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Monday, 18 June 2018

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ING appoints EMEA energy head

PFI Issue 627 - June 13, 2018

ING has appointed Valerio Capizzi as its new head of energy for EMEA, based in Milan.

Marubeni is Java 3 frontrunner

PFI Issue 627 - June 13, 2018

Marubeni Corp is understood to be the preferred bidder for the 49% stake in the 800MW Java 3 gas-fired power plant, outbidding Korea Electric Power (Kepco).

Lakdanavi to approach banks on IPP

PFI Issue 627 - June 13, 2018

Lakdanavi, the winning bidder for the development of the Kerawalapitiya gas-fired power plant, is expected to approach international banks soon to raise financing.

Aquind seeks regulatory approval

PFI Issue 627 - June 13, 2018

Aquind is seeking regulatory approval from the Agency for the Cooperation of Energy Regulators (ACER) by way of an exemption for its €1.43bn-plus, 2,000MW power interconnector project between northern France’s nuclear-powered electricity grid and southern England.

REUTERS/Issei Kato/File - A liquefied natural gas (LNG) carrying vessel sails at Tokyo Bay, offshore of Yokosuka, south of Tokyo, Japan

The incremental LNG project boom

PFI Issue 627 - June 13, 2018

The second wave of LNG project construction is getting under way in Australia and PNG with an estimated capital cost of more than US$10bn. This time around it isn’t massive new projects and financing that are at stake but rather the ability to fund and build incremental expansion at existing projects and provide the flexibility of supply and price demanded by new buyers. By John Arbouw

BNP Paribas loses power head

PFI Issue 627 - June 13, 2018

Laurent Margoloff, director and head of power at BNP Paribas, is understood to be leaving the bank soon.

Lundin makes the first cut

PFI Issue 627 - June 13, 2018

Norwegian oil independent Lundin Petroleum has cut the margin on its US$5bn jumbo reserve-based lending (RBL) facility from 315bp to 225bp. Only one bank out of the 28 in the syndicate has withdrawn as a result.

Perkins Coie bolsters energy practice

PFI Issue 627 - June 13, 2018

Perkins Coie has hired Andrew Hanson and Bradley Oliphant as partners in the firm’s environment, energy and resources practice in the Madison, Wisconsin, and Denver, Colorado offices, respectively.

Steelhead LNG names pipeline VP

PFI Issue 627 - June 13, 2018

Steelhead LNG has appointed Corey Goulet as vice president of its pipeline unit, effective July 3.

Schlumberger exits Fortuna LNG

PFI Issue 627 - June 13, 2018

Schlumberger has pulled out of the delayed US$2bn Fortuna floating LNG project and will dissolve its OneLNG partnership with Golar LNG, Golar said.

Lira debt raised for grid upgrade

PFI Issue 627 - June 13, 2018

A subsidiary of Turkey’s Zorlu Enerji has raised the Turkish lira equivalent of US$330m to upgrade the electricity distribution network in Turkey’s Osmangazi region in western Anatolia.

Kibo plans another coal IPP

PFI Issue 627 - June 13, 2018

Kibo Mining has signed a joint venture agreement with Mozambique energy company Termoelectrica de Benga to develop the 150MW–300MW Benga coal-fired independent power project (IPP).

B Grimm issues IPP bonds

PFI Issue 627 - June 13, 2018

B Grimm Power has privately placed Bt6.7bn (US$210.4m) of 15-year bonds through two power units, IFR reported.

BNP in the wings on Riverside

PFI Issue 627 - June 13, 2018

BNP Paribas is believed to be involved in any potential refinancing of debt on the Cory Riverside waste to energy plant being bought by the Dalmore led team in a £1.5bn deal.

New options for nuke financings

PFI Issue 627 - June 13, 2018

The UK government is looking at funding new nuclear power stations in the UK via a regulated asset base (RAB) model.

Sembcorp plans UKPR spring board

PFI Issue 627 - June 13, 2018

The £216m acquisition of fast response distributed generator UK Power Reserve (UKPR) last week is part of Sembcorp’s plan to build a sizeable portfolio of gas-fired power assets in the UK. It wants to build what it calls an integrated merchant energy business in the UK from its Wilton Teesside industrial estate hub.

New investor into Dubai WtE

PFI Issue 627 - June 13, 2018

Japanese trader Itochu is joining the developer group on the US$900m Dubai waste-to-energy (WtE) scheme. The company is expected to bring JBIC into the project financing on the scheme.

Bids in for coal advisory

PFI Issue 627 - June 13, 2018

Financial advisory bids have been submitted for Oman Power & Water Procurement Company’s 1.2GW project by Deloitte, KPMG, PwC and Synergy Consulting.

Five bids for Hellenic Petroleum

PFI Issue 627 - June 13, 2018

Five groups have submitted expressions of interest to buy a majority stake in Greek oil company Hellenic Petroleum.

iCON buys waste group Eco Eridania

PFI Issue 627 - June 13, 2018

Investor iCON Infrastructure Partners has bought a majority stake in Italian waste management group Eco Eridania.

