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Wednesday, 16 October 2019

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US oil

McDermott decline has potential for widespread impact

PFI Issue 658 - October 9, 2019

Oil and gas contractor McDermott’s continuing financial struggles have the potential to impact project-financed assets globally. The market is waiting on news of a turnaround plan or restructuring. By Alison Healey.

Carlyle launches oil and gas platform

PFI Issue 658 - October 9, 2019

Carlyle Group has launched a new oil and gas platform, Boru Energy, in collaboration with two industry veterans to explore opportunities across sub-Saharan Africa.

Ithaca gets RBL banks

PFI Issue 658 - October 9, 2019

Ithaca Energy has signed in the banks on its expanded US$1.65bn reserve-based lending (RBL) deal as part of its US$2bn purchase of Chevron’s North Sea assets.

Details emerge on Freeport refi

PFI Issue 658 - October 9, 2019

Freeport LNG Liquefaction 2 has closed a US$1.26bn refinancing of Train 2 for the Texas LNG export terminal. The loan has a tenor of 7.25 years and is priced at 150bp over Libor.

NextEra preps project debt for Meade pipeline

PFI Issue 658 - October 9, 2019

NextEra Energy Partners (NEP) has agreed to acquire Meade Pipeline in a deal valued at approximately US$1.37bn.

Akin Gump names DC PF partner

PFI Issue 658 - October 9, 2019

Akin Gump has appointed Sam Kamyans as a partner in its global project finance practice in Washington.

Sidley Austin hires two from Bracewell

PFI Issue 658 - October 9, 2019

Sidley Austin has hired Jessica Adkins and Ron Erlichman as partners in its global energy and infrastructure practice.

Paul Hastings adds two from Baker Botts

PFI Issue 658 - October 9, 2019

Paul Hastings has hired Ned Crady and David Peterman as energy partners in Houston from Baker Botts.

Navigant names three to energy practice

PFI Issue 658 - October 9, 2019

Advisory firm Navigant Consulting has appointed three senior executives to its global energy practice.

Ex-Im gets extension to November 21

PFI Issue 658 - October 9, 2019

US Export-Import Bank has been provided with a reprieve from its charter lapsing, which was due to happen on September 30 if the bank was not reauthorised.

Vinci buys Spanish power grid businesses

PFI Issue 658 - October 9, 2019

French construction group Vinci has bought two Spanish electricity infrastructure companies from Andalusian company Grupo Solar Lighting as it seeks to expand in the Iberian power market.

Japan to invest US$10bn in LNG

PFI Issue 658 - October 9, 2019

Japan is allocating new funds of US$10bn to invest in liquefied natural gas (LNG) projects worldwide.

Grundon progresses West Sussex WtE

PFI Issue 658 - October 9, 2019

Grundon Waste Management, which developed the 410,000-tonnes-per-year Lakeside waste-to-energy (WtE) scheme in Slough, has outlined plans for a 200,000tpa WtE scheme in West Sussex at Ford, near Worthing.

BNPP RBL for Var M&A

PFI Issue 658 - October 9, 2019

BNP Paribas has underwritten a reserve-based lending (RBL) deal to back Var Energi’s US$4.5bn purchase of ExxonMobil’s Norwegian assets. The RBL facility will now be syndicated.

Tanajib cogen bids in

PFI Issue 658 - October 9, 2019

Four teams – ACWA Power, Engie, Kepco and Marubeni – are believed to have bid for Aramco’s Tanajib cogeneration scheme, as expected.

Advisers due on waste sale

PFI Issue 658 - October 9, 2019

JP Morgan and Credit Suisse are believed to have been lined up to advise Wheelabrator on the forthcoming sale of its UK assets.

Four EPC bidders for LNG terminal

PFI Issue 658 - October 9, 2019

A joint venture of gas transportation companies has shortlisted four bidders for an EPC contract to build the German LNG import terminal in Brunsbuettel.

USTDA supports Nigerian energy sector

PFI Issue 658 - October 9, 2019

The US Trade & Development Agency (USTDA) is financing three energy projects in Nigeria to support the US government-led Power Africa initiative.

Evonik gas-fired plant financed

PFI Issue 658 - October 9, 2019

Chemicals company Evonik has financed a 180MW combined-cycle gas-fired power plant at its industrial site in Marl, North Rhine-Westphalia that replaces a coal-fired plant.

Govt to let thermal IPPs expire

PFI Issue 658 - October 9, 2019

Kenya’s energy cabinet secretary Charles Keter said he will let thermal IPP licences expire in an effort to drive down power costs.

Kibo plans 300MW coal plant

PFI Issue 658 - October 9, 2019

Kibo Energy has signed a binding heads of agreement (HoA) with Shumba Energy to reorganise the ownership of the Mabesekwa coal IPP and develop an additional 300MW power plant.

IFC to advise on gas IPP tender

PFI Issue 658 - October 9, 2019

The IFC has signed agreements with the Uzbek government to advise on the tendering of a 1.3GW gas-fired power plant as a PPP.

USTDA seeks project proposals

PFI Issue 658 - October 9, 2019

US Trade and Development Agency (USTDA) is seeking funding proposals from project sponsors in sub-Saharan Africa.

Tullow sounds market on oil basin

PFI Issue 658 - October 9, 2019

Tullow Oil, Total and Canada’s Africa Oil have agreed an information document with the Kenyan government to sound the market for a US$3bn financing of the South Lokichar Basin.

Rovuma EPC awarded

PFI Issue 658 - October 9, 2019

A JGC, Fluor and TechnipFMC consortium have signed the EPC contract on the ExxonMobil-led Rovuma LNG scheme in Mozambique.

Stonepeak Lonestar TLB launched

PFI Issue 658 - October 9, 2019

Stonepeak Lonestar Holdings has launched a US$800m Term Loan B and US$30m revolving credit to recapitalise the project company, which holds equity interests in natural gas joint ventures with Targa Resources.

Invenergy closes Lackawanna refi

PFI Issue 658 - October 9, 2019

Invenergy has closed a US$620.4m refinancing of the term loan debt backing the 1,485MW Lackawanna Energy Center in Pennsylvania. The loan has a 4.5-year tenor maturing at the end of March 2024.

Argo closes transmission deals

PFI Issue 658 - October 9, 2019

Argo Energia, controlled by Patria Investimentos, has closed two debt financings backing transmission projects across Brazil.

NGL sells TPSL

PFI Issue 658 - October 9, 2019

NGL Energy Partners has closed the sale of TransMontaigne Product Services (TPSL) and associated assets for roughly US$275.5m in proceeds, including equity consideration, inventory, and net working capital.

