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Monday, 21 August 2017

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Paiton launches big refi package

PFI Issue 606 - July 26, 2017

Paiton Energy has launched a loan and bond financing package. This is the biggest power refinancing seen in Indonesia so far. By Minerva Lau

Advisories won on mega O&G deals

PFI Issue 606 - July 26, 2017

Nigerian National Petroleum Corporation (NNPC) is expected shortly to award three mega financial advisory mandates to teams made up of international and local firms. Two of the deals, backed by oil and LNG receivables, should lead to large debt financings fairly quickly to fund new capital expenditure.

Ras Al Khair bids in

PFI Issue 606 - July 26, 2017

Water & Electricity Company (WEC) and Saline Water Conversion Corporation (SWCC) have received the advisory bids to work on the privatisation of their monster Ras Al Khair desalination plant.

Saudi

Maiden bond is a complex issue

PFI Issue 606 - July 26, 2017

The ACWA Power Management & Investments One transaction is a complex structured bond issuance, with a number of firsts attached to its name. Rohit Sinha, director of acquisitions and project finance, Shariq Rahman, director of corporate finance, and Arvind Mishra, executive director of tax, ACWA Power discuss the structuring and implementation.

Cape Town, South Africa

Sub-Saharan pools and interconnectors

PFI Issue 606 - July 26, 2017

This article takes a look at the main power pools in sub-Saharan Africa (SSA), some of the key interconnector transmission projects in the region and some of the challenges they face. By Steven Gamble, director, Richard Metcalf, partner and Daniel Leslie, attorney, Norton Rose Fulbright.

GSP tender back on

PFI Issue 606 - July 26, 2017

The Peruvian Government is looking to launch an international tender next year for a company or consortium to take over the stalled Gasoducto Sur Peruano (GSP) project.

Former Panda CFO to Marathon Capital

PFI Issue 606 - July 26, 2017

Marathon Capital has hired former Panda Power Funds chief financial officer (CFO) Robert Simmons as a senior managing director.

Govt to form energy policy panel

PFI Issue 606 - July 26, 2017

The Indian government is forming a committee headed by Prime Minister Narendra Modi to oversee implementation of the proposed National Energy Policy (NEP), which aims to promote energy independence.

Panda eyes September debt launch

PFI Issue 606 - July 26, 2017

Panda Power Funds is looking to make decisions about lead arrangers and launch the debt package by September backing the Mattawoman natural gas-fired, combined-cycle facility in Prince George’s County, Maryland.

LNG-to-power project gets boost

PFI Issue 606 - July 26, 2017

The mega 1.24GW Novo Tempo gas-to-power project is progressing as it lines up the appropriate permits, with a deadline to secure financing looming at the end of August.

Morupule coal mine expansion stalls

PFI Issue 606 - July 26, 2017

Expansion of Botswana’s Morupule coal mine, which will supply the country’s first independent power producers (IPP), has stalled due to a dispute with landowners.

Ophir trims costs ahead of Fortuna FLNG

PFI Issue 606 - July 26, 2017

Ophir Energy has announced plans to slash its global workforce by 15% and has lined up an additional US$350m in debt to prepare for start of production on its US$2bn Fortuna floating LNG project in 2020.

KKR to sell CCGTs

PFI Issue 606 - July 26, 2017

KKR is said to be looking to sell two combined-cycle gas turbine power plants in France it bought from Verbund three years ago.

EIB funds public interconnector section

PFI Issue 606 - July 26, 2017

The European Investment Bank (EIB) has signed a €130m loan to finance the public component of the Piedmont-Savoy power interconnector project between France and Italy.

Foresight issues smart bonds

PFI Issue 606 - July 26, 2017

Foresight has issued retail bonds to back its portfolio of 41,726 industrial and commercial smart meters.

CBM bidding extended

PFI Issue 606 - July 26, 2017

The bid deadline for Botswana’s coal bed methane (CBM) fuelled pilot power plants, up to 100MW, has been extended to August 23 from July 12 by Botswana’s Department of Mines in the Ministry of Mineral Resources, Green Technology and Energy Security.

Barryroe licence extended

PFI Issue 606 - July 26, 2017

Oil explorer Providence Resources has been granted a two-year extension to its Barryroe project, off the coast of Ireland.

EEW wins EfW

PFI Issue 606 - July 26, 2017

Itpok Gdansk has been appointed to design, build and operate a €100m energy-from-waste (EfW) incinerator in the Polish city of Gdansk. Germany-based and Chinese-owned EEW holds an 85% stake in the company, with the remaining 15% held by investment company LHI.

Solo Oil appoints adviser

PFI Issue 606 - July 26, 2017

Solo Oil has appointed IO oil and gas consulting, a Baker Hughes and McDermott joint venture, to advise on its Ntorya field, part of the Ruvuma acreage.

Senegal and Gambia agree cross-border PPA

PFI Issue 606 - July 26, 2017

The national utilities of Senegal and Gambia have initialled a concessional draft power purchase agreement (PPA) for the export of cross-border power.

Solvay plant lands energy efficiency funding

PFI Issue 606 - July 26, 2017

A consortium of Solvay and Marubeni has signed a non-recourse debt financing with MUFG of less than €50m to revamp power generation plants at Solvay’s industrial sites in Rosignano, Tuscany.

Apollo Global joins Loy Yang B auction

PFI Issue 606 - July 26, 2017

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

Medco Energi signs deal for Aceh Block A

PFI Issue 606 - July 26, 2017

Medco Energi has signed a financing agreement for the development of Block A Aceh with three international banks, whose names were not revealed. It added that the project is on track and on budget, and is now 48.9% complete with first gas on schedule for Q1 2018.

Java 1 developers in talks with FSRU operators

PFI Issue 606 - July 26, 2017

The sponsors of Jawa Satu Power, the project company for the development of the Java 1 2,000MW gas-fired power plant, are believed to be in advanced talks with the Indonesian operator of one of the two existing floating storage regasification units (FSRUs) in the country.

Oil majors asked to pay back US$3bn

PFI Issue 606 - July 26, 2017

Oil & Natural Gas Corp (ONGC) and a consortium comprising Reliance Industries (RIL) and Shell India have been ordered to pay the Indian government a combined US$3bn penalty following an arbitration award in an oil field dispute in favour of the government.

Cirebon sponsors request revised permit

PFI Issue 606 - July 26, 2017

The sponsors of Cirebon Energy Prasarana (CEP), Cirebon 2, have submitted a request to the environment office of the West Java provincial government for a revised environmental permit for the proposed 1,000MW coal-fired power plant.

First LNG project secures funds

PFI Issue 606 - July 26, 2017

Excelerate Energy and the International Finance Corp have secured funds to develop the Moheshkhali floating LNG project, the first LNG terminal for the country.