Mitsui to develop gas-fired IPP

PFI Issue 627 - June 13, 2018

Mitsui & Co is partnering with Coal Power Generation Co Bangladesh (CPGCBL) on a 50:50 basis to develop an imported LNG-based power plant at Moheshkhali Upazila, the same place where Sumitomo Corp is planning to develop a coal-fired power plant.

Sumitomo to develop coal-fired IPP

PFI Issue 627 - June 13, 2018

Sumitomo Corp has formed a joint venture with Coal Power Generation Co Bangladesh (CPGCBL) to develop an imported coal-based ultra supercritical coal-fired power plant with a capacity of between 1,200MW and 1,320MW.

PowerChina to develop Barisal IPP

PFI Issue 627 - June 13, 2018

PowerChina is understood to be partnering with a local company to develop a 30MW coal-fired power plant in Barisal, Bangladesh.

Four bidders in race for Essel transmission

PFI Issue 627 - June 13, 2018

Tata Power, Sterlite Power, CLP India and Edelweiss Financial Services are reported to be the final bidders to buy the US$1bn value power transmission projects of Essel Infraprojects.

AGL makes LNG terminal pipeline deal

PFI Issue 627 - June 13, 2018

Pipeline group APA has entered into a development agreement (DA) and an associated 20-year gas transportation agreement (GTA) with AGL Energy for the development and construction of the Crib Point Pakenham Pipeline.

Stressed power plants put for sale

PFI Issue 627 - June 13, 2018

Eleven debt-stressed coal-fired power plants with a combined capacity of 12.64GW are being put up for sale by banks, according to local reports.

Agency seeks environment papers on three IPPs

PFI Issue 627 - June 13, 2018

The Philippine Energy Regulatory Commission (ERC) is seeking environmental compliance certificates (ECCs) on three proposed power plant projects that have power supply agreements with Manila Electric Co (Meralco).

LNG infra gains traction

PFI Issue 627 - June 13, 2018

Expectations for an LNG infrastructure industry in the Philippines are gaining serious traction among foreign players, despite it still being on the drawing board. At least two international players have recently announced their intention to be involved in the development of needed LNG terminals.

Karoon seeks O&G debt

PFI Issue 627 - June 13, 2018

Australian independent Karoon Gas Australia is said to be looking at an acquisition in Brazil and lining up US$1bn of debt in a deal being led by Australian banks.

Poland’s PGNiG in talks on US LNG

PFI Issue 627 - June 13, 2018

Poland’s state-owned gas company PGNiG is in talks to acquire an equity stake in one or more US LNG export projects, Platts reported, citing remarks from Piotr Naimski, the Polish government’s energy infrastructure adviser.

Panda attempts to revive ERCOT suit

PFI Issue 627 - June 13, 2018

Panda Power Funds has asked for an en banc review of a Texas appellate court’s ruling that granted immunity to the Electric Reliability Council of Texas (ERCOT) in a suit filed by the company in 2016.

Petronas takes 25% stake in LNG Canada

PFI Issue 627 - June 13, 2018

Petroliam Nasional (Petronas) is taking a 25% stake in the US$31bn LNG Canada project in Kitimat, British Columbia.

Eletrobras and EDF pen MoU

PFI Issue 627 - June 13, 2018

Brazil’s state power company Eletrobras and France’s Electricite de France (EDF) have signed a memorandum of understanding to explore cooperation on nuclear energy, according to the Brazilian group.

LNG Ltd raises Magnolia offtake funding

PFI Issue 627 - June 13, 2018

LNG Ltd is raising US$22m through a private placement of shares, proceeds of which will be used for LNG offtake marketing efforts and focused primarily on Magnolia LNG in Louisiana. The shares will be sold at US$0.50 each to IDG Energy Investment Group of Hong Kong.

Invenergy preps Thermal Operating unit refi

PFI Issue 627 - June 13, 2018

Invenergy has set a bank for meeting for June 13 on a US$350m first-lien term loan. The seven-year loan at the company’s Invenergy Thermal Operating I unit will refinance existing debt.

New MACH Gen files pre-packaged bankruptcy

PFI Issue 627 - June 13, 2018

Talen Energy’s New MACH Gen and certain subsidiaries have entered into a restructuring support agreement with its first lien lenders and its equity owner that will be implemented through a pre-packaged bankruptcy.

LNG import terminal ready to go

PFI Issue 627 - June 13, 2018

The proposed A$300m (US$228m) LNG gas import terminal that Australian Industrial Energy (AIE) wants to build at Port Kembla in New South Wales is reported to have signed up about 12 offtakers.

Santos to fund new gas project

PFI Issue 627 - June 13, 2018

Santos and its partners in the GLNG project on the east coast of Australia will invest more than A$400m (US$302m) in the 137-well Arcadia coal seam gas project in the Bowen Basin in Queensland’s Central Highlands region.

Kepco seeks partner for Sual plant

PFI Issue 627 - June 13, 2018

Korea Electric Power Corp (Kepco) is planning to develop a 1GW coal-fired power plant in Sual, Pangasinan and is in talks with a local company, Kepco Philippines senior commercial manager Kang Jeong Go told GMA News Online.

PLN 10 on hold

PFI Issue 627 - June 13, 2018

The PLN 10 project is understood to have been put on hold. The project, which was awarded to a consortium comprising Engie, Pertamina and PGN, involves the supply of gas to PLN’s small-scale power plants in a number of islands in Central Indonesia.