Bayonne refi closes with benchmark low pricing

PFI Issue 658 - October 9, 2019

Morgan Stanley Infrastructure Partners (MSIP) has closed a US$565m refinancing backed by the 644MW Bayonne energy centre in New Jersey after a renegotiation of contracts.

Petrofac sells to Perenco

PFI Issue 658 - October 9, 2019

Oilfield service group Petrofac will sell its remaining 51% interest in its Mexican oilfields to French group Perenco for roughly US$276m. Petrofac sold the other 49% interest to the same group last year.

Buckeye launches US$1.75bn TLB

PFI Issue 658 - October 9, 2019

Pipeline operator Buckeye Partners is launching a US$1.75bn seven-year Term Loan B to support the company’s acquisition by IFM Investors.

Kestrel hit with downgrade

PFI Issue 658 - October 9, 2019

Weak power market fundamentals and its lacking a multi-year hedging strategy has seen Kestrel Acquisition’s US$446m Term Loan B due 2025 and US$40m revolving credit facility downgraded to B1 from Ba3 by Moody’s.

FPSO awards near

PFI Issue 658 - October 9, 2019

Japan’s Modec and Malaysia’s Yinson alongside Japan’s Sumitomo are the two groups expected to land contracts to supply floating production storage and offloading (FPSO) vessels for Petrobras in the Parque des Baleias and Marlim oil fields.

CFE preps power plant tender

PFI Issue 658 - October 9, 2019

The Comision Federal de Electricidad (CFE) is looking to open up tenders for five gas-fired power projects within the next few weeks, according to local press reports.

ECP's Heartland Generation closes financing

PFI Issue 658 - October 9, 2019

Energy Capital Partners (ECP) has closed US$468m in financing for Heartland Generation Acquisition, a project vehicle used to acquire an 815MW portfolio of power generating assets in Western Canada.

Barossa FPSO winner due

PFI Issue 658 - October 9, 2019

The selection of the supply for the floating production, storage and offloading (FPSO) vessel for Chevron’s Barossa scheme is due shortly, with a tight race being reported between Modec and TechnipFMC/Samsung Heavy Industries.

ICG wins the bidding for gas network Enwave

PFI Issue 658 - October 9, 2019

Infrastructure Capital Group is reported to have won the bidding to acquire Brookfield’s gas network business Enwave in a deal worth A$420m.

Metro Clark waits on WtE decision

PFI Issue 658 - October 9, 2019

Metro Clark Waste Management Corp (MCWM) has submitted an unsolicited proposal to build a U$210m waste-to-energy (WtE)facility in New Clark City and is waiting for the government’s decision.

A Brown to enter LNG-to-power

PFI Issue 658 - October 9, 2019

Philippine real estate company A Brown Co Inc (ABCI) is entering the LNG sector in the country.

Excelerate gets go ahead for LNG terminal

PFI Issue 658 - October 9, 2019

Excelerate Energy has received a notice to proceed (NTP) from the Philippine government for its proposed LNG facility.

JERA and RPower select EPC

PFI Issue 658 - October 9, 2019

JERA of Japan and Reliance Power (RPower) of India have appointed Samsung C&T as the engineering, procurement and construction (EPC) contractor for Reliance Bangladesh LNG & Power, the special purpose vehicle set up to develop a 718MW combined-cycle power plant project.

JERA takes 22% stake in Summit

PFI Issue 658 - October 9, 2019

JERA of Japan continues its expansion mode in Bangladesh.

Govt approves AES Son My 2 IPP

PFI Issue 658 - October 9, 2019

The Vietnamese government has approved the development of AES’s 2.2GW Son My 2 combined-cycle gas turbine project.

Gulf bid market hots up

PFI Issue 658 - October 9, 2019

Nine bids are due in the Gulf region in the next couple of months. Bids were submitted last week for Aramco’s Tanajib cogen scheme and the Saudi schools PPP.

Australian wind

Australian renewables go big

PFI Issue 658 - October 9, 2019

Renewable developers are thinking big in Australia. Hydrogen export is one new area but small challenges remain. By John Arbouw.

Floating offshore wind

Floating offshore – Contracting challenges

PFI Issue 658 - October 9, 2019

As the offshore wind market is beginning to take off in Asia and potentially the US, including markets with particularly deep water opportunities, we look at some of the issues around floating offshore wind projects. By Nick Carlin, partner UK, and James Harris, partner Singapore, Pinsent Masons.

Adani Green Energy prices bonds

PFI Issue 658 - October 9, 2019

Adani Green Energy’s US$362.5m offshore 144A/Reg S bond issue has been priced at 4.625%, inside 5% guidance price. The 20-year bonds have a weighted average (WAL) life of 13.47 years.

Equinor strikes Chinese offshore wind deal

PFI Issue 658 - October 9, 2019

Norwegian energy group Equinor has signed a memorandum of understanding with China Power International Holding (CPIH) to cooperate on offshore wind projects in China and Europe.

Corporate renewables demand yields varied contract structures

PFI Issue 658 - October 9, 2019

Extremely strong corporate renewables demand has led to the signing of contracts that show the continued maturation of several contract structures that have become more widely used in the US market.

Masdar appointed on Cirata floating solar

PFI Issue 658 - October 9, 2019

Masdar of the United Arab Emirates has been officially appointed as partner to PLN subsidiary Pembangkitan Jawa Bali (PJB) to develop a 200MW floating solar power plant project on Cirata Dam in West Java, according to Bisnis Indonesia. It will be the largest floating solar project once completed.

Edra Solar sukuk refi detailed

PFI Issue 658 - October 9, 2019

Edra Solar’s proposed M$245m (US$59.3m) sukuk facility to refinance debt on its 50MW solar plant has seven tranches with tenors of three, five, seven, 10, 12, 15 and 18 years. Indicative pricing ranges from 4.15% to 5.2%.

AC Energy and Blue Circle to tap loan funding

PFI Issue 658 - October 9, 2019

AC Energy, the energy platform of the Philippines’ Ayala Group, and Blue Circle will tap limited recourse financing for the first phase of their estimated 700MW renewable energy projects in Vietnam.

Pre-quals in for solar

PFI Issue 658 - October 9, 2019

Pre-qualification bids have been submitted to Botswana Power Corporation (BPC) on its 100MW solar tender, for two 50MW solar farms that bidders will develop, build and operate, selling power to BPC under a power purchase agreement (PPA).

Solar bids opened

PFI Issue 658 - October 9, 2019

Bids are said to have been opened for the 12x15MW solar projects but the results have not yet been revealed. The bids, which came in at between US$0.57/kWh and US$0.089/kWh, are for each individual 15MW scheme.