NTPC says Tata and Essar plants fit to be taken over

PFI Issue 606 - July 26, 2017

The imported coal-based power plants of Tata Power and Essar Power in Gujarat are fit to be taken over and can be operated without technical glitches, state-run NTPC said, according to its technical assessment of the plants.

Castle Peak refinances

PFI Issue 606 - July 26, 2017

Castle Peak Power, the owner of Hong Kong’s largest coal-fired power station, has issued US$500m of 10-year bonds at Treasuries plus 102.5bp. The coupon is 3.25%.

Zhejiang launches offshore loan

PFI Issue 606 - July 26, 2017

Zhejiang Energy International, a Hong Kong-incorporated unit of Zhejiang Provincial Energy Group, is making its debut in the offshore loan market with a US$300m three-year term loan. ANZ and Standard Chartered (Hong Kong) have won the mandate on the bullet loan, which pays an interest margin of 80bp over Libor.

K-Electric plans 900MW power plant

PFI Issue 606 - July 26, 2017

K-Electric will be developing the 900MW Qasim Power Station III that will be built at its Bin Qasim site. It is intended to significantly increase generation capacity and play a critical role in further supporting the energy needs of Karachi.

Project 4a rating due

PFI Issue 606 - July 26, 2017

Sponsors of Project 4a are expecting a sukuk rating to be assigned to Southern Power Generation (SPG), the joint venture company that will develop a 1,440MW (2x720MW) combined-cycle gas turbine project, next month.

AES Corp mulls Masinloc exit

PFI Issue 606 - July 26, 2017

AES Corp is considering the sale of its controlling stake in the 630MW Masinloc coal-fired power plant in the Philippines.

Six keen on the LNG hub

PFI Issue 606 - July 26, 2017

AgState-run Philippine National Oil Co (PNOC) has received six proposals for its proposed development of a liquefied natural gas (LNG) hub or terminal in the country.

Commitments in for Hickory Run

PFI Issue 606 - July 26, 2017

Sponsor Tyr Energy has received commitments to the debt package it is looking to secure backing the 1GW Hickory Run power project in Lawrence County, Pennsylvania.

Kenia LNG buyer sought

PFI Issue 606 - July 26, 2017

ConocoPhillips is preparing to fully shut down its Kenai liquefied natural gas export plant in Alaska as it continues to search for a buyer for the project.

Panda reorg plan set for vote

PFI Issue 606 - July 26, 2017

A bankruptcy judge has set a date of August 8 for a confirmation hearing on Panda Temple Power’s plan of reorganisation. Creditors had until July 21 to object and certain classes will be eligible to vote July 28.

NextDecade signs MoU with Port of Cork

PFI Issue 606 - July 26, 2017

NextDecade has signed a memorandum of understanding (MoU) with the Port of Cork Company to advance a joint business development opportunity in Ireland for a new floating storage and regasification unit that would receive LNG from NextDecade’s planned Rio Grande LNG project in South Texas.

Horizon nuclear seeks ideas

PFI Issue 606 - July 26, 2017

Hitachi’s Horizon Nuclear Power is seeking ideas from commercial banks on limited recourse funding for its £15bn 2,600MW Wylfa project.

OOC E&P PEF out

PFI Issue 606 - July 26, 2017

The US$1bn Oman Oil Company E&P pre-export finance loan is in the market via Natixis and Societe Generale.

Al Dur 2 date put back

PFI Issue 606 - July 26, 2017

The prequalification submission date for the Al Dur 2 independent water and power project (IWPP) has been put back from June 21 to early August by the procurer, Electricity & Water Authority (EWA).

Dynegy agrees three asset sales

PFI Issue 606 - July 26, 2017

Dynegy has reached agreements to sell three of its generating plants for approximately US$300m.

Okra acquires Cryogas

PFI Issue 606 - July 26, 2017

US-based Okra Energy has acquired Peruvian company Cryogas. The company specialises in the transportation and storage of liquefied natural gas (LNG), as well as the installation of satellite regasification plants.

Sempra lands liquids mandate

PFI Issue 606 - July 26, 2017

Sempra Energy has announced that its Mexican subsidiary Infraestructura Energética Nova (IEnova) has landed a 20-year contract from the Veracruz Port Administration to build and operate a receipt, storage and send-out liquid fuels marine terminal on the Mexican Gulf Coast.

AES bonds downgraded on PREPA woes

PFI Issue 606 - July 26, 2017

Moody’s has downgraded US$194m in project bonds backing the AES Puerto Rico coal-fired plant following the bankruptcy filing of the Puerto Rico Electric Power Authority (PREPA), which has a 25-year power purchase agreement (PPA) with the project that became effective in 2002. Moody’s downgraded the bonds to Caa1 from B3.

More O&G blocks won

PFI Issue 606 - July 26, 2017

Mexico auctioned 21 of 24 onshore oil and gas blocks on offer this week to investors from North America and Asia.

Details emerge on OSU energy financing

PFI Issue 606 - July 26, 2017

RBC, CIBC, MUFG and Santander acted as joint lead arrangers and co-managers of a US$850m private placement that backed the OSU energy management P3.

LS Power closes acquisition financing

PFI Issue 606 - July 26, 2017

LS Power has closed the US$415m acquisition financing to support its purchase of the 1,269MW Spruce Generation portfolio of peaking power projects from Dynegy.

YPF eyes power stake sale

PFI Issue 606 - July 26, 2017

National energy company YPF is looking to sell a 49% stake in its power generation subsidiary hot on the heels of closing the country’s first project financing in nearly two decades.

Terna lands transmission financing

PFI Issue 606 - July 26, 2017

Italy-based energy group Terna has landed a US$81m debt financing backing the Melo–Tacuarembo transmission line public-private partnership in the north-east of Uruguay.

Hoegh LNG funds FSRU 8

PFI Issue 606 - July 26, 2017

Höegh LNG has received commitment letters for a US$230m debt financing for FSRU#8. The floating storage and regasification unit (FSRU) vessel has yet to find a home and is currently under construction at HHI’s Ulsan shipyard in South Korea.

Japan backs Africa energy deal

PFI Issue 606 - July 26, 2017

The Government of Japan and the African Development Bank have signed a letter of intent to launch the Japan-Africa Energy Initiative (JAEI).

AfDB and IsDB team up

PFI Issue 606 - July 26, 2017

The African Development Bank (AfDB) and the Islamic Development (IsDB) have signed a landmark agreement to raise US$2bn to finance a range of projects over the next three years.

Trump to nominate Jones Day’s McIntyre to FERC

PFI Issue 606 - July 26, 2017

President Donald Trump plans to nominate the co-leader of Jones Day’s global energy practice Kevin McIntyre to two terms as a commissioner at the Federal Energy Regulatory Commission (FERC). If confirmed, he will be named chairman.

JP Morgan’s Dabbar to DOE post

PFI Issue 606 - July 26, 2017

President Donald Trump has nominated Paul Dabbar, an M&A managing director with JP Morgan Chase in New York City, to be the Department of Energy’s (DOE’s) undersecretary for science. He will succeed Franklin Orr, who left the post in January.