Spain

Developing PPAs boost subsidy-free solar

PFI Issue 627 - June 13, 2018

Banks have been appointed to fund two of Spain’s largest unsubsidised PV plants. The projects have different PPA structures, in a sign of a developing power offtake market. By Stefano Berra

REIPPP 5 could replace Expedited Round

PFI Issue 627 - June 13, 2018

South Africa plans to launch a 1,800MW fifth round of its revived renewable energy IPP programme (REIPPP) in November, as fears grow that its Expedited Round of the same size will be cancelled.

Minesto hires PF board members

PFI Issue 627 - June 13, 2018

Swedish marine energy company Minesto has elected two board members with project finance experience.

Formosa 1 loan signed

PFI Issue 627 - June 13, 2018

Macquarie Capital, Orsted and Swancore Industries have signed the NT$17bn (US$596m) loan facility to develop the 128MW Formosa 1 offshore wind power plant.

BMW pens solar PPA

PFI Issue 627 - June 13, 2018

German car giant BMW has signed a long-term power purchase agreement with BayWa to supply 252MWh of solar power per year to its new manufacturing facility in San Luis Potosi. The deal is reportedly worth US$165m.

State utility targets 3GW renewables

PFI Issue 627 - June 13, 2018

Lithuania’s state utility Lietuvos Energija is planning a €2.7bn investment to develop 3GW of new renewable energy projects by 2030.

Mainstream reaches FC on REIPPP 4

PFI Issue 627 - June 13, 2018

International developer Mainstream Renewable Power has raised about US$390m of loans from one bank and five financial institutions in an oversubscribed deal that pushes the tenor and leverage levels in round four of the country’s renewable energy IPP programme (REIPPP).

REUTERS/Nicky Loh - People ride their bicycles in front of wind turbines that generate electricity in Gaomei Wetland in Taichung

Taiwan – Take your marks, get set, go

PFI Issue 627 - June 13, 2018

The first significant pipeline of offshore wind farms outside Northern Europe is to be developed in Taiwan. By James Harris, partner, Singapore and Marianne Chao, Of Counsel, Taipei, Jones Day

Engie buys Langa

PFI Issue 627 - June 13, 2018

French energy group Engie has bought independent renewable power producer Langa to boost its wind and solar footprint.

Trident and EnBW plan floating offshore

PFI Issue 627 - June 13, 2018

German utility EnBW is forming a joint venture with Seattle’s Trident Winds to develop a floating wind project of up to 1GW off the central coast of California.

Kapadia to Lincoln Clean Energy

PFI Issue 627 - June 13, 2018

Solar and wind developer Lincoln Clean Energy (LCE) has appointed former Morgan Stanley renewables banker Vishal Kapadia as senior vice president of finance and corporate development. Kapadia will lead all finance functions for LCE’s renewable energy portfolio.

TerraForm secures Saeta Yield shares

PFI Issue 627 - June 13, 2018

US renewables group TerraForm Power’s offer to buy Spain’s Saeta Yield has been accepted by shareholders controlling 95% of the target’s shares.

Second offshore bids due

PFI Issue 627 - June 13, 2018

Taiwan’s Bureau of Energy, under the Ministry of Economic Affairs, has announced the bidding dates for the second part of the 5.5GW offshore wind energy scheme.

Remote islands into CfD

PFI Issue 627 - June 13, 2018

The Business Energy & Industrial Strategy (BEIS) has allowed the 900MW of Scottish remote island onshore wind schemes into the next contract for difference (CfD) auction.

Triton group out

PFI Issue 627 - June 13, 2018

Fifteen banks have been appointed to fund the £2bn 860MW Triton Knoll offshore wind farm being developed by Germany’s Innogy.

Noor Midelt commercial bids set

PFI Issue 627 - June 13, 2018

Commercial bids for the US$2.2bn Noor Midelt 400MW hybrid solar PV and concentrated solar power (CSP) project are due by July 31.

HSH funds largest Dutch PV

PFI Issue 627 - June 13, 2018

HSH Nordbank has financed the 54.5MW Scaldia solar PV park, the largest solar plant in the Netherlands.

Ellomay signs PV financing

PFI Issue 627 - June 13, 2018

Israeli renewables company Ellomay has signed a €35.9m project finance deal with Mediocredito Italiano and Intesa Sanpaolo to refinance part of its 22MW solar portfolio in Italy.

PPA for 40MW solar

PFI Issue 627 - June 13, 2018

Developer Kenergy Renewables has signed a 20-year power purchase agreement (PPA) with state utility Kenya Power for a 40MW solar plant, its CEO said in an interview with Reuters.

EIB to back solar winners

PFI Issue 627 - June 13, 2018

The European Investment Bank (EIB) is considering a €105m financing for small-to-medium solar PV farms awarded under last year’s renewable energy auction for projects up to 1MW.

Insurer to increase Bujagali hydro stake

PFI Issue 627 - June 13, 2018

Kenya-based insurance company Jubilee is planning to invest about US$44m in the owner of the 250MW Bujagali hydropower PPP, which was restructured earlier this year (see PFI Issue 621).