Statkraft into Shetland wind

PFI Issue 658 - October 9, 2019

Statkraft has been confirmed as the development partner on the Yell wind farm project in Shetland.

FA due for Dogger

PFI Issue 658 - October 9, 2019

The winner of the financial advisory mandate for Sofia, Innogy’s 1.4GW offshore wind scheme off Dogger Bank, is due shortly with bids in and a beauty parade due this week.

INPP refinances early OFTOs

PFI Issue 658 - October 9, 2019

INPP and Transmission Capital Partners (TCP) have refinanced the debt on three early offshore transmission owner (OFTO) schemes – Gunfleet Sands, Robin Rigg and Barrow.

Cubico sale on

PFI Issue 658 - October 9, 2019

Cubico is believed to have lined up an Asian buyer for 50% of its UK wind and solar portfolio in a sales process handled by KPMG.

Groningen wind schemes financed

PFI Issue 658 - October 9, 2019

Eurus Energy and Yard Energy have closed the financing of the Windpark Mauve, Windpark Mondriaan and Windpark Vermeer schemes in Groningen via a 17-year €182.5m loan from Rabobank, SMBC, ABN AMRO and BNG.

Glennmont buys and funds Google wind

PFI Issue 658 - October 9, 2019

Glennmont Partners has bought the 211.4MW Piiparinmaki wind farm in central Finland from Ilmatar Energy and funded the scheme via debt from DekaBank, backed by a power purchase agreement (PPA) from Google for most of the scheme’s output. DEkaBank is the sole underwriter on the project.

Akuo into first wind schemes

PFI Issue 658 - October 9, 2019

French independent power producer Akuo Energy is working on financing two wind schemes in the country via Opic, the 82.5MW Sustainable Akkar and the 68MW Lebanon Wind Power, both in the north-east of the country.

Crown Estate Scotland delays leasing round

PFI Issue 658 - October 9, 2019

Crown Estate Scotland has delayed its latest leasing round for offshore wind projects, ScotWind Leasing, until after Marine Scotland’s draft sectoral marine plan (SMP) is published this autumn. The round was due to start in October.

Solaria plans 450MW Guadalajara PV

PFI Issue 658 - October 9, 2019

Spanish renewables developer Solaria is planning a 450MW solar PV plant, the company’s largest to-date, in Trillo, in Guadalajara province.

Al Dhafra solar put back

PFI Issue 658 - October 9, 2019

EWEC has put back the bid date on its 2GW Al Dhafra solar PV project to November 21 from October 30, as expected.

Celtic Interconnector gets EU grant

PFI Issue 658 - October 9, 2019

Ireland has secured a €530m EU grant to part-finance the €1bn 700MW Celtic Interconnector with France.

Eiffel to crowd-fund Akuo floating solar

PFI Issue 658 - October 9, 2019

French renewables IPP Akuo has agreed to raise crowd-funding for a floating solar PV project from the Eiffel Investment Group’s Allianz Crowdlending platform.

Evalair wind farms financed

PFI Issue 658 - October 9, 2019

Evalair, an Irish renewables group majority-owned by a Japanese consortium, has financed four wind farms totalling 157MW with €235m of debt provided by NordLB.

Forestalia plans 3GW of new projects

PFI Issue 658 - October 9, 2019

Spanish renewables firm Forestalia is planning 3GW of wind and solar PV plants in the province of Teruel, Aragon.

Helia finances PV parks

PFI Issue 658 - October 9, 2019

Helia Renovables, a renewables fund of Plenium Partners and Bankinter, has raised €65m of debt to finance a 12.9MW portfolio of solar PV plants in Spain from BNP Paribas and Credit Agricole.

KGAL signs solar-to-steel PPA via trader

PFI Issue 658 - October 9, 2019

German renewables investor KGAL has signed a five-year power purchase agreement (PPA) for an Italian solar PV plant with steelmaker ORI Martin via Swiss trader DXT Commodities.

Greencoat goes greenhouse

PFI Issue 658 - October 9, 2019

Greencoat Capital has financed a £120m project to build two large greenhouses near Norwich and Bury St Edmunds warmed by waste water from nearby water treatment plants.

Sonnedix refinances PV parks

PFI Issue 658 - October 9, 2019

Renewables IPP Sonnedix has closed a €189m refinancing of a 55MW portfolio of five solar PV parks in France.

Luxcara adds Utrilla PV

PFI Issue 658 - October 9, 2019

German investor Luxcara has bought the 30MW Utrilla solar PV plant in Spain from Hive Energy in its third deal in the country.

Eni awarded 48MW wind farm

PFI Issue 658 - October 9, 2019

Eni, through its joint venture with GE, has been awarded a 48MW wind farm in Kazakhstan’s reverse renewables auction.

Masdar wins Scaling Solar

PFI Issue 658 - October 9, 2019

Masdar has been selected as the preferred bidder in Uzbekistan’s first competitive solar tender.

X-Elio signs 200MW PPA

PFI Issue 658 - October 9, 2019

Renewables firm X-Elio has signed a 12-year power purchase agreement with Galp covering 200MW of solar PV plants in Spain.

Credit Suisse buys Arkona stake

PFI Issue 658 - October 9, 2019

Credit Suisse Energy Infrastructure Partners has bought a 25% stake in the operating 385MW Arkona offshore wind farm in the German Baltic Sea from Norway’s Equinor for €500m.

CGN and Hermes buy Aquila wind farms

PFI Issue 658 - October 9, 2019

China General Nuclear and Hermes Infrastructure have bought a Swedish onshore wind portfolio of more than 800MW from Aquila Capital.

DFIs fund auction-winning solar farm

PFI Issue 658 - October 9, 2019

The EBRD and the Green Climate Fund (GCF) have committed to a US$6.4m loan to finance a 10MW solar farm in Kazakhstan.

EBRD to renew lending facility

PFI Issue 658 - October 9, 2019

The EBRD will provide €200m more to its third Ukraine Sustainable Energy Lending Facility (USELF-III) to continue financing projects in the country.

EF Solare refinances 118MW PVs

PFI Issue 658 - October 9, 2019

Italian solar power company EF Solare has refinanced a portfolio of 118MW of solar PV plants with €320m of debt from six banks.

Eskom preps battery tender

PFI Issue 658 - October 9, 2019

South African utility Eskom is expected to launch a battery storage tender with a view to procuring 1.4GWh by the end of 2021.

