sections

Wednesday, 19 February 2020

  • You are here:Home
  • Sectors

thermal power

Deflation looms

PFI Issue 666 - February 12, 2020

The fall in energy prices around the world in recent weeks has been dramatic. The fallout could be even more dramatic as thermal energy starts to become very cheap once again.

Delek to refi Leviathan deal

PFI Issue 666 - February 12, 2020

Delek Drilling is looking to refinance the US$1.75bn four-year construction loan from early 2017 on its 45% stake in the Leviathan gas field project. The company is looking to raise US$2.5bn in long-term finance from the bank or bond market, or both.

Adani Electricity issues bonds

PFI Issue 666 - February 12, 2020

Adani Electricity Mumbai (AEML) has issued US$1bn of offshore bonds to repay rupee debt. The issue was oversubscribed, with final orders exceeding US$5.9bn, according to IFR.

New date set for Malaya bidding

PFI Issue 666 - February 12, 2020

Power Sector Assets & Liabilities Management (PSALM) has published its latest invitation to bid for the 650MW Malaya thermal power plant in Rizal province.

Yinson Holdings seeks new loan

PFI Issue 666 - February 12, 2020

Yinson Holdings, a leading provider of floating, production, storage and offloading (FPSO) services, is seeking a US$100m three-year corporate term loan as its five-year US$100m is nearing financial close.

Facility E delayed again

PFI Issue 666 - February 12, 2020

The bid date on the Facility E independent water and power project (IWPP) has been put back again to April 2. It is possible a further extension will be needed but probably only in the month of April.

Bahrain FSU redeployed

PFI Issue 666 - February 12, 2020

The Bahrain Spirit floating storage unit (FSU), which serves the Bahrain LNG regas terminal project, is being redeployed on short-term trade now construction at the terminal has been completed.

Lancashire to offer waste contract

PFI Issue 666 - February 12, 2020

Lancashire County Council is to hold an open day on February 27 for bidders for its 300,000 tonnes per year waste contract. The contract will be interesting to a range of prospective waste to energy (WtE) developers in the north-west.

Capacity market clears at all-time low

PFI Issue 666 - February 12, 2020

The latest short-term T-3 capacity market auction has cleared at £6.44/kW/yr, below the previous auction two years ago that cleared at £8.40/kW/yr.

Gas pipe bids due

PFI Issue 666 - February 12, 2020

Bids are due in mid-February for a 49% equity stake in ADNOC’s gas pipelines. The deal could value the asset at US$15bn including debt, according to local reports.

Tamar squeeze

PFI Issue 666 - February 12, 2020

Investors in Israel believe the sales projections for the Tamar gas field are over-optimistic, according to reports last week in local newspaper Globes.

Blackrock into North Sea infra JV

PFI Issue 666 - February 12, 2020

Delek Group subsidiary Ithaca has signed a non-binding deal with an investment firm, believed to be BlackRock, to establish a new infrastructure company for its North Sea operations.

Marubeni confirmed on Tanajib

PFI Issue 666 - February 12, 2020

The Marubeni/Taqa team has been made preferred bidder on Aramco’s Tanajib cogeneration scheme, having submitted the lowest bid on the scheme by some margin in September.

ADM inks PF memorandum

PFI Issue 666 - February 12, 2020

Nigerian oil and gas group ADM Energy has signed a non-binding memorandum of understanding (MoU) with multinational commodities trader Trafigura to finance future projects.

Newhurst WtE financed

PFI Issue 666 - February 12, 2020

Biffa, Covanta and Green Investment Group (GIG) have reached financial close on their £290m 350,000 tonnes per year 42MW Newhurst waste-to-energy (WtE) project in Leicestershire near the M1.

ACWA to build gas plant

PFI Issue 666 - February 12, 2020

Saudi Arabia’s ACWA Power has agreed to build two combined-cycle gas turbine units combining for 1,250MW in Uzbekistan’s Syrdarya Region.

Wren House to refi NSMP

PFI Issue 666 - February 12, 2020

RBC is due to launch the refinancing of the £767m seven-year loan backing North Sea Midstream Partners (NSMP) next month.

ONGC Videsh picks refinancing lenders

PFI Issue 666 - February 12, 2020

Oil and gas company ONGC Videsh’s offshore unit has picked Bank of Baroda, DBS Bank, Korea Development Bank, First Abu Dhabi Bank, MUFG, State Bank of India, SMBC, Westpac and United Overseas Bank to refinance a US$1.775bn five-year facility completed in March 2016, IFR reported.

Govt pre-qualifies 12 for 2.46GW schemes

PFI Issue 666 - February 12, 2020

The Privatisation Commission of Pakistan has pre-qualified 12 companies to bid for 2.46GW of power plants, according to reports.

VPower partners with Chinese co

PFI Issue 666 - February 12, 2020

Hong Kong-listed VPower Group International Holdings is partnering with China National Technical Import & Export Corporation (CNTIC) on a 50:50 basis to form a joint venture company to develop and operate three power plants with a total capacity of 900MW.

ERC approves GNPK IPP transmission

PFI Issue 666 - February 12, 2020

The Energy Regulatory Commission (ERC) has given its approval to GNPower Kauswagan (GNPK) to set up a dedicated transmission facility that will connect its 552MW coal-fired power plant to the grid of the National Grid Corp of the Philippines (NGCP).