Savannah sets sights on Seven Energy

PFI Issue 606 - July 26, 2017

UK-based Savannah Petroleum has confirmed that it has entered into a binding exclusivity agreement to acquire Seven Energy’s oil and gas assets in West Africa.

Rio eyes bonds for wind deal

PFI Issue 606 - July 26, 2017

Denham Capital’s Brazilian renewable energy arm Rio Energy is looking to issue R$112m (US$34m) in infrastructure incentivised bonds to complete the financing of the 223.25MW Complexo Eólico Serra da Babilônia wind cluster in the north-eastern state of Bahia.

Equis bidders line up

PFI Issue 606 - July 26, 2017

Royal Dutch Shell and SoftBank are among several global groups considering bidding for Equis Energy, Asia’s largest independent renewable energy producer valued at up to US$5bn, Reuters said.

Greenko raises US$1bn of bonds

PFI Issue 606 - July 26, 2017

India’s leading renewable energy company Greenko Energy Holdings (GEH) has raised US$1bn in bonds that had an average price of 5.1%. The issue is split into 4.875% for the US$350m five-year and 5.25% for the US$650m seven-year maturities.

Scatec to fund 700MW of solar plants

PFI Issue 606 - July 26, 2017

Scatec Solar is seeking to reach financial close on at least four deals totalling almost 700MW in the next few months, the Norwegian renewables developer said in its latest earnings report.

Brookfield closes White Pine Green bond issue

PFI Issue 606 - July 26, 2017

Brookfield Renewable Partners sold its first Green bond issue, a US$475m project financing secured against its 380MW White Pine hydroelectric portfolio in Maine. The non-amortising bonds were priced at 205bp over the 15-year benchmark to yield 4.4% semi-annually.

Lighthouse buys second solar farm

PFI Issue 606 - July 26, 2017

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

SolarReserve lands solar approval

PFI Issue 606 - July 26, 2017

SolarReserve has landed environmental approval for the 390MW Likana solar thermal power project in the Antofagasta region. It marks the company’s third approval for a solar thermal project in the country.

Engie seeks renewables partner

PFI Issue 606 - July 26, 2017

French group Engie is looking to bring in an equity partner to help develop its renewable energy portfolio in Mexico.

SaskPower shortlists eight on wind

PFI Issue 606 - July 26, 2017

SaskPower has selected eight wind projects to move forward to the request for proposal (RFP) stage for a chance to develop up to 200MW of wind power in the Canadian province of Saskatchewan.

FAA policy change impacts wind

PFI Issue 606 - July 26, 2017

Policy changes under consideration by the Federal Aviation Administration (FAA) on its determinations of no hazard (DNHs) are likely to have “profound and potentially adverse repercussions” on wind development, according to policy analysis from the Husch Blackwell law firm.

Alterra closes Flat Top wind

PFI Issue 606 - July 26, 2017

Alterra Power has closed financing for the Flat Top wind project, a 200MW facility in central Texas. Affiliates of Citigroup, Santander and RBC led the deal, consisting of a US$217m loan plus letters of credit totalling US$71m. The facility is supported by a tax equity investor commitment.

Offshore wind threatened

PFI Issue 606 - July 26, 2017

Congressman Andy Harris, representing Maryland’s first congressional district, has attached an amendment to a Department of the Interior appropriations bill that threatens two proposed offshore wind projects in the state. The amendment prohibits the use of federal funds to conduct reviews of site assessments or construction and operation plans for wind turbines less than 24 nautical miles from the state’s shoreline.

Avangrid planning multiple submissions on Mass RFP

PFI Issue 606 - July 26, 2017

Avangrid Renewables plans to bid multiple transmission and/or renewables projects in the clean energy request for proposals (RFP) issued by Massachusetts Electric Distribution Companies and the Department of Energy Resources earlier this month.

Dominion to partner with Dong on Virginia offshore

PFI Issue 606 - July 26, 2017

Dominion Energy has agreed to partner with Dong Energy to revive an offshore Virginia wind project with an estimated cost of US$300m.

Tax equity signed for EDPR

PFI Issue 606 - July 26, 2017

Bank of New York Mellon has provided US$370m of tax equity on wind projects developed by Spain’s EDPR - the 100MW Meadow Lake V, the 99MW Redbed Plains, and the 98MW Quilt Block.

Sale-leaseback backs community solar portfolio

PFI Issue 606 - July 26, 2017

Key Equipment Finance has closed a sale-leaseback financing for 16 community solar projects across Massachusetts for Clean Energy Collective (CEC) and Engie.

NJ county partners on landfill solar

PFI Issue 606 - July 26, 2017

A firm founded by former Union Bank of California project financier Henry Park has partnered with Camden County, New Jersey to finance solar installations at its landfills.

EDF acquires First Solar Nevada projects

PFI Issue 606 - July 26, 2017

EDF Renewable Energy has acquired the 179MW Switch Station 1 and Switch Station 2 solar projects from First Solar.

Capital Dynamics pursuing financing for Mount Signal, Phase 3

PFI Issue 606 - July 26, 2017

Capital Dynamics is working to line up construction financing and tax equity this month for the 328MW Mount Signal 3 PV project in Imperial Valley, California.

Advisors identified in NRG asset sales

PFI Issue 606 - July 26, 2017

NRG has engaged Citi, Goldman Sachs and Morgan Stanley for separate asset sales processes that are well under way as part of its transformation plan. The three-part, three-year plan is designed to strengthen earnings and cost competitiveness, lower risk and volatility, and add shareholder value by selling assets, paying down debt and investing excess cash.

Terna funds Viotia wind farms

PFI Issue 606 - July 26, 2017

Greece’s Terna Energy has signed a €48m debt financing for three greenfield wind farms in Viotia, central Greece.

Martinique wind and storage financed

PFI Issue 606 - July 26, 2017

A consortium of NW Energy, EDF and Eren Group has financed a 14MW wind farm equipped with a power storage facility in the French overseas region of Martinique, in the Caribbean.

Altus refinances PVs

PFI Issue 606 - July 26, 2017

French solar IPP Altus Energy has refinanced a portfolio of 13.1MW of solar PV plants with €63m of debt.

Engie funds Somme wind

PFI Issue 606 - July 26, 2017

Engie’s subsidiary La Compagnie du Vent has closed a €14.7m debt financing with Crédit Industriel et Commercial (CIC) for its 10MW Barly wind farm in the Somme region.

EDF mega wind farm approved

PFI Issue 606 - July 26, 2017

EDF Energies Nouvelles and its partner WindVision have obtained approval to build an onshore wind farm of up to 350MW in the Ardennes department in eastern France.

Canadian firm buys OMV wind farm

PFI Issue 606 - July 26, 2017

Canada’s Transeastern Power has acquired the 45MW Dorobantu wind farm for €23m from oil and gas group OMV Petrom, as the troubled Romanian renewables sector shows signs of recovery.