InfraVia secures Google PPA

PFI Issue 658 - October 9, 2019

French investor InfraVia has signed a 10-year fixed-price power purchase agreement (PPA) with Google for its 175MW Bjorkvattnet onshore wind farm in Sweden, said InfraVia CEO Vincent Levita.

PF for PV portfolio

PFI Issue 658 - October 9, 2019

China’s Unisun Energy group has secured non-recourse project finance to fund a 6.76MW solar PV portfolio in Hungary.

Technology-neutral renewables tender launched

PFI Issue 658 - October 9, 2019

The Danish Energy Agency has opened a tender in which onshore wind, solar PV and offshore wind will compete against each other.

EIB to fund off-grid solar

PFI Issue 658 - October 9, 2019

The EIB has proposed a US$12m financing package to Fenix International to help finance the company’s off-grid solar home systems in Uganda.

NLMK plans waste-to-energy plant

PFI Issue 658 - October 9, 2019

Russian steel company NLMK is planning a 300MW waste-to-energy recovery power plant at its flagship production site.

Consultants sought for solar plus storage

PFI Issue 658 - October 9, 2019

Gambia, together with the Economic Community of West African States (ECOWAS), is seeking consultants to conduct a feasibility study for a 150MW solar plant with battery storage capabilities.

Govt proposes voluntary tariff reductions

PFI Issue 658 - October 9, 2019

The South African government has offered sponsors from the first three REIPPP rounds to voluntarily renegotiate their original tariffs in a bid to relieve pressure on state utility Eskom.

AfDB approves solar loan

PFI Issue 658 - October 9, 2019

The AfDB has approved an €18m project finance loan and partial risk guarantee for the first phase of the 60MW Djermaya solar project in Chad.

GIG signs virtual wind PPA

PFI Issue 658 - October 9, 2019

Macquarie’s Green Investment Group (GIG) has signed a virtual power purchase agreement (PPA) with lighting company Signify for its 42MW Kisielice wind farm in Poland.

RSV plans 47MW solar plant

PFI Issue 658 - October 9, 2019

Local developer RSV Energy will invest €35.8m in a 47MW solar power plant, the largest in Bosnia’s Una-Sana canton.

Thai group to build solar plant

PFI Issue 658 - October 9, 2019

Thai developer Helios Energy has signed an agreement with the government of Uzbekistan to build a 40MW solar farm in Uzbekistan’s Namangan region.

Hydro partnership formed

PFI Issue 658 - October 9, 2019

Africa50, SN Power, Colas and local group Jovena have formed a partnership to develop the 120MW Volobe hydropower project in Madagascar.

REPDO bid date out back

PFI Issue 658 - October 9, 2019

The Renewable Energy Development Office (REPDO) has delayed the bid date for its large Category B solar PV projects to January 6 from November 18. Four projects are being auctioned in Category B – the 200MW Qurayyat, 300MW Rabigh, 300MW South Jeddah and 600MW Al Faisaliyah.

FC on pathfinder waste PPP

PFI Issue 658 - October 9, 2019

The Beo Cista Energija consortium has reached financial close on its Belgrade waste PPP, with debt sourced from a club of development banks.

Fryslan wind farm financed

PFI Issue 658 - October 9, 2019

The developers of the 382.7MW Fryslan wind farm in the Dutch IJsselmeer have raised €700m of debt from 10 banks to fund the project – the world’s largest wind farm built in inland waters.

FirstEnergy issues RFP for renewables credits

PFI Issue 658 - October 9, 2019

FirstEnergy has issued a request for proposal (RFP) to purchase solar renewable energy credits (SRECs) and renewable energy credits (RECs) for its Ohio utilities, which include Ohio Edison, The Illuminating Company and Toledo Edison.

NIPSCO seeks renewables capacity

PFI Issue 658 - October 9, 2019

Northern Indiana Public Service Company (NIPSCO) has issued a request for proposals (RFP) for 300MW of wind and wind-paired storage, 2.3GW of solar and solar-paired storage, and an unspecified amount of thermal and other capacity resources to satisfy the utility’s 2023 capacity needs.

Tri Global sells Texas wind to Silverpeak

PFI Issue 658 - October 9, 2019

Texas-based wind developer Tri Global Energy has agreed to sell the 360MW Canyon wind project to alternative investment firm Silverpeak.

Connecticut offshore bids in

PFI Issue 658 - October 9, 2019

Three bids have been submitted for Connecticut’s Department of Energy & Environmental Protection (DEEP) and Bureau of Energy Technology Policy procurement of up to 2GW of offshore wind.

US$2bn solar/data project moves forward

PFI Issue 658 - October 9, 2019

Chesterfield County, Virginia has approved a US$2bn combined data centre and solar project at a nearly 1,700-acre site designated as the Matoaca mega site.

Scout closes Texas wind finance

PFI Issue 658 - October 9, 2019

Quinbrook Infrastructure Partners’ Scout Clean Energy unit has closed construction financing and tax equity commitments on the 180MW Heart of Texas wind farm in McCulloch County, Texas.

Helios finances North Carolina solar

PFI Issue 658 - October 9, 2019

Helios Infrastructure Fund, a joint venture of Sol Systems and insurer Nationwide, has completed financing and construction of its first solar portfolio, comprising eight projects in North Carolina totalling 48.4MW.

Cleanaway and Macquarie to build waste plant

PFI Issue 658 - October 9, 2019

Cleanaway Waste Management and Macquarie Capital’s Green Investment Group (GIG) are planning to build a A$500m waste-to-energy (WtE) project in western Sydney.

Incitec Pivot secures grant for renewable energy

PFI Issue 658 - October 9, 2019

Publicly listed fertiliser company Incitec Pivot, through its explosive company Dyno Nobel, has received a grant of A$980,000 from the Australian Renewable Energy Agency to support feasibility studies to use large-scale renewables for the production of ammonia.

KP/CLP to build wind project

PFI Issue 658 - October 9, 2019

KP Energy and CLP India are reported to have teamed up to build a 250.8MW wind project at Dwarka in Gujarat.

Masdar looks to buy stake in HFE

PFI Issue 658 - October 9, 2019

Abu Dhabi government-owned Masdar Clean Energy is reported to be looking to buy a 20% stake in Hero Future Energies (HFE) for about US$150m.

MSEDCL to develop bagasse power

PFI Issue 658 - October 9, 2019

Maharashtra State Electricity Distribution Company Ltd (MSEDCL) is reported to be inviting bids to develop 50MW of power generated from bagasse-based co-generation power projects in the state.