More than 2.2GW of wind bids submitted

PFI Issue 627 - June 13, 2018

The first stage of Russia’s 2018 renewable energy auction has been massively oversubscribed, with wind farm proposals leading the charge.

Scatec signs first solar

PFI Issue 627 - June 13, 2018

Developer Scatec Solar has signed agreements for two solar projects totalling 88MW under Ukraine’s feed-in-tariff (FiT) scheme.

TuuliWatti into unsubsidised wind farm

PFI Issue 627 - June 13, 2018

Finnish wind company TuuliWatti has committed to invest in the construction of its first unsubsidised wind farm, the 21MW Viinamaki project.

Eiffel funds Amarenco’s 43 solar PVs

PFI Issue 627 - June 13, 2018

The French unit of Irish IPP Amarenco has signed a €5.3m construction bridge loan with Eiffel Investment Group to finance 43 small-scale PV plants.

FCC holdco deal signed

PFI Issue 627 - June 13, 2018

The £200m holdco financing to back FCC’s Eastcroft and Allington waste-to-energy plants has been signed. The 10-year plus amortising deal is split one-third into a floating-rate tranche and two-thirds into a fixed-rate tranche.

Energiepark funds wind farms

PFI Issue 627 - June 13, 2018

Austrian renewables developer Energiepark Bruck/Leitha has financed two onshore wind farms totalling 17MW with €27.3m of loans.

Belfius funds wind farm with EIB

PFI Issue 627 - June 13, 2018

Belfius and the EIB have financed the 8MW Moulins Saint-Roch wind farm in southern Belgium developed by public sector clients under a joint “smart cities” programme.

Buseto wind financed

PFI Issue 627 - June 13, 2018

Renewables company Elettrostudio Energia has financed a 22MW onshore wind farm in Buseto Palizzolo, Sicily.

Atlantica Yield refinances Helios CSPs

PFI Issue 627 - June 13, 2018

Atlantica Yield has closed a refinancing of its Helios 1 and 2 concentrated solar power (CSP) plants with almost €300m of debt provided by a group of eight banks.

Pavua hydro shareholding agreed

PFI Issue 627 - June 13, 2018

Multilateral developer InfraCo Africa has signed a shareholder agreement with local developer Tora Holding for the 160MW Pavua hydropower project in Mozambique.

Urbasolar refinances 160 PVs

PFI Issue 627 - June 13, 2018

French renewables developer Urbasolar has refinanced a portfolio of 160 solar PV plants with €150m of debt.

EBRD backs first Chinese solar

PFI Issue 627 - June 13, 2018

A financing package has been agreed for a 40MW solar plant being developed by China’s Risen Energy in Kazakhstan’s Karaganda region.

Gigawatt Global agrees US$1bn renewables deal

PFI Issue 627 - June 13, 2018

Israel’s Gigawatt Global has signed an MoU to develop 800MW of solar and wind farms in West Africa, starting with Burkina Faso, Senegal, Mali, Nigeria and the Gambia, according to reports.

Tages eyes new PV refinancing

PFI Issue 627 - June 13, 2018

Investor Tages Capital is in discussions with banks to refinance part of its solar PV portfolio after carrying out two successful refinancings last year.

Exus kicks off unsubsidised PV

PFI Issue 627 - June 13, 2018

Spanish renewables asset manager Exus Management Partners has awarded a contract to Portuguese engineering firm Efacec to build two unsubsidised PV plants totalling 36MW.

Two RTR bidders drop out

PFI Issue 627 - June 13, 2018

ERG and Alberta Investment Management have dropped out of the race to buy Terra Firma’s RTR solar company in Italy, according to people looking at the deal.

Windlab secures wind farm approval

PFI Issue 627 - June 13, 2018

A subsidiary of Australia’s Windlab Developments has won the first-ever environmental approval for a 300MW wind farm in Tanzania.

Lekela hires wind farm manager

PFI Issue 627 - June 13, 2018

Africa-focused developer Lekela, founded by Actis and Mainstream Renewable Power, has appointed Massaer Cisse as general manager for Senegal as its 158MW Taiba N’Diaye wind farm approaches financial close.

Washington's Avista out with solar RFP

PFI Issue 627 - June 13, 2018

Washington-based utility Avista has issued a request for proposals (RFP) for up to 50MW of renewable energy.

Appalachian’s Invenergy project deal rejected

PFI Issue 627 - June 13, 2018

West Virginia’s Public Service Commission (PSC) has rejected Appalachian Power’s plan to acquire two wind projects being developed in West Virginia and Ohio by Invenergy.

Terra-Gen TLB downgraded

PFI Issue 627 - June 13, 2018

Moody’s has downgraded a Term Loan B financing backing Terra-Gen Finance Company’s 653MW portfolio of operating wind, solar and geothermal assets.

sPower signs community solar

PFI Issue 627 - June 13, 2018

Renewables developer sPower has signed a 22-year, 100MW solar power purchase agreement (PPA) with CleanPowerSF, a California community choice aggregator (CCA).

FuelCell Energy in talks on PF

PFI Issue 627 - June 13, 2018

FuelCell Energy CFO Mike Bishop said on the company’s quarterly earnings conference call it is in active discussions on financing for a portfolio of 62MW of generation projects in its backlog.