Total calls for end to LNG dispute

PFI Issue 666 - February 12, 2020

French company Total has called on the PNG government and ExxonMobil to return to the negotiating table to resolve their differences on profit sharing of the planned US$13bn LNG expansion.

Govt to fund new energy projects

PFI Issue 666 - February 12, 2020

The Federal government is set invest about A$2bn (US$1.34bn) in grants and soft loans to boost New South Wales gas production. The NSW government will also provide A$1bn in direct funding.

Banks win gas-to-power mandate

PFI Issue 666 - February 12, 2020

PetroVietnam Power has signed a deal to allow a consortium of Citibank and ING to arrange funds for its US$1.4bn project to expand a gas-fired power complex in southern Vietnam with two new units.

Petroamazonas taps Bermeo

PFI Issue 666 - February 12, 2020

Ecuadorean state-run energy company Petroamazonas has appointed Juan Carlos Bermeo as general manager. He replaces Lenin Pozo.

Former Cheniere exec to Mexico Pacific

PFI Issue 666 - February 12, 2020

LNG developer Mexico Pacific has appointed former Cheniere Energy executive Douglas Shanda as president and chief executive, effective immediately.

Petrobras hires banks for next sale

PFI Issue 666 - February 12, 2020

State-run energy company Petrobras has reportedly hired banks to run the sale of its stake in fuel distribution unit Petrobras Distribuidora.

KPMG’s Gupta to Sequoia

PFI Issue 666 - February 12, 2020

Sequoia Economic Infrastructure Income Fund has appointed Anurag Gupta as chief risk officer (CRO) at Sequoia Investment Management Company, its investment adviser. Gupta will be based in London.

Equinor and Shell buy onshore block

PFI Issue 666 - February 12, 2020

A partnership formed by Equinor and Shell has acquired a 49% interest held by Schlumberger in the Bandurria Sur onshore block in Neuquen province. Each of two 24.5% stakes cost US$177.5m.

ContourGlobal acquisition loan out

PFI Issue 666 - February 12, 2020

ContourGlobal via lead Scotiabank is looking to syndicate the US$535m acquisition financing that the Canadian lender provided recently backing the acquisition of Alpek’s gas-fired combined heat and power assets in Mexico.

Jordan Cove fight could head to court

PFI Issue 666 - February 12, 2020

Oregon state senator Jeff Golden expects a court battle if the Federal Energy Regulatory Commission (FERC) approves Pembina Pipeline’s Jordan Cove LNG export project by February 13 as expected, after the state denied key permits.

Cheniere dismisses suit against Tellurian

PFI Issue 666 - February 12, 2020

Cheniere Energy has dismissed all claims against Tellurian, its chairman Charif Souki, and vice-chairman Martin Houston in the district court of Harris County, Texas.

Tallgrass finalises terms on US$375m TLB add-on

PFI Issue 666 - February 12, 2020

Tallgrass Energy has launched a US$375m add-on to a US$1.1bn Term Loan B closed last year. The add-on was increased by US$75m after the deal started circling the market.

Elecnor plans transmission project

PFI Issue 666 - February 12, 2020

Spanish group Elecnor through special purpose vehicle Casablanca Transmisora de Energía is planning to develop a 220kV, 106.84km transmission line linking Melipilla and Viña del Mar. The project requires about US$50.5m.

Nuclear MoU due

PFI Issue 666 - February 12, 2020

State-run nuclear power company Eletronuclear and US-based Westinghouse have signed a memorandum of understanding (MoU) in Brazil, according to a statement from Brazil’s Ministry of Mines & Energy.

GyM shareholders ratify pipeline actions

PFI Issue 666 - February 12, 2020

Shareholders in Peruvian company Grana y Montero ratified the company’s actions on the failed Gasoducto Sur Peruano (GSP) pipeline project during an extraordinary shareholder meeting held this month.

Equinor mandates Modec for FPSO

PFI Issue 666 - February 12, 2020

Norway’s Equinor has tapped Modec to deliver a floating production storage and offloading (FPSO) unit in the Bacalhau area of the pre-salt Santos basin offshore Brazil. It will be built in China.

New LNG trucking scheme emerges

PFI Issue 666 - February 12, 2020

Edge LNG, a company backed by private equity firm Blue Water Energy and gas technology developer Galileo Global, is moving forward with a plan to set up an LNG operation that will truck gas from the Marcellus shale field in Pennsylvania.

Fortress-backed venture prepping data centre plan

PFI Issue 666 - February 12, 2020

Long Ridge Energy Terminal, a venture backed by Fortress Transportation and Infrastructure Investors, has proposed a project to develop a 125-acre data centre campus in conjunction with its 485MW combined-cycle power plant under construction in Hannibal, Ohio. The LR-1 data centre project will offer more than 300MW of capacity. A cost estimate has not yet been released.

Transmission

Illinois plots path to PJM exit

PFI Issue 666 - February 12, 2020

Capacity market chaos at the PJM Interconnection has prompted one state to prepare an exit. The departure of Illinois would have a huge impact on overall market dynamics. By Alison Healey.

Offshore wind

Japan's first OWP loan signed

PFI Issue 666 - February 12, 2020

It has been a long time coming but the first Japanese offshore deal has been signed. It is expected to lead to a host of new deals. By Minerva Lau.

Power Plant

UK power prices under pressure

PFI Issue 666 - February 12, 2020

UK power prices have fallen back sharply over the last year to decade lows. Just as importantly, medium to long-term power price forecasts have fallen back. By Rod Morrison.

Bidders invited