SECI completes 2,000MW solar auction

PFI Issue 658 - October 9, 2019

Solar Energy Corporation of India (SECI) is reported to have completed the auction of 2,000MW of grid-connected solar projects (Tranche-I) under the second phase of the Central Public Sector Undertaking (CPSU).

SECI to auction 200MW of renewables

PFI Issue 658 - October 9, 2019

Solar Energy Corporation of India (SECI) is reported to be inviting bids to develop 200MW of grid-connected renewable energy projects.

Tina Hydropower secures hydro funding

PFI Issue 658 - October 9, 2019

Tina Hydropower has received US$201m from a range of development agencies and US$30m in a grant and loan agreement from the Asia Development Bank (ADB) to build a dam and 15MW hydropower project.

UP pushes developers to lower wind tariffs

PFI Issue 658 - October 9, 2019

The Uttar Pradesh government is reported to have stopped buying power from about 650MW of wind power projects in a move seen as putting pressure on the affected developers to lower the Rs3.46 (US$0.049) per unit set under the power prices agreement.

Scatec completes equity placement

PFI Issue 658 - October 9, 2019

Scatec Solar has completed a NKr1.32bn (US$147m) private placement through the issuance of 11.375m new shares.

EIB and BSTDB agree joint lending facility

PFI Issue 658 - October 9, 2019

The EIB and the Black Sea Trade and Development Bank (BSTDB) have signed agreements to jointly provide €100m for new investments across Greece, Romania and Bulgaria.

EDP gets BofA wind equity commitment

PFI Issue 658 - October 9, 2019

EDP Renewables North America has secured a commitment for US$421m of institutional equity financing from Bank of America in exchange for an interest in a 405MW wind portfolio. The size of the stake has not been disclosed.

E.ON lines up repowering tax equity

PFI Issue 658 - October 9, 2019

E.ON has secured more than US$200m in tax equity financing to repower its Panther Creek I and II wind farms in Texas.

Intersect holds finance talks

PFI Issue 658 - October 9, 2019

Intersect Power, a utility-scale renewable energy developer formed by former executives of Recurrent Energy, has started talks with banks, institutional investors, and tax equity providers for its 1.7GW late-stage development portfolio of US solar projects.

Orsted eyes Delaware park for interconnection

PFI Issue 658 - October 9, 2019

Delaware’s Department of Natural Resources and Environmental Control (DNREC) is considering a partnership with Orsted that would enable the offshore wind developer to build an interconnection facility in a state park.

Virginia presses ahead on solar deals

PFI Issue 658 - October 9, 2019

The State of Virginia has greenlighted a number of new solar projects as Dominion considers adding solar at an airport and has acquired new projects in the state.

NY launches offshore wind port P3

PFI Issue 658 - October 9, 2019

The New York State Energy Research & Development Authority (NYSERDA), Empire State Development, and the New York Department of Transportation have issued a request for qualifications (RFQ) seeking a private partner to upgrade the state’s port infrastructure to support offshore wind development.

Kalina seeks PF for distributed gen

PFI Issue 658 - October 9, 2019

Australian power technology provider Kalina Power’s Canadian subsidiary is seeking C$300m (US$227m) in project finance to back a portfolio of five distributed power assets in Alberta.

Perimeter signs TC Energy for solar

PFI Issue 658 - October 9, 2019

Perimeter Solar has signed a power purchase agreement (PPA) with oil and gas developer TC Energy for 74.25MW of power from its proposed 130MW solar farm in Alberta.

AES pens Google PPA

PFI Issue 658 - October 9, 2019

Power company AES Gener has signed a power purchase agreement (PPA) with Google to supply 440GWh annually of renewable energy over 14 years for the expansion of its data centre in Quilicura, Santiago.

Paradise Park comes online

PFI Issue 658 - October 9, 2019

MPC Capital, Neoen, and Rekamniar Frontier Ventures have inaugurated the 51.5MW Paradise Park solar photovoltaic scheme.

Chinese solar scheme comes online

PFI Issue 658 - October 9, 2019

PowerChina and Shanghai Electric Power Construction Co have brought online the first 200MW of the first 300MW phase of the Cauchari solar scheme in Jujuy.

Cubico brings renewables portfolio online

PFI Issue 658 - October 9, 2019

Canadian pension fund-backed Cubico Sustainable Investments has reached commercial operation on a 600MW renewable portfolio in Mexico.

CFE shores up balance sheet

PFI Issue 658 - October 9, 2019

Mexican state-run utility Comision Federal de Electricidad (CFE) has signed a Ps8.8bn (US$450m) Term Loan A for general corporate purposes and to refinance debt.

CPFL deal closed

PFI Issue 658 - October 9, 2019

Local power group CPFL Energia has closed its purchase of China’s State Grid’s stake in its renewables arm CPFL Renovaveis, according to a securities filing.

Genneia’s Madryn starts spinning

PFI Issue 658 - October 9, 2019

Local IPP Genneia has landed commercial authorisation from power market administrator Cammesa for the second phase of its 222MW Parque Eolico Madryn (PEM) wind complex to start feeding power to the grid.

ANLA approves Celsia solar

PFI Issue 658 - October 9, 2019

Environmental authority ANLA has approved Celsia’s 100MW Celsia Solar Chicamocha project in Santander.

IEnova signs capacity agreements

PFI Issue 658 - October 9, 2019

Sempra Energy through Mexican subsidiary Infraestructura Energética Nova (IEnova) has signed two 15-year power purchase agreements with private buyers, subsidiaries of Comercializadora Círculo CCK and El Puerto de Liverpool.

OPDEnergy closes solar deals

PFI Issue 658 - October 9, 2019

Spain’s OPDEnergy has closed a project finance package totalling US$86m with SMBC backing 144.2MW of solar generation across two projects.

Iberdrola plots offshore wind project

PFI Issue 658 - October 9, 2019

Iberdrola through local affiliate Neoenergia is planning to build the largest offshore wind project in Latin America off the coast of the Brazilian states of Piaui and Bahia.

Aneel approves auction winners

PFI Issue 658 - October 9, 2019

Power sector regulator Aneel has approved 401.6MW of projects that won contracts during June 28’s A-4 auction.

Renewable portfolio deal prepped

PFI Issue 658 - October 9, 2019

Germany’s wpd has mandated leads and is looking for more banks as it structures a project financing backing a portfolio of wind assets.

AES Gener prices bonds

PFI Issue 658 - October 9, 2019

Electricity generator and distributor AES Gener has priced a US$450m, 60-year green hybrid 144A/RegS bond issue to buy back debt and for corporate purposes.

Lightsource closes portfolio finance

PFI Issue 658 - October 9, 2019

Lightsource BP has closed US$140m in financing for a 125MW, seven-project solar portfolio across the US. NatWest was lead arranger on the debt.