Magellan Wind partners with CIP for floating offshore

PFI Issue 627 - June 13, 2018

Magellan Wind and Copenhagen Infrastructure Partners (CIP) have teamed up to develop an early-stage portfolio of floating offshore wind projects offshore California and other areas of the US.

Paradise Park PV reaches FC

PFI Issue 627 - June 13, 2018

Majority owner Neoen alongside Rekamniar Frontier Ventures and MPC Caribbean Clean Energy Fund have reached financial close on a project financing backing the 51MW Paradise Park PV project.

Rocky Mountain to power Facebook

PFI Issue 627 - June 13, 2018

Facebook’s newly-announced data centre in Eagle Mountain, Utah will be powered by 100% net-new renewable energy acquired through Rocky Mountain Power’s available renewable energy tariff.

Deepwater provides details on Revolution wind

PFI Issue 627 - June 13, 2018

Officials from Deepwater Wind briefed Rhode Island residents on details of the Revolution offshore wind farm, selected for a contract with the state last week.

Wind Catcher wins new support, PPA

PFI Issue 627 - June 13, 2018

American Electric Power (AEP)’s US$4.5bn Wind Catcher project in Oklahoma has won the support of the Oklahoma Municipal Power Authority, Tri-County Electric Cooperative, Gridliance Holdco subsidiary South Central and Oneta Power as it attempts to win regulatory approval.

MidAmerican to reach target with Wind XII

PFI Issue 627 - June 13, 2018

MidAmerican Energy has proposed the US$922m Wind XII wind farm to Iowa regulators, a project that would bring the company to its goal of 100% renewable power earlier than expected.

Fitch notes unique risks in corporate PPAs

PFI Issue 627 - June 13, 2018

The increased use of corporate power purchase agreements (PPAs) by developers is introducing several new risk factors, according to a report from Fitch.

NJ wind bill becomes law

PFI Issue 627 - June 13, 2018

New Jersey governor Phil Murphy has signed offshore wind-enabling legislation into law. The bill requires the New Jersey Board of Public Utilities (BPU) to approve an amended application for a 24MW offshore project near Atlantic City from Fishermen’s Energy.

Longroad closes Rio Bravo wind

PFI Issue 627 - June 13, 2018

Longroad Energy has closed the financing on the US$300m Rio Bravo wind project in Starr County, Texas.

Delaware holds offshore wind talks

PFI Issue 627 - June 13, 2018

Delaware’s offshore wind working group has been holding meetings seeking public input as it works to deliver a report to governor John Carney.

TransAlta yieldco buys wind and solar

PFI Issue 627 - June 13, 2018

The TransAlta Renewables yieldco has acquired an economic interest in the 50MW Lakeswind wind farm in Minnesota and 21MW of solar projects in Massachusetts from TransAlta Corporation. The yieldco also acquired full ownership of the 20MW Kent Breeze wind farm in Ontario.

AES and BAL issue bonds for wind farm

PFI Issue 627 - June 13, 2018

EnerAB, a joint venture between AES Corporation and Grupo BAL, has issued US$376.7m in bonds via a private placement to finance the 306MW Mesa la Paz wind farm in Tamaulipas. They are developing the project alongside Frontera Renovables, an Oak Creek Energy affiliate.

Genneia lands wind financing

PFI Issue 627 - June 13, 2018

Local IPP Genneia has secured a US$141.6m debt financing backing the 101.4MW Pomona wind project in Rio Negro province.

MoU signed for PV and desalination project

PFI Issue 627 - June 13, 2018

Chile’s Trends Industrial and Saudi company Almar Water Solutions have signed a memorandum of understanding to develop a desalination plant powered by a solar photovoltaic project in the Atacama region known as Enapac.

YPF unveils power unit and PF plans

PFI Issue 627 - June 13, 2018

State oil company YPF has launched a new power subsidiary called YPF Luz and expects to invest US$3bn in the affiliate in the coming five years.

Mainstream readies mega wind farm

PFI Issue 627 - June 13, 2018

Mainstream Renewable Power has submitted plans to Chile’s Sistema de Evaluación de Impacto Ambiental (SEIA) for a 310.5MW wind farm in the Bio Bio region.

Developers pen LC for solar projects

PFI Issue 627 - June 13, 2018

The developer group of Kroma Energia, Scatec Solar and Statoil have signed a R$477m (US$124.8m) letter of credit with a group of five banks backing construction of three solar projects in the north-east of Brazil known as the Apodi cluster.

Study identifies 4.8GW of Tassie pumped potential

PFI Issue 627 - June 13, 2018

Pumped hydro could generate 4,800MW of potential capacity across 14 sites in Tasmania, according to a study released last week by Hydro Tasmania and the Australian Renewable Energy Agency (ARENA).

Queensland Uni to build wind farm

PFI Issue 627 - June 13, 2018

The University of Queensland intends to build a 64MW solar farm near Warwick in the southern downs region of the state. The wind farm is intended to supply the entire power needs of the university.

Simec Zen signs solar PPA

PFI Issue 627 - June 13, 2018

South Australian company Simec Zen Energy has signed an eight-year power purchase agreement (PPA) with a consortium headed by the SA Chamber of Mines & Energy to provide power from the yet to be built 220MW Cultana solar farm at Whyalla, according to reports.