AfDB backs solar PV

PFI Issue 606 - July 26, 2017

The African Development Bank (AfDB) will fund the country’s 32MW solar plant to be constructed in the capital N’Djamena, the electrical interconnection project between Chad and Cameroon, and the rehabilitation of the current National Electricity Company (SNE) plant.

Scatec 48MW solar approved

PFI Issue 606 - July 26, 2017

Developer Scatec Solar has secured approval from the board of state-owned utility Kenya Power & Lighting Company (KPLC) for its previously announced 48MW solar project.

PPAs signed for first wind auction

PFI Issue 606 - July 26, 2017

The five winning bidders for India’s first wind auction signed the power purchase agreements last week.

New low bid for solar

PFI Issue 606 - July 26, 2017

Solar Energy Corp of India (SECI) has received bids as low as Rs2.20 (US$0.034) per kWh in the recent auction for a 1,000MW grid-connected rooftop solar energy scheme for government buildings in different states.

Azure Power, Continuun go for bonds too

PFI Issue 606 - July 26, 2017

Renewable energy companies Azure Power Energy (APE) and Continuum Energy are looking to raise funds through US dollar bonds for their projects in India.

AC Energy partners with UPC Renewables

PFI Issue 606 - July 26, 2017

A unit of AC Energy Holdings (AC Energy) has partnered with UPC Renewables Asia Pacific Holdings and UPC Renewables on a power project in Indonesia.

Turkey's Zorlu to build 200MW solar parks

PFI Issue 606 - July 26, 2017

Turkish energy company Zorlu Enerji, through one of its units, has received pre-licences to build two 100MW solar parks in Pakistan.

Sachal wind in operation

PFI Issue 606 - July 26, 2017

The first wind power project in Jhimpir has been completed. Jhimpir, in the district of Thatata, is part of the Gharo-Jhimpir wind corridor and part of the huge China-Pakistan Economic Corridor.

Sapphire enters wind sector

PFI Issue 606 - July 26, 2017

Sapphire Textile Mills is another local firm that has entered the wind energy sector. It has set up Triconboston Consulting Ltd (TBCL) as the SPV that will develop, own and operate a 3x50MW wind farm as an independent power producer in Sindh, Pakistan.

Three new power plants get govt nod

PFI Issue 606 - July 26, 2017

Three proposed power plants have received approval from the Department of Energy to go ahead and conduct grid-impact studies.

Tata Power proposes new renewable energy plant

PFI Issue 606 - July 26, 2017

Tata Power of India is proposing to develop a renewable energy plant in Phu Yen province on the south central coast of Vietnam.

Aboitiz to acquire 100% stake in Sacasun

PFI Issue 606 - July 26, 2017

Aboitiz Power will be acquiring a 100% stake in the Sacasun solar power projects. Aboitiz and its partner SunE Solar, a subsidiary of US renewables company Sunedison, have signed a “compromise agreement” to allow the foreign partner to exit from their 59MW solar power plants in San Carlos, Negros Occidental.

TransCo in talks for FiT funds

PFI Issue 606 - July 26, 2017

The Philippine National Transmission Corp (TransCo) is in talks with the World Bank and Asian Infrastructure Investment Bank (AIIB) for an interest-free loan of up to Ps20bn (US$400m) to cover the Ps8bn backlog payments to renewable energy developers under the feed-in tariff (FiT) system.

Diamond wins Burbo OFTO

PFI Issue 606 - July 26, 2017

Diamond Transmission Partners (DCP) has won the £180.6m offshore transmission owner (OTFO) transmission link project to the Burbo Bank extension wind farm offshore Liverpool.

Invis sale due

PFI Issue 606 - July 26, 2017

The sale of the Invis Energy wind portfolio is due to be wrapped up shortly.

Elecnor funds subsidy-free wind repowering

PFI Issue 606 - July 26, 2017

Spanish infrastructure company Elecnor has financed the first repowering of an unsubsidised wind farm, raising a €11.95m seven-year loan from Bankia for a 16.5MW project near La Coruña, in north-western Spain.

Lightsource JVs with BlackRock

PFI Issue 606 - July 26, 2017

Lightsource has sold 156MW of solar assets into a new vehicle, Kingfisher, owned by itself and BlackRock, in a deal worth around £200m. RBS is providing portfolio leverage to back the deal and future acquisitions.

IFC to invest US$6bn in Indian renewables

PFI Issue 606 - July 26, 2017

The International Finance Corporation (IFC) plans to invest up to US$6bn over the next five years in various sustainable and renewable energy programmes in India, and 20% will go into building eco-friendly or green homes in the country, said Jun Zhang, country head of IFC India.

AES Gener wins in court

PFI Issue 606 - July 26, 2017

AES Corp subsidiary AES Gener has won a court ruling linked to delays and budget increases on the now US$2.5bn Alto Maipo hydro project.

Outlook cautiously optimistic, Fitch

PFI Issue 606 - July 26, 2017

A new Fitch Ratings report is cautiously optimistic for Latin America infrastructure, with overall credit quality expected to remain stable despite some divergence in performance.

Engie unit sees solar boost

PFI Issue 606 - July 26, 2017

Engie unit Solairedirect has seen four solar projects it is developing in Brazil allowed to enter the national incentive regime for infrastructure development (REIDI) by the Ministry of Mines and Energy.

Protests halt dam work

PFI Issue 606 - July 26, 2017

Construction has stopped on a 700MW hydro project owned by Portugal’s EDP Energias do Brasil, China Three Gorges Corp, and Furnas, which is controlled by Brazil’s Eletrobras.

Acciona signs corporate PPA

PFI Issue 606 - July 26, 2017

Acciona has signed an alliance with Latin America’s largest retail store chain SACI Falabella to supply over 100 of its stores with renewable energy in the coming years.

Chinese group leads chase for Chaglla

PFI Issue 606 - July 26, 2017

China Three Gorges (CTG) is said to be the lead bidder for Odebrecht’s stake in the Chaglla hydro project.

Aquila to expand Midtfjellet wind farm

PFI Issue 606 - July 26, 2017

German investor Aquila Capital has launched the 40MW expansion of its Midtfjellet onshore wind farm in Norway.

NordLB funds wind repowering

PFI Issue 606 - July 26, 2017

NordLB has closed a €31m deal to refinance and repower a German wind farm owned by NIBC European Infrastructure Fund.

Global Tech picks adviser for refinancing

PFI Issue 606 - July 26, 2017

The sponsors of the 400MW Global Tech I offshore wind farm in the German North Sea have selected Green Giraffe as financial adviser for the refinancing of the project’s €1bn debt.

Ardian refinances Sicily wind

PFI Issue 606 - July 26, 2017

Ardian has refinanced its 22.55MW Mimiani wind farm in Caltanissetta and Marianopoli, Sicily with a €31.4m 9.5-year loan by UniCredit and Banca Popolare dell’Emilia Romagna.