Formosa 2 loan signed

PFI Issue 658 - October 9, 2019

Macquarie Capital and Swancor Renewable Energy (SRE) have signed an 18-year NT$60bn (US$2bn) loan package to finance the development of the 376MW Formosa 2 offshore wind project in the Miaoli region.

Hep Global raises solar loan

PFI Issue 658 - October 9, 2019

Germany’s Hep Global has raised a 19-year €26m loan facility to finance the development of a 13.2MW solar energy project that will be developed by subsidiary and project company Hep - Solar Sunrise.

METI concludes fourth solar auction

PFI Issue 658 - October 9, 2019

Japan’s Ministry of Economy, Trade & Industry (METI) has concluded its fourth auction for solar energy capacity.

Sunseap wins latest rooftop solar deal

PFI Issue 658 - October 9, 2019

Sustainable energy provider Sunseap Group, through Sunseap Leasing, has won a tender to install more than 170,000 rooftop solar panels on 1,200 Housing & Development Board (HDB) buildings and 49 government sites.

Tengeh floating solar attracts four

PFI Issue 658 - October 9, 2019

Singapore’s Public Utility Board (PUB) has received four bids for the development of a 50MW floating solar energy project at Tengeh reservoir. One is from Malaysia and one from Australia. The other two are Singapore companies.

Meralco aims for 1.5GW renewables

PFI Issue 658 - October 9, 2019

Manila Electric Co (Meralco) is looking at procuring up to 1.5GW of renewable energy for its portfolio.

NSW to provide grants to renewable projects

PFI Issue 658 - October 9, 2019

The New South Wales Government will provide grants to projects it will select from a 21-strong shortlist of renewable energy and energy storage projects.

Horizon Power to replace poles and wires

PFI Issue 658 - October 9, 2019

West Australian power authority Horizon Power will install 17 standalone power systems in the Esperance region.

Heelstone names business development execs

PFI Issue 658 - October 9, 2019

Utility-scale solar developer Heelstone Renewable Energy has hired Jeff Corder as chief commercial officer and Dean Akey as executive vice-president of business development.

CalCom launches agricultural solar fund

PFI Issue 658 - October 9, 2019

Agricultural solar developer CalCom Energy has launched a US$100m energy infrastructure fund that will back solar and energy storage projects benefiting farming communities in California.

B&V and Alma to invest in renewables

PFI Issue 658 - October 9, 2019

Black & Veatch’s Diode Ventures turnkey asset development unit has partnered with Alma Global Infrastructure, an affiliate of Canada’s Montrusco Bolton Investments, to support a US$200m pipeline of international renewable energy investments.

Ostensjo partners on offshore wind vessels

PFI Issue 658 - October 9, 2019

Norway’s Ostensjo Rederi has entered a memorandum of understanding (MoU) to establish a partnership with Washington-based Foss Maritime that will provide service operation vessels (SOVs) for offshore wind projects in the US.

LatAm govts set bullish renewables goals

PFI Issue 658 - October 9, 2019

Latin American countries have set a collective target of 70% renewable energy use by 2030 after Colombia presented the target to the United Nations Climate Action Summit late in September.

Kramer joins Equis as chief legal counsel

PFI Issue 658 - October 9, 2019

Richard Kramer has joined Equis as its group general counsel based in Singapore.

Eni into Mainstream renewables

PFI Issue 658 - October 9, 2019

Italian oil group Eni and Ireland’s Mainstream Renewable Power have signed a cooperation agreement on large-scale renewable projects, starting with UK offshore wind.

UniCredit launches sustainable finance advisory

PFI Issue 658 - October 9, 2019

UniCredit has set up a sustainable finance advisory team to facilitate green financing.

GIP team refinances Vena acquisition

PFI Issue 658 - October 9, 2019

The consortium of Global Infrastructure Partners (GIP), PSP Investments and CIC Capital is understood to have completed the refinancing of the acquisition financing for the assets of Equis Energy, now Vena Energy.

First floating solar in Vietnam gets ADB funding

PFI Issue 658 - October 9, 2019

Da Nhim–Ham Thuan–Da Mi Hydro Power Joint Stock Company (DHD) has secured a US$37m corporate loan facility for the development of a 47.5MW peak floating photovoltaic (PV) solar power facility on its existing 175MW Da Mi hydropower plant.

Potential offshore wind projects emerge

PFI Issue 658 - October 9, 2019

Developers have proposed at least six offshore wind projects in the last month.

Chinese renewable JV signed

PFI Issue 658 - October 9, 2019

Bangladesh’s North-West Power Generation and China National Machinery Import and Export Group (CMC) have set up project company Bangladesh-China Renewable Energy to develop up to 500MW of renewable energy by 2023.

Govt tells departments to install rooftop solar

PFI Issue 658 - October 9, 2019

The government has told its offices to install rooftop solar during the next four years as part of its move to encourage use of solar energy. It hopes to entice the private sector to do the same.

JICA to advise on Legok Nangka WtE

PFI Issue 658 - October 9, 2019

Japan International Cooperation Agency (JICA) has been appointed transaction adviser to Indonesia’s Ministry of Finance (MoF) for the Legok Nangka waste-to-energy (WtE) public-private partnership (PPP) project.

Cypark Ref solar sukuk gets AA3 rating

PFI Issue 658 - October 9, 2019

RAM Ratings has assigned a AA3 rating to the M$550m (US$137.5m) SRI sukuk murabahah programme that Cypark Ref plans to issue. The programme will have a tenor of up to 22 years.

Turkey bridge

North Marmara Highway refinanced

PFI Issue 658 - October 9, 2019

The huge road PPP refinancing overcame macroeconomic concerns. Pricing dropped and new debt funded higher construction costs. By Peter Collins

Palau

Palau gets its first international PPP

PFI Issue 658 - October 9, 2019

The first PPP project in Palau achieved first draw-down in August 2019 and could be a model PPP for the country. In this article, Japan International Cooperation Agency (JICA), as sole lender, and Nagashima Ohno & Tsunematsu (NO&T), as lender’s legal adviser, provide an overview of the financing of the renovation, expansion and management of Palau International Airport project and describe some of its notable features. By Yuichiro Sano, Eiichi Murashima and Toshiaki Ano of JICA, and Shinichi Matsui, Rintaro Hirano and Naoko Kamimura of NO&T.

Metro bids in as PF nears

PFI Issue 658 - October 9, 2019

Two international consortia have submitted bids to deliver the maiden line of the Bogota metro public-private partnership as the financing continues to be structured.