APA extends PPA

PFI Issue 627 - June 13, 2018

APA Group has extended the existing power purchase agreement (PPA) with Alinta Energy for the Badgingarra Wind Farm, to include a 17.5MW solar farm. Both projects are expected to be commissioned in early 2019.

Wonwondah wind farm gains approval

PFI Issue 627 - June 13, 2018

The Victorian government has given approval to German developer NewEn to construct the 40MW Rifle Butts wind farm near Horsham. Its Australian subsidiary will now negotiate a transmission network agreement and try to secure a power purchase agreement (PPA).

Sharp to build solar plant

PFI Issue 627 - June 13, 2018

Japanese electronics giant Sharp will develop a second solar power plant in Mongolia’s northern province of Darkhan-Uul.

IWRD to tender solar PPP

PFI Issue 627 - June 13, 2018

The Irrigation & Water Resource Department (IWRD) in the state of Uttar Pradesh has issued a tender for the development of 100MW of grid-connected canal top solar projects under a public-private partnership (PPP) model, according to Mercom.

Greenko acquires Orange Renewables

PFI Issue 627 - June 13, 2018

Greenko Group, which is backed by backed by Singapore’s GIC and Abu Dhabi Investment Authority, has, according to reports, acquired Orange Renewables for an enterprise value of approximately US$1.02bn, which includes US$680m of debt that will be taken over by Greenko.

Azure secures solar finance

PFI Issue 627 - June 13, 2018

The International Finance Corporation, Dutch development bank FMO, the French development finance institution Société de Promotion et de Participation pour la Coopération Economique and the development bank of Austria (Oesterreichische Entwicklungsbank AG) have provided a US$135m loan to solar developer Azure Power to finance rooftop solar across the country. The government has a target of 1,000MW of rooftop solar capacity to be built this year.

Azure wins solar auction

PFI Issue 627 - June 13, 2018

Azure Power has won the bidding to develop 85MW of solar projects across Assam state, according to reports.

Fortum signs solar deal

PFI Issue 627 - June 13, 2018

Finnish clean energy company Fortum has signed an agreement to sell a 54% share of its solar power company operating four solar power plants in India to UK Climate Investments (40%) and Elite Alfred Berg (14%) for around US$176m.

CEL to auction 100MW of solar

PFI Issue 627 - June 13, 2018

Central Electronics Ltd (CEL), a public-sector enterprise of the Government of India, is auctioning 100MW of solar project in Maharashtra, according to Mercom.

SECI signs Gujrai solar deal

PFI Issue 627 - June 13, 2018

Solar Energy Corporation of India (SECI) has signed a deal with ACME Holdings to build 50MW of grid-connected solar photovoltaic (PV) projects in the Gujrai Solar Park, located in the Kanpur Dehat district of Uttar Pradesh. According to reports, ACME Solar Holdings won the bidding for the project with a tariff of Rs3.38 (US$0.0502)/kWh.

Ratch to develop 340MW hydro

PFI Issue 627 - June 13, 2018

Ratchaburi Electricity Generating Holding (Ratch) and its partners will be developing the 340MW Xekong 4A and 4B hydroelectric power project in Laos.

MGen targets 20% of portfolio for renewables

PFI Issue 627 - June 13, 2018

Meralco PowerGen Corp (MGen) is targeting to have 20% of its attributable power capacity sourced from renewable energy in the coming few years.

Macquarie plans 1GW floating wind

PFI Issue 627 - June 13, 2018

Macquarie Group has signed a memorandum of understanding with South Korea’s Gyeongbuk Floating Offshore Wind Power to develop 1GW of offshore wind energy, according to reports.

Ninh Thuan solar construction starts

PFI Issue 627 - June 13, 2018

Sunseap (80%) and partners InfraCo Asia and CMX Renewable Energy Canada held a ground-breaking ceremony today for Vietnam’s largest solar farm, a 168MW project in Ninh Thuan province.

Wpd taps Siemens Gamesa for Yunlin wind farm

PFI Issue 627 - June 13, 2018

Wpd has named Siemens Gamesa Renewable Energy (SGRE) as the preferred turbine supplier for its 640MW Yunlin offshore wind farm about 6km off the coast of Taiwan.

Toll

WestConnex sale gets difficult

PFI Issue 627 - June 13, 2018

The WestConnex sale is down to just two bidders now. And problems still remain with the process. By John Arbouw

Detroit to Windsor

WDBA looks at Gordie Howe bids

PFI Issue 627 - June 13, 2018

Windsor-Detroit Bridge Authority (WDBA) is examining the three Gordie Howe bids. Bidders are facing pressure to reduce costs. By Alison Healey

Ford Ontario victory could change infra

PFI Issue 627 - June 13, 2018

Progressive Conservative (PC) party leader Doug Ford has won the Ontario election and will lead a majority government as Ontario’s next premier.

People Mover financing finalised

PFI Issue 627 - June 13, 2018

LAX Integrated Express Solutions (LINXS) has reached financial close on the 30-year design-build-finance-operate-maintain (DBFOM) Automated People Mover (APM) project at Los Angeles International Airport.