FiT feeds solar boom

PFI Issue 606 - July 26, 2017

China has experienced a mini-boom in solar project developments as developers have rushed to implement projects ahead of feed-in tariff changes that came into force in July. During the first six months of the year about 24.4GW was installed, with 13.5GW installed in June alone.

AMP Solar Group secures solar PF

PFI Issue 606 - July 26, 2017

Shinsei Bank has arranged a US$10m project financing for AMP Solar Group Japan to acquire a 14.7MW large-scale solar power plant already operating in Fukushima City, Fukushima Prefecture.

NextEra buys big wind

PFI Issue 606 - July 26, 2017

NextEra Energy Resources has bought the development rights on the 500MW Wheatridge wind project in Oregon from Swaggart Wind Power.

Chinese investor buys into Building Energy

PFI Issue 606 - July 26, 2017

Chinese asset management group Zhongzhi Group has agreed to buy a stake in Italian renewable power operator Building Energy for €70m, although the acquisition is expected to take place over the next years.

Cubico replaces CEO

PFI Issue 606 - July 26, 2017

UK-based renewable power investor Cubico Sustainable Investments has appointed Stephen Riley as its new chief executive officer, replacing Marco Sebares, who has left the company.

DIF’s second infra fund price out

PFI Issue 606 - July 26, 2017

Dutch pension fund ABP has said it paid more than €700m to buy DIF’s second infrastructure fund, one of two major infra funds it is taking over.

CIP renewable fund to third close

PFI Issue 606 - July 26, 2017

Danish investor Copenhagen Infrastructure Partners (CIP) has reached a third close for its new renewable power fund CIP III, raising €1.9bn.

EIB and Santander partner for renewables

PFI Issue 606 - July 26, 2017

The European Investment Bank (EIB) and Santander have signed a risk-sharing agreement to help the Spanish bank finance new renewable projects.

ERG issues first bonds

PFI Issue 606 - July 26, 2017

Italian power company ERG has issued its first bonds, placing €100m of debt with institutional investors to refinance its hydropower plants and fund new renewables investments.

Hydro concession seeks investors

PFI Issue 606 - July 26, 2017

Investors are being sought for a 30MW hydropower concession, Gurara phase one, in Kaduna State.

Bord na Mona in renewables push

PFI Issue 606 - July 26, 2017

Irish semi-state utility Bord na Mona will invest €1.2bn to expand its renewable energy portfolio until 2030, it announced in its investment programme last week.

Bugoye hydro refi signed

PFI Issue 606 - July 26, 2017

Loan agreements have been signed to refinance the operational 13MW Bugoye hydropower plant in Western Uganda.

EPC signed for geothermal

PFI Issue 606 - July 26, 2017

Developer Limgaz Elektrik has signed an engineering, procurement and construction contract with Turkish firm Egesim & Atlas Copco for its 13.4MW geothermal power project in Aydin-Buharkent in the west of the country. It is expected that the plant will be completed within 14 months and come online by October next year.

Lake Turkana sponsor remains positive

PFI Issue 606 - July 26, 2017

The sponsor of Africa’s largest wind farm, Lake Turkana Wind Power (LTWP), said it has received positive signs from the Kenyan government that it will be compensated for late connection to the grid.

Hindustan Power to enter Bangladesh solar

PFI Issue 606 - July 26, 2017

Hindustan Power of India wants to develop 100MW of solar projects in Bangladesh and is expecting to finalise the feed-in tariff by the end of August.

Govt agrees higher tariff for hydros

PFI Issue 606 - July 26, 2017

Indonesia’s Ministry of Energy & Mineral Resources has issued Regulation No 43/2017, which amends the tariff ceilings applicable to hydro power projects.

Tata Power to invest in 320MW solar

PFI Issue 606 - July 26, 2017

Tata Power Renewable Energy (TPREL), a unit of Tata Power, will develop 320MW of solar power assets and the parent company plans to inject some Rs6bn (US$90m) of equity into the schemes.

Mytrah to add 1,000MW capacity

PFI Issue 606 - July 26, 2017

Mytrah Energy is planning to add 1,000MW of capacity of wind and solar energy in the next year, CEO Vikram Kailas told local media.

Renew keen on Orange assets

PFI Issue 606 - July 26, 2017

Goldman Sachs-backed Renew Power Ventures is said to have made a non-binding offer to Orange Renewable to acquire its portfolio of more than 650MW.

SEI Enerstar raises loan

PFI Issue 606 - July 26, 2017

SEI Enerstar Renewable Energy has secured a Rs2.58bn (US$44m) loan to finance the development of a 50MW solar power plant.

Wirsol plans new solar farms

PFI Issue 606 - July 26, 2017

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

Genex in line for NAIF loan

PFI Issue 606 - July 26, 2017

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

Neoen secures solar PPA

PFI Issue 606 - July 26, 2017

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

CEFC investments spur clean energy projects

PFI Issue 606 - July 26, 2017

Investment commitments, mostly project finance debt, by the Clean Energy Finance Corporation (CEFC) have contributed to A$11bn (US$8.7bn) in clean energy projects in Australia in the agency’s first four years.

Bay State offshore awarded first BOEM approval

PFI Issue 606 - July 26, 2017

The Bureau of Ocean Energy Management (BOEM) has issued its first approval of an offshore wind site assessment plan (SAP) to Bay State Wind, a utility-scale offshore wind project off Massachusetts.

DOE clean energy loan programme in jeopardy

PFI Issue 606 - July 26, 2017

The Department of Energy’s Loan Programs Office (LPO) is in danger of being eliminated by the Trump administration in its proposed budget.

DIF acquires TerraForm unit

PFI Issue 606 - July 26, 2017

Funds managed by DIF have completed the acquisition of TerraForm AP Acquisition Holdings, which holds a US$243m project loan.

Mega Russian wind fund planned

PFI Issue 606 - July 26, 2017

The Russian Association of the Wind Power Industry (RAWI) and Russian Investment Agency Invest in Russia have signed an agreement to create a Rbs100bn (US$1.67bn) wind energy fund.

Chile and Peru sign energy agreement

PFI Issue 606 - July 26, 2017

The governments of Chile and Peru have agreed to foster technical cooperation and exchange of knowledge in the mining and energy sectors.

Agribusiness company enters renewables

PFI Issue 606 - July 26, 2017

Argentine agribusiness-focused Ledesma Group is teaming up with Eternum Energy to create Ledesma Renovables.

EDF completes Futuren public offering

PFI Issue 606 - July 26, 2017

EDF Energies Nouvelles has concluded a public tender offer for Futuren’s shares in the market, taking over 87.5% of the renewables company’s shares and 62.7% of the convertible bonds.

Greencoat Renewables raises €270m

PFI Issue 606 - July 26, 2017

Greencoat Renewables, the first renewable energy infrastructure company to list on the Irish Stock Exchange, has announced a larger than expected initial share offering of €270m.