Bond deal planned for highway PPP

PFI Issue 658 - October 9, 2019

The Rutas del Este consortium through special purpose vehicle Rutas 2 and 7 Finance Ltd is looking to issue long-term bonds backing works on its 30-year highway public-private partnership.

GIP invests in Washington state airport

PFI Issue 658 - October 9, 2019

Global Infrastructure Partners (GIP) has made an undisclosed investment in Propeller Airports’ Paine Field passenger terminal in Everett, Washington.

Adani Ports takes control of Dighi Ports

PFI Issue 658 - October 9, 2019

Adani Ports & Special Economic Zone is reported to have won approval from the lenders of the debt-laden Dighi Port in Maharashtra to take over the port, which is estimated to have an enterprise value of US$13bn.

Brookfield looks to refinance WA rail business

PFI Issue 658 - October 9, 2019

Brookfield’s Arc Infrastructure WA is reported to be in talks with lenders to secure about A$250m to refinance a A$150m loan obtained in 2017.

QIC and Schiphol win Hobart Airport auction

PFI Issue 658 - October 9, 2019

Queensland fund manager QIC and its partner Schiphol are reported to have won the bidding to buy a 70% stake in the Hobart Airport in Tasmania.

Agreement reached on Jakarta-Surabaya rail

PFI Issue 658 - October 9, 2019

Indonesia and Japan have reached agreement on the outline for the medium-speed train project linking Jakarta and the country’s second largest city Surabaya.

SMC prepares unsolicited proposal for EDSA

PFI Issue 658 - October 9, 2019

San Miguel Corp (SMC) is preparing to submit an unsolicited proposal to develop an elevated expressway above Epifanio de los Santos Avenue (EDSA), one of the most congested highways in Metro Manila.

Transurban Queensland debt details

PFI Issue 658 - October 9, 2019

Transurban Queensland (TQ), in which Transurban has a 62.5% interest, has successfully raised A$500m of non-recourse debt via a new syndicated bank debt facility with a tenor of three years.

GMR Infra and Thai AirAsia to bid for U-Tapao

PFI Issue 658 - October 9, 2019

GMR Infra is teaming up with low-fare carrier Thai AirAsia as part of a consortium to bid for the US$2bn U-Tapao airport expansion.

Gulf MTP signs Map Ta Phut deal

PFI Issue 658 - October 9, 2019

Industrial Estate Authority of Thailand (IEAT) has signed a public-private partnership (PPP) contract with Gulf MTP LNG Terminal for the expansion of the Map Ta Phut Industrial Estate phase 3 (MTP3).

Expressways may be offered in open tender

PFI Issue 658 - October 9, 2019

Vietnam’s Ministry of Transport (MoT) is looking at conducting open competitive international bidding for eight road projects within the eastern section of the North-South Expressway.

NEDA approves NAIA proposal

PFI Issue 658 - October 9, 2019

The Philippine National Economic & Development Authority (NEDA) Board’s investment coordination committee-cabinet committee (ICC-CabCom) has approved an unsolicited proposal to rehabilitate Ninoy Aquino International Airport (NAIA) by the NAIA Consortium near Manila.

Adviser due on causeway

PFI Issue 658 - October 9, 2019

KPMG is believed to have won the advisory contract on the US$4bn Bahrain causeway expansion scheme. Deloitte was the other shortlisted bidder. Other bidders in the competition were PwC, EY and BDO. The client is King Fahd Causeway Authority (KFCA).

Adviser due on metro

PFI Issue 658 - October 9, 2019

Deloitte is believed to have won the competition to advise on the US$8bn Mecca metro scheme, ahead of PwC. The mandate is said to concern pre-transaction work.

Northern Powerhouse Rail consultant sought

PFI Issue 658 - October 9, 2019

Transport for the North, the public sector-backed body behind the Northern Powerhouse concept, is seeking a consultant to work on the final business case (FBC) of its Northern Powerhouse Rail (NPR) scheme. The strategic business case has already been submitted.

B247 PPP tender launched

PFI Issue 658 - October 9, 2019

German road agency DEGES has launched a PPP tender for a stretch of the B247 federal road in Thuringia.

A94 reaches completion

PFI Issue 658 - October 9, 2019

A BAM-led consortium has completed construction of the A94 motorway PPP in Bavaria ahead of time.

Govt shelves Kampala-Jinja PPP

PFI Issue 658 - October 9, 2019

Uganda’s President Yoweri Museveni has invited China Railway 17th Bureau to begin negotiations for the Kampala-Jinja expressway, thus shelving the on-going PPP tender.

M4 closes debt restructuring

PFI Issue 658 - October 9, 2019

The sponsors of the M4 metro line project in Milan have closed a €400m debt deal to restructure the PPP’s financing, following construction delays and the insolvency of shareholder Astaldi.

Three selected on R4

PFI Issue 658 - October 9, 2019

Flemish public works company De Werkvennootschap has selected three bidders for the €900m expansion of the R4 West-East road PPP, one of Belgium’s largest PPPs.

China Exim to finance Kribi port

PFI Issue 658 - October 9, 2019

A consortium of China’s CHEC, France’s Bollore and CMA CGM will finance the second phase of the Kribi deepwater port with debt from China Exim.

USTDA seeks project proposals

PFI Issue 658 - October 9, 2019

US Trade and Development Agency (USTDA) is seeking funding proposals from project sponsors in sub-Saharan Africa.

Yamoussoukro road PPP secures PF

PFI Issue 658 - October 9, 2019

PFO Africa has secured a CFA Fr32.5bn (US$54.3m) loan from Morocco’s BCP Group, through its Atlantic Bank affiliate, to finance a road PPP project in Yamoussoukro.

ACS closes Barcelona metro refi

PFI Issue 658 - October 9, 2019

The ACS-led sponsors of the Barcelona Metro Line 9 Tranche 2 have closed a €725m refinancing of the project’s debt.

Brebemi bonds set for pricing

PFI Issue 658 - October 9, 2019

The Brebemi toll road project company is set to price a €1.8bn bond refinancing this week, after completing a bond roadshow on October 8 as PFI went to press.

Eurostar and Thalys to combine HSR

PFI Issue 658 - October 9, 2019

Train operators Eurostar and Thalys are looking to combine their high-speed rail operations across France, the UK, Belgium, the Netherlands and Germany.

EIB and BSTDB agree joint lending facility

PFI Issue 658 - October 9, 2019

The EIB and the Black Sea Trade and Development Bank (BSTDB) have signed agreements to jointly provide €100m for new investments across Greece, Romania and Bulgaria.