Purple Line opening delayed

PFI Issue 627 - June 13, 2018

Maryland Department of Transportation (MDOT) and Purple Line Transit Partners are expected to implement a new revenue service date on the Purple Line light rail project.

Louisiana gets six responses on Belle Chasse

PFI Issue 627 - June 13, 2018

The Louisiana Department of Transportation & Development (DOTD) has received six responses to a request for qualifications (RFQ) on the Belle Chasse Bridge and Tunnel replacement project.

FTA finalises private investment initiative

PFI Issue 627 - June 13, 2018

The US Department of Transportation (USDOT)’s Federal Transit Administration (FTA) has issued the private investment project procedures (PIPP) final rules, a series of procedures designed to encourage increased private investment in transport projects.

Champlain opening date questioned in report

PFI Issue 627 - June 13, 2018

Federal auditor general Michael Ferguson said it is “uncertain” if the Champlain Bridge will open on time in December despite government and private sector assurances.

Transurban closes A25 acquisition

PFI Issue 627 - June 13, 2018

Transurban has reached financial close on the acquisition of the A25 toll road asset and concession in Montreal.

IFM and BCI acquire stakes in GCT Global

PFI Issue 627 - June 13, 2018

IFM Investors and British Columbia Investment Management (BCI) have agreed to acquire stakes as equity partners in GCT Global Container Terminals (GCT) in Vancouver.

Grupo Romero wins port PPP mandate

PFI Issue 627 - June 13, 2018

Grupo Romero affiliate Consorcio Transportadora Salaverry (CTS) has won the tender to finance, modernise and develop a multi-purpose port as a public-private partnership in Salaverry.

Government courts infra investors

PFI Issue 627 - June 13, 2018

Officials in Colombia have presented a series of 15 major infrastructure projects to investors that are seeking investment.

Ministries to prioritise airport and irrigation works

PFI Issue 627 - June 13, 2018

The Ministry of Transport & Communications (MTC) and the Ministry of Economy & Finance (MEF) have been charged with prioritising the execution of upgrades at the Carlos Martínez de Pinillos airport in Trujillo.

Three bids for railway PPP

PFI Issue 627 - June 13, 2018

The Ministry of Transport & Public Works (MTOP) has opened three offers for the Ferrocarril Central railway public-private partnership.

CCR takes controlling airport stake

PFI Issue 627 - June 13, 2018

Brazilian infrastructure investor CCR will pay US$60m to take a controlling stake in a pair of San Jose airport concessionaires.

Govt launches rail BOT project

PFI Issue 627 - June 13, 2018

The Sri Lankan cabinet is reported to have approved the launch of a build-operate-transfer tender to build an estimated US$800m rail project to connect the coastal town of Beliatta to the international port of Hambantota and Mattala Airport.

Heathrow go ahead, for now

PFI Issue 627 - June 13, 2018

The UK government has approved the £20bn Heathrow north-west runway scheme and will now put the scheme to a parliamentary vote this summer. This could be a very close vote, with some London MPs against the plan. However, others, such as the Scots, favour the option.

West Midlands rail PP wrapping up

PFI Issue 627 - June 13, 2018

The 32-year £110m US private placement (PP) deal to back Corelink Rail Infrastructure, the new rolling stock company backing the West Midlands rail franchise, is wrapping up.

Euroports sale expected

PFI Issue 627 - June 13, 2018

Brookfield, Antin Infrastructure Partners and Arcus Infrastructure Partners are expected to put their pan-European Euroports business up for sale via Citigroup.

HICL increases A63 stake

PFI Issue 627 - June 13, 2018

InfraRed-managed listed fund HICL has bought a 7.2% stake in the A63 toll road concession in southern France for €62m from DIF.

Equiter to sell parking group

PFI Issue 627 - June 13, 2018

A group of investors led by Intesa Sanpaolo’s infrastructure fund manager Equiter is looking to sell its car parking business, four years after buying it from construction company Astaldi.

D4 bids postponed

PFI Issue 627 - June 13, 2018

The Ministry of Transport has delayed the deadline for requests to participate in the tender for the D4 road PPP by a week to July 10.

Govt seeks adviser to start R4 PPP

PFI Issue 627 - June 13, 2018

Flemish public works company De Werkvennootschap is looking for a legal adviser to work on the procurement of the R4 West-East motorway as a PPP.

Extra M4 funding approved

PFI Issue 627 - June 13, 2018

The municipality of Milan has approved a €313m rebalancing plan of the Metro 4 (M4) project’s budget to cover extra costs.

Government seeks more PPPs

PFI Issue 627 - June 13, 2018

Serbia is looking to launch more PPP projects, construction, transport and infrastructure minister Zorana Mihajlovic has said, according to local media reports.

Trieste Airport gets zero bids

PFI Issue 627 - June 13, 2018

The Friuli Venezia Giulia region has received zero offers for the privatisation of Trieste Airport, but said it will launch a new tender later this year.

Doubts over road PPP plan

PFI Issue 627 - June 13, 2018

The future of Spain’s motorway PPP plan and toll road re-tender is uncertain after the ousting of prime minister Mariano Rajoy and appointment of Pedro Sanchez to replace him.

A16 reaches FC

PFI Issue 627 - June 13, 2018

The De Groene Boog consortium has reached financial close on the A16 motorway PPP near Rotterdam in the second major Dutch PPP financing in two weeks.