Scottish schemes finally win

PFI Issue 606 - July 26, 2017

The three Scottish offshore wind farm schemes that had been the subject of a court case by the Royal Society for the Protection of Birds (RSPB) have finally been given the all-clear. The RSPB appeal against a court ruling in favour of the projects has been rejected.

Floater company sinks

PFI Issue 606 - July 26, 2017

Dounreay Tri Ltd, which is developing the 10MW floating offshore wind project off northern Scotland, has gone into administration.

Sharjah WtE seeks debt

PFI Issue 606 - July 26, 2017

Masdar and local company Bee’ah are seeking US$150m of debt for their 328,000 tonnes-per-year, 30MW waste-to-energy scheme in Sharjah.

Wind RFQ out

PFI Issue 606 - July 26, 2017

The Ministry of Energy, Industry & Mineral Resources (MEIMR) has sent out a request for qualification (RFQ) for its 400MW Dumat al-Jandal wind scheme.

Hive goes for merchant solar

PFI Issue 606 - July 26, 2017

Solar PV developer Hive Energy has been granted planning permission for its 40MW solar PV project next to its headquarters in Romsey, Hampshire.

Biomass refi nears

PFI Issue 606 - July 26, 2017

The refinancing of the operating Snetterton and Brigg straw-fired schemes, producing 44MW each, is nearing financial close. Covanta is said to be looking to buy the plants from Danish contractor BWSC.

Octopus buys Blue wind

PFI Issue 606 - July 26, 2017

Octopus Investments has bought a 149MW portfolio of four wind schemes from Blue Energy - Beinneun (109MW), Cour (21MW), Grange (12.3MW),and Hillhead of Auquhirie (6.9MW).

More merchant wind

PFI Issue 606 - July 26, 2017

More large-scale onshore wind development projects in Scotland have emerged that will require funding without renewable energy subsidies.

Foresight buys more batteries

PFI Issue 606 - July 26, 2017

Foresight has bought a 10MW battery storage project at Nevendon from Gridserve and Aura Power, adding to the 35MW Port of Tyne scheme it bought from RES recently.

BlackRock ups UK power fund

PFI Issue 606 - July 26, 2017

BlackRock has secured a further £475m of investment in its Renewable Income UK (RIUK) fund. The fund now has more than £1.1bn in total commitments.

InfraRed joins renewables push

PFI Issue 606 - July 26, 2017

Investment manager InfraRed Capital Partners has completed an investment in two greenfield solar PV projects in Northern Mexico.

Vinci team wins Kobe airport

PFI Issue 606 - July 26, 2017

A consortium of Vinci Airports, Orix Corporation and Kansai Airports has been selected as preferred bidder for the Kobe airport in Japan.

Melbourne gets its mega metro finance

PFI Issue 606 - July 26, 2017

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

Pedemontana bond due out

PFI Issue 606 - July 26, 2017

Spain’s Sacyr and Italy’s Fininc have launched a roadshow for the project bond financing of their €2.5bn Pedemontana Veneta motorway in northern Italy after mandating banks to lead the deal.

Rwanda airport concession signed

PFI Issue 606 - July 26, 2017

The Rwandan government has signed a concession agreement with Portugal’s Mota-Engil for the construction and operation of the US$800m Bugesera International Airport.

Advisers in for first road PPP

PFI Issue 606 - July 26, 2017

The three shortlisted bidders for Kenya’s first road PPP, the US$550m Nairobi–Nakuru–Mau Summit Highway (A8), have begun appointing financial advisers.

Upgrade set for rail concession

PFI Issue 606 - July 26, 2017

Group Bollore’s Sitarail concession, which links Abidjan, Ivory Coast with Burkina Faso, is set for a €200m upgrade.

Two vie for Empark

PFI Issue 606 - July 26, 2017

Saba Aparcamientos and Macquarie are competing to buy Spanish car park operator Empark and have submitted final offers that are expected to value the company between €900m and €1.2bn, according to sources close to the deal.

Rajoy announces mega road PPP pipeline

PFI Issue 606 - July 26, 2017

The Spanish government will soon launch a €5bn pipeline of road PPP projects, moving away from austerity to embrace economic stimulus through private investment, Spain’s Prime Minister Mariano Rajoy has announced.

EDF Invest buys Q-Park stake

PFI Issue 606 - July 26, 2017

France’s EDF Invest has agreed to buy a minority stake in Dutch car park operator Q-Park from private equity firm KKR, which is taking over the business from a consortium of Dutch pension funds. According to French news agency AFP, EDF Invest will hold a 10% stake.

Scandlines closes refinancing

PFI Issue 606 - July 26, 2017

Danish ferry operator Scandlines, owned by infrastructure investor 3i, has closed a €862m debt refinancing with banks and institutional investors.

EIB provides US$500m to Bangalore Metro

PFI Issue 606 - July 26, 2017

The European Investment Bank (EIB) is providing a US$500m loan to help finance the development of Phase 2 of the Bangalore Metro project.

Two eye stake in Hyderabad airport

PFI Issue 606 - July 26, 2017

GMR Infrastructure is selling 49% of its stake in the Hyderabad International Airport and is said to be in talks with two potential buyers.

Goa Airport secures funds

PFI Issue 606 - July 26, 2017

GMR Goa International Airports Limited (GGIAL), a subsidiary of GMR Airports, has signed a Rs13.3bn (US$206m) loan facility that will finance the development of the first phase of its greenfield project.

Northern beaches toll planning under way

PFI Issue 606 - July 26, 2017

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

NAIF considers lending to toll road

PFI Issue 606 - July 26, 2017

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

KDB to invest in airport

PFI Issue 606 - July 26, 2017

The Korea Development Bank (KDB) will invest about US$130m in the Haikou International Airport Expansion Project in Hainan Province, China, one of China’s “One Belt, One Road” projects.

Megawide goes into rail sector

PFI Issue 606 - July 26, 2017

Megawide Construction Corp is venturing into the rail sector with the acquisition of a stake in a consortium that plans to develop an elevated 9.77km line between Diliman in Quezon City and Lerma in the City of Manila.

New Bulacan airport proposal submitted

PFI Issue 606 - July 26, 2017

San Miguel Corp (SMC) has submitted an unsolicited proposal for a new international airport to be located in Bulacan.

MPIC to propose new Cavitex expressway

PFI Issue 606 - July 26, 2017

Metro Pacific Investments Corp (MPIC) is planning to propose an unsolicited Ps20bn (US$400m) elevated expressway project that will connect the Manila-Cavite Toll Expressway (Cavitex) to the Port Area in Manila.

Megawide/GMR interested in Clark Airport

PFI Issue 606 - July 26, 2017

A consortium comprising the listed Megawide Construction Corp and Bangalore-based airport operator GMR Infrastructure has indicated interest in participating in the Ps12.55bn (US$248m) expansion of Clark Airport.

