 500MW Plomin C coal-fired IPP, beating Abeins/Daewoo into second place and Samsung/Edison into third. Marubeni has Alstom as its equipment supplier and Credit Agricole as its financial adviser. Project finance could therefore come from commercial banks backed by Coface and JBIC. State utility HEP is providing the power purchase agreement (PPA), with no state guarantees. It is rated Ba2.

  • RFP send out for Morupule C IPP

    EMEA News | 10 September 2014

    The request for proposals (RFP) for the 300MW Morupule C coal-fired brownfield scheme has been released, with bids due back by next March. The deal will be backed by a 30-year power purchase agreement (PPA) with the state utility and a separate coal supply agreement, which will be issued to bidders next month. The deal is therefore not a traditional independent power project (IPP) where the PPA and the fuel supply are under one package. However, the project is next to a coal mine.

  • Tech wind bids in

    EMEA News | 10 September 2014

    Technical bids for the 850MW wind farm project being offered by ONE were submitted last Friday. No date has yet been set for the commercial bids. The scheme is split over five sites and each bidder will bid separate tariffs for each site.

  • Safi IPP set for FC

    EMEA News | 10 September 2014

    The US$2.1bn project financing backing the 1,320MW Safi coal-fired power project is due to be signed shortly and then fund by the end of the month, pending final site approvals. The financing plan and bank group on the deal were in place in spring 2013 but the GDF Suez/Mitsui/Navera-led team has since been waiting for various site approvals and land purchases. Work on the coal import terminal has s

  • Pico due

    EMEA News | 10 September 2014

    Pico International Petroleum is to launch the refinancing of its seven-year US$265m reserve-based lending (RBL) deal from 2010 (PFI issue 435) shortly. The deal is being structured by HSBC. The EBRD and the IFC are said to be looking at the financing, which would help in the current local environment.

  • Final solar list out

    EMEA News | 10 September 2014

    DEWA has issued the final list of 24 bidders for its 100MW solar project on its website. PFI published many of the names in the last issue (PFI issue 535) but additional names include CGN Solar Energy/Dubal/Meiya Power, Akuo Energy/Enerparc, LG, Dallah/Enerpac, Fotowatio/Abdul Latif Jameel, NRG/Saudi Oger, Sunedision, First Solar/Corys Environment and Total/Sunpower.

  • Final coal bidders emerge

    EMEA News | 10 September 2014

    The final list of potential bidders for DEWA’s 1,200MW Hassyan coal-fired independent power project (IPP) is emerging. Acwapower is with Kepco, EDF with Chinese contractors, TNB from Malaysia with China Machinery Engineering Contractors, and Ma

  • Natixis wins refi FA

    EMEA News | 10 September 2014

    Natixis has won the financial advisory tender on the refinancing of the Fujairah Oil Terminal (FOT) scheme, being developed by Sinopec and Concord Energy.

  • Mubadala to buy more Dolphin

    EMEA News | 10 September 2014

    Mubadala is set to buy at least part of Occidental’s 24.5% stake in the Dolphin gas pipeline. Mubadala already has 51% and Total has the other 24.5%.

  • Barzan late

    EMEA News | 10 September 2014

    The US$10bn Qatar Petroleum/Exxon Barzan gas field project is late in construction, with the first train now due on line in spring 2015 and the second train in the summer, with full output due in late 2015. The project was originally due for completion in early 2015.

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