Road PPP financing returns to Norway

PFI Issue 627 - June 13, 2018

Swedish construction company Skanska has reached financial close on the Rv3/Rv25 motorway, Norway’s first road PPP in a decade.

San Miguel proposes TPLEX extension

PFI Issue 627 - June 13, 2018

San Miguel Corp (SMC) has submitted a new unsolicited proposal for a 100km extension to the Tarlac-Pangasinan-La Union Expressway (TPLEX) to reach Ilocos province.

Cebu port gets South Korean funding

PFI Issue 627 - June 13, 2018

South Korea is providing US$1bn of funds to develop and improve infrastructure in the Philippines.

Chinese company signs road feasibility MoU

PFI Issue 627 - June 13, 2018

Laos’ Ministry of Public Works & Transport (MPWT) and China’s Yunnan Sunny Road and Bridge Co (YSRBC) have signed a memorandum of understanding to conduct a feasibility study for an expressway linking capital city Vientiane and Pakxe in southern Laos.

KfW IPEX funds rail project

PFI Issue 627 - June 13, 2018

KfW IPEX-Bank is providing a US$27.5m loan to the Rapid Metro South Extension Project, where a large German manufacturer has supplied rolling stock, the signalling and the power system.

Lundin makes the first cut

PFI Issue 627 - June 13, 2018

Norwegian oil independent Lundin Petroleum has cut the margin on its US$5bn jumbo reserve-based lending (RBL) facility from 315bp to 225bp. Only one bank out of the 28 in the syndicate has withdrawn as a result.

Karoon seeks O&G debt

PFI Issue 627 - June 13, 2018

Australian independent Karoon Gas Australia is said to be looking at an acquisition in Brazil and lining up US$1bn of debt in a deal being led by Australian banks.

Five bids for Hellenic Petroleum

PFI Issue 627 - June 13, 2018

Five groups have submitted expressions of interest to buy a majority stake in Greek oil company Hellenic Petroleum.

REUTERS/Issei Kato/File - A liquefied natural gas (LNG) carrying vessel sails at Tokyo Bay, offshore of Yokosuka, south of Tokyo, Japan

The incremental LNG project boom

PFI Issue 627 - June 13, 2018

The second wave of LNG project construction is getting under way in Australia and PNG with an estimated capital cost of more than US$10bn. This time around it isn’t massive new projects and financing that are at stake but rather the ability to fund and build incremental expansion at existing projects and provide the flexibility of supply and price demanded by new buyers. By John Arbouw

Poland’s PGNiG in talks on US LNG

PFI Issue 627 - June 13, 2018

Poland’s state-owned gas company PGNiG is in talks to acquire an equity stake in one or more US LNG export projects, Platts reported, citing remarks from Piotr Naimski, the Polish government’s energy infrastructure adviser.

Steelhead LNG names pipeline VP

PFI Issue 627 - June 13, 2018

Steelhead LNG has appointed Corey Goulet as vice president of its pipeline unit, effective July 3.

LNG import terminal ready to go

PFI Issue 627 - June 13, 2018

The proposed A$300m (US$228m) LNG gas import terminal that Australian Industrial Energy (AIE) wants to build at Port Kembla in New South Wales is reported to have signed up about 12 offtakers.

Santos to fund new gas project

PFI Issue 627 - June 13, 2018

Santos and its partners in the GLNG project on the east coast of Australia will invest more than A$400m (US$302m) in the 137-well Arcadia coal seam gas project in the Bowen Basin in Queensland’s Central Highlands region.

Petronas takes 25% stake in LNG Canada

PFI Issue 627 - June 13, 2018

Petroliam Nasional (Petronas) is taking a 25% stake in the US$31bn LNG Canada project in Kitimat, British Columbia.

PLN 10 on hold

PFI Issue 627 - June 13, 2018

The PLN 10 project is understood to have been put on hold. The project, which was awarded to a consortium comprising Engie, Pertamina and PGN, involves the supply of gas to PLN’s small-scale power plants in a number of islands in Central Indonesia.

LNG Ltd raises Magnolia offtake funding

PFI Issue 627 - June 13, 2018

LNG Ltd is raising US$22m through a private placement of shares, proceeds of which will be used for LNG offtake marketing efforts and focused primarily on Magnolia LNG in Louisiana. The shares will be sold at US$0.50 each to IDG Energy Investment Group of Hong Kong.

Schlumberger exits Fortuna LNG

PFI Issue 627 - June 13, 2018

Schlumberger has pulled out of the delayed US$2bn Fortuna floating LNG project and will dissolve its OneLNG partnership with Golar LNG, Golar said.

AGL makes LNG terminal pipeline deal

PFI Issue 627 - June 13, 2018

Pipeline group APA has entered into a development agreement (DA) and an associated 20-year gas transportation agreement (GTA) with AGL Energy for the development and construction of the Crib Point Pakenham Pipeline.

LNG infra gains traction

PFI Issue 627 - June 13, 2018

Expectations for an LNG infrastructure industry in the Philippines are gaining serious traction among foreign players, despite it still being on the drawing board. At least two international players have recently announced their intention to be involved in the development of needed LNG terminals.