Legions join Buda

PFI Issue 606 - July 26, 2017

The Budapest Airport refinancing has been signed. The deal involves a new €800m five-year bank piece and a 10-year €400m private placement tranche.

HS1 gets Goldman leverage

PFI Issue 606 - July 26, 2017

The InfraRed/Equitix team has won the bid for the HS1 high speed rail network, beating Dalmore/Amber with a bid believed to be around £3.3bn backed by £500m of leverage underwritten by Goldman Sachs.

Condor Ferries goes for a refi

PFI Issue 606 - July 26, 2017

Macquarie is due to refinance the £100m loan on its Condor Ferries cross-channel asset bought in June 2008. The asset was sold by RBS, which was seeking £300m at the time, having bought it from ABN AMRO Capital in 2004 for £240m.

NCP sold

PFI Issue 606 - July 26, 2017

Japanese car park operator Park24 is buying National Car Parks (NCP) jointly with the Development Bank of Japan (DBJ) from Macquarie’s MEIF 2 fund.

PF2 pipeline - Big and small

PFI Issue 606 - July 26, 2017

The PF2 project pipeline has been limited to the two Department for Transport Highways England mega deals - the £1.4bn A303 Stonehenge bypass and the connecting roads on the £5bn-plus Lower Thames Crossing (LTC) tunnel scheme.

TTT gets US PP

PFI Issue 606 - July 26, 2017

Thames Tideway Tunnel has issued £300m of 15-year notes via the US private placement market priced at between 100bp and 125bp. The issue was led by MUFG.

Mid-Term Capital Review this month

PFI Issue 606 - July 26, 2017

The Irish government has increased capital spending by €500m a year for 2019 and 2020, and will publish its Mid-Term Capital Review later this month to inform investment decisions in the October Budget 2018, it announced in its Summer Economic Statement.

Uganda seeks adviser for road PPPs

PFI Issue 606 - July 26, 2017

The Uganda National Roads Authority (UNRA) is to establish a PPP unit to assist with the development of the US$1.1bn Kampala to Jinja Expressway and other road PPPs in the country.

Ethiopia plans road PPPs

PFI Issue 606 - July 26, 2017

Ethiopia will offer road projects to private investors through PPP arrangements, Finance Minister Abraham Tekeste has told Reuters.

Dakar BRT financing under discussion

PFI Issue 606 - July 26, 2017

Financing negotiations are taking place over the summer for the private sector contribution to the US$426m Dakar Bus Rapid Transit (BRT) pilot PPP.

Winner for Blankenburg tunnel

PFI Issue 606 - July 26, 2017

Dutch road authority RWS has awarded the Blankenburg tunnel PPP to a consortium led by Macquarie and including Ballast Nedam and DEME, advised by Macquarie itself.

A9 procurement towards year-end

PFI Issue 606 - July 26, 2017

The tender of the A9 Badhoevedorp–Holendrecht motorway PPP near Amsterdam will start between December 2017 and March 2018, grantor RWS said.

Globalvia ups Scutvias stake

PFI Issue 606 - July 26, 2017

Infrastructure investor Globalvia has bought another 22.22% stake in Portugal’s Beira Interior Scutvias motorway from construction group Alves Ribeiro.

EIB considers A16 funding

PFI Issue 606 - July 26, 2017

The European Investment Bank (EIB) has said it is looking to finance the €1bn A16 motorway PPP in Rotterdam, although it did not disclose how much it is prepared to lend.

Three in line for giant dam PPP

PFI Issue 606 - July 26, 2017

Three consortia are said to be in talks with water authority Rijkswaterstaat in the tender for the Afsluitdijk dam refurbishment PPP.

PBB finances Cantal road PPP

PFI Issue 606 - July 26, 2017

NGE has signed a PPP contract to build the €29m Saint-Flour north bypass in the department of Cantal and raised debt financing from PBB Deutsche Pfandbriefbank.

First motorway PPP refinanced

PFI Issue 606 - July 26, 2017

The project finance facility for Poland’s first motorway PPP, the 149km A2 between Konin and Nowy Tomysl, has been refinanced using a four-year structure.

DIF’s second infra fund price out

PFI Issue 606 - July 26, 2017

Dutch pension fund ABP has said it paid more than €700m to buy DIF’s second infrastructure fund, one of two major infra funds it is taking over.

Three shortlisted on Trillium rail extension

PFI Issue 606 - July 26, 2017

The City of Ottawa in Ontario has shortlisted three teams to design, build, finance and maintain the C$535m Trillium line extension project, part of the city’s C$3bn Stage 2 light rail transit initiative.

ICA lands highway PPP

PFI Issue 606 - July 26, 2017

Mexican construction company ICA has won a contract for Ps4.38bn (US$250m) to operate and maintain the Texcoco to Zacatepec highway public-private partnership.

Sacyr lands maiden concession

PFI Issue 606 - July 26, 2017

Spanish group Sacyr through Sacyr Concesiones has landed its first concession in Mexico with the winning of the rehabilitation, maintenance, and conservation of a 91.5km roadway public-private partnership.

Airport tender almost ready

PFI Issue 606 - July 26, 2017

Mott MacDonald has delivered its masterplan for the US$3.5bn greenfield Metropolitan International Airport in the Alajuela canton of Orotina, around 60km from the capital and largest city San Jose.

Five teams shortlisted on East Corridor

PFI Issue 606 - July 26, 2017

Five teams have been selected to compete to build and finance the Lakeshore East - East Corridor expansion project in Ontario.

Two teams shortlisted on Union Station

PFI Issue 606 - July 26, 2017

Infrastructure Ontario (IO) and Metrolinx have shortlisted two teams to design, build and finance the Union Station enhancement project.

Pennsylvania pursues transit P3

PFI Issue 606 - July 26, 2017

Pennsylvania’s public-private partnership (P3) board has approved a project to pursue transit-oriented development (TOD) at one or more train stations along Amtrak’s Keystone Corridor between Harrisburg and Philadelphia.

IFA takeover included in Indiana project plans

PFI Issue 606 - July 26, 2017

Indiana Governor Eric Holcomb has unveiled a list of projects that will be launched under the state’s new US$4.7bn infrastructure funding programme.

Fitch sees continuing challenges for US P3

PFI Issue 606 - July 26, 2017

A new report from Fitch Ratings says it expects public-private partnership (PPP) financing models with a modest pipeline over the medium term for the US.

Outlook cautiously optimistic, Fitch

PFI Issue 606 - July 26, 2017

A new Fitch Ratings report is cautiously optimistic for Latin America infrastructure, with overall credit quality expected to remain stable despite some divergence in performance.

LA People Mover RFP released

PFI Issue 606 - July 26, 2017

The Los Angeles Board of Airport Commissioners (BOAC) has authorised Los Angeles World Airports (LAWA) to issue a request for proposals (RFP) for the Automated People Mover (APM) train at Los Angeles International Airport.