TIFIA sought for Kansas City Airport

PFI Issue 658 - October 9, 2019

Kansas City International Airport officials have applied for Transportation Infrastructure Finance & Innovation Act (TIFIA) funding for the US$1.5bn terminal public-private partnership.

Patriot Rail & Ports launches Term Loan B

PFI Issue 658 - October 9, 2019

Patriot Rail & Ports has launched a US$285m seven-year Term Loan B and US$40m five-year revolving credit.

Sacyr team opens highway PPP

PFI Issue 658 - October 9, 2019

The team of Spain’s Sacyr and Uruguay’s Grinor has completed the works on the Ruta 24 highway public-private partnership 12 months earlier than expected.

Sotramac closes concession financing

PFI Issue 658 - October 9, 2019

Bus concessions operator Sotramac has closed a Ps220bn (US$63.5m) financing backing the third Transcaribe transport concession in Cartagena.

Miami-Dade issues RFP on Beach Corridor

PFI Issue 658 - October 9, 2019

Miami-Dade Department of Transportation & Public Works has issued a request for proposals (RFP) seeking a private partner to design, build, finance, operate, and maintain the Beach Corridor rapid transit line that will link Miami Beach to downtown Miami.

Loan closed for Lima metro

PFI Issue 658 - October 9, 2019

The consortium behind the Lima Metro line 2 project has signed a US$150m, two-year revolver backing construction of the scheme.

Carlyle launches oil and gas platform

PFI Issue 658 - October 9, 2019

Carlyle Group has launched a new oil and gas platform, Boru Energy, in collaboration with two industry veterans to explore opportunities across sub-Saharan Africa.

Ithaca gets RBL banks

PFI Issue 658 - October 9, 2019

Ithaca Energy has signed in the banks on its expanded US$1.65bn reserve-based lending (RBL) deal as part of its US$2bn purchase of Chevron’s North Sea assets.

BNPP RBL for Var M&A

PFI Issue 658 - October 9, 2019

BNP Paribas has underwritten a reserve-based lending (RBL) deal to back Var Energi’s US$4.5bn purchase of ExxonMobil’s Norwegian assets. The RBL facility will now be syndicated.

Tullow sounds market on oil basin

PFI Issue 658 - October 9, 2019

Tullow Oil, Total and Canada’s Africa Oil have agreed an information document with the Kenyan government to sound the market for a US$3bn financing of the South Lokichar Basin.

Paul Hastings adds two from Baker Botts

PFI Issue 658 - October 9, 2019

Paul Hastings has hired Ned Crady and David Peterman as energy partners in Houston from Baker Botts.

Stonepeak Lonestar TLB launched

PFI Issue 658 - October 9, 2019

Stonepeak Lonestar Holdings has launched a US$800m Term Loan B and US$30m revolving credit to recapitalise the project company, which holds equity interests in natural gas joint ventures with Targa Resources.

NGL sells TPSL

PFI Issue 658 - October 9, 2019

NGL Energy Partners has closed the sale of TransMontaigne Product Services (TPSL) and associated assets for roughly US$275.5m in proceeds, including equity consideration, inventory, and net working capital.

Petrofac sells to Perenco

PFI Issue 658 - October 9, 2019

Oilfield service group Petrofac will sell its remaining 51% interest in its Mexican oilfields to French group Perenco for roughly US$276m. Petrofac sold the other 49% interest to the same group last year.

Buckeye launches US$1.75bn TLB

PFI Issue 658 - October 9, 2019

Pipeline operator Buckeye Partners is launching a US$1.75bn seven-year Term Loan B to support the company’s acquisition by IFM Investors.

FPSO awards near

PFI Issue 658 - October 9, 2019

Japan’s Modec and Malaysia’s Yinson alongside Japan’s Sumitomo are the two groups expected to land contracts to supply floating production storage and offloading (FPSO) vessels for Petrobras in the Parque des Baleias and Marlim oil fields.

NextEra preps project debt for Meade pipeline

PFI Issue 658 - October 9, 2019

NextEra Energy Partners (NEP) has agreed to acquire Meade Pipeline in a deal valued at approximately US$1.37bn.

Barossa FPSO winner due

PFI Issue 658 - October 9, 2019

The selection of the supply for the floating production, storage and offloading (FPSO) vessel for Chevron’s Barossa scheme is due shortly, with a tight race being reported between Modec and TechnipFMC/Samsung Heavy Industries.

ICG wins the bidding for gas network Enwave

PFI Issue 658 - October 9, 2019

Infrastructure Capital Group is reported to have won the bidding to acquire Brookfield’s gas network business Enwave in a deal worth A$420m.

US oil

McDermott decline has potential for widespread impact

PFI Issue 658 - October 9, 2019

Oil and gas contractor McDermott’s continuing financial struggles have the potential to impact project-financed assets globally. The market is waiting on news of a turnaround plan or restructuring. By Alison Healey.

Details emerge on Freeport refi

PFI Issue 658 - October 9, 2019

Freeport LNG Liquefaction 2 has closed a US$1.26bn refinancing of Train 2 for the Texas LNG export terminal. The loan has a tenor of 7.25 years and is priced at 150bp over Libor.

US Ex-Im approves US$5bn LNG loan

PFI Issue 658 - October 9, 2019

US Ex-Im’s board of directors has unanimously approved a US$5bn direct loan for the development of the Anadarko-led LNG scheme in Mozambique.

Rovuma EPC awarded

PFI Issue 658 - October 9, 2019

A JGC, Fluor and TechnipFMC consortium have signed the EPC contract on the ExxonMobil-led Rovuma LNG scheme in Mozambique.

Ex-Im gets extension to November 21

PFI Issue 658 - October 9, 2019

US Export-Import Bank has been provided with a reprieve from its charter lapsing, which was due to happen on September 30 if the bank was not reauthorised.

Four EPC bidders for LNG terminal

PFI Issue 658 - October 9, 2019

A joint venture of gas transportation companies has shortlisted four bidders for an EPC contract to build the German LNG import terminal in Brunsbuettel.

Japan to invest US$10bn in LNG

PFI Issue 658 - October 9, 2019

Japan is allocating new funds of US$10bn to invest in liquefied natural gas (LNG) projects worldwide.

A Brown to enter LNG-to-power

PFI Issue 658 - October 9, 2019

Philippine real estate company A Brown Co Inc (ABCI) is entering the LNG sector in the country.

Excelerate gets go ahead for LNG terminal

PFI Issue 658 - October 9, 2019

Excelerate Energy has received a notice to proceed (NTP) from the Philippine government for its proposed LNG facility.