Pennsylvania pursues transit P3

PFI Issue 606 - July 26, 2017

Pennsylvania’s public-private partnership (P3) board has approved a project to pursue transit-oriented development (TOD) at one or more train stations along Amtrak’s Keystone Corridor between Harrisburg and Philadelphia.

Port Authority seeks designers for US$10bn JFK

PFI Issue 606 - July 26, 2017

The Port Authority of New York and New Jersey is seeking proposals from private firms for preliminary engineering and design work on a US$10bn renovation of John F Kennedy International Airport.

Chinese group acquires airport stake

PFI Issue 606 - July 26, 2017

Chinese group HNA Infrastructure has signed an agreement to buy a 60% stake in Rio de Janeiro Aeroportos (RJA), the controlling shareholder in Rio de Janeiro’s Tom Jobim International Airport (Galeão).

Cartagena airport gets green light

PFI Issue 606 - July 26, 2017

The government of Colombia has given the green light to a new airport in the city of Cartagena in the Bayunca district.

Governmental boost for mega infra works

PFI Issue 606 - July 26, 2017

President Pedro Pablo Kuczynski has said his government has resolved bureaucratic issues that had delayed construction of the US$5.66bn Metro Line 2 in the capital Lima and a US$1.5bn expansion of the country’s main airport.

IFC and Santander back transport project

PFI Issue 606 - July 26, 2017

The International Finance Corporation (IFC) and Banco Santander have provided a US$150m loan package backing transport infrastructure in the province of Cordoba.

Purple Line construction back on

PFI Issue 606 - July 26, 2017

A federal appeals court has reinstated the Purple Line’s environmental approval, allowing construction to resume on the light rail transit project in Maryland after many months of delays. The ruling will permit the project to again pursue federal funding.

Washington’s Sound Transit names P3 advisers

PFI Issue 606 - July 26, 2017

The state of Washington’s regional transit agency, Sound Transit, has appointed KPMG, Ernst & Young and Hatch to provide on-call advisory services as it develops a pipeline of public-private partnerships.

Kansas Airport bidding teams revealed

PFI Issue 606 - July 26, 2017

Aecom has assembled its team of partners to compete to design, build and finance a new terminal at Kansas City International Airport. The team will include Oaktree Capital Management and Aecom Capital for financing, Aecom Hunt and Turner Construction as contractors, and Fentress Architects, which has a portfolio that includes Denver International Airport, Incheon airport in Seoul, South Korea, and the Los Angeles airport.

Globalvia considers WestConnex bid

25 July 2017

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

Advisories won on mega O&G deals

PFI Issue 606 - July 26, 2017

Nigerian National Petroleum Corporation (NNPC) is expected shortly to award three mega financial advisory mandates to teams made up of international and local firms. Two of the deals, backed by oil and LNG receivables, should lead to large debt financings fairly quickly to fund new capital expenditure.

GSP tender back on

PFI Issue 606 - July 26, 2017

The Peruvian Government is looking to launch an international tender next year for a company or consortium to take over the stalled Gasoducto Sur Peruano (GSP) project.

Cooper seeks Sole finance

PFI Issue 606 - July 26, 2017

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

Medco Energi signs deal for Aceh Block A

PFI Issue 606 - July 26, 2017

Medco Energi has signed a financing agreement for the development of Block A Aceh with three international banks, whose names were not revealed. It added that the project is on track and on budget, and is now 48.9% complete with first gas on schedule for Q1 2018.

Oil majors asked to pay back US$3bn

PFI Issue 606 - July 26, 2017

Oil & Natural Gas Corp (ONGC) and a consortium comprising Reliance Industries (RIL) and Shell India have been ordered to pay the Indian government a combined US$3bn penalty following an arbitration award in an oil field dispute in favour of the government.

OOC E&P PEF out

PFI Issue 606 - July 26, 2017

The US$1bn Oman Oil Company E&P pre-export finance loan is in the market via Natixis and Societe Generale.

Savannah sets sights on Seven Energy

PFI Issue 606 - July 26, 2017

UK-based Savannah Petroleum has confirmed that it has entered into a binding exclusivity agreement to acquire Seven Energy’s oil and gas assets in West Africa.

Okra acquires Cryogas

PFI Issue 606 - July 26, 2017

US-based Okra Energy has acquired Peruvian company Cryogas. The company specialises in the transportation and storage of liquefied natural gas (LNG), as well as the installation of satellite regasification plants.

Sempra lands liquids mandate

PFI Issue 606 - July 26, 2017

Sempra Energy has announced that its Mexican subsidiary Infraestructura Energética Nova (IEnova) has landed a 20-year contract from the Veracruz Port Administration to build and operate a receipt, storage and send-out liquid fuels marine terminal on the Mexican Gulf Coast.

More O&G blocks won

PFI Issue 606 - July 26, 2017

Mexico auctioned 21 of 24 onshore oil and gas blocks on offer this week to investors from North America and Asia.

Barryroe licence extended

PFI Issue 606 - July 26, 2017

Oil explorer Providence Resources has been granted a two-year extension to its Barryroe project, off the coast of Ireland.

Solo Oil appoints adviser

PFI Issue 606 - July 26, 2017

Solo Oil has appointed IO oil and gas consulting, a Baker Hughes and McDermott joint venture, to advise on its Ntorya field, part of the Ruvuma acreage.

First LNG project secures funds

PFI Issue 606 - July 26, 2017

Excelerate Energy and the International Finance Corp have secured funds to develop the Moheshkhali floating LNG project, the first LNG terminal for the country.

Hoegh LNG funds FSRU 8

PFI Issue 606 - July 26, 2017

Höegh LNG has received commitment letters for a US$230m debt financing for FSRU#8. The floating storage and regasification unit (FSRU) vessel has yet to find a home and is currently under construction at HHI’s Ulsan shipyard in South Korea.

Kenia LNG buyer sought

PFI Issue 606 - July 26, 2017

ConocoPhillips is preparing to fully shut down its Kenai liquefied natural gas export plant in Alaska as it continues to search for a buyer for the project.

NextDecade signs MoU with Port of Cork

PFI Issue 606 - July 26, 2017

NextDecade has signed a memorandum of understanding (MoU) with the Port of Cork Company to advance a joint business development opportunity in Ireland for a new floating storage and regasification unit that would receive LNG from NextDecade’s planned Rio Grande LNG project in South Texas.

Six keen on the LNG hub

PFI Issue 606 - July 26, 2017

AgState-run Philippine National Oil Co (PNOC) has received six proposals for its proposed development of a liquefied natural gas (LNG) hub or terminal in the country.

Ophir trims costs ahead of Fortuna FLNG

PFI Issue 606 - July 26, 2017

Ophir Energy has announced plans to slash its global workforce by 15% and has lined up an additional US$350m in debt to prepare for start of production on its US$2bn Fortuna floating LNG project in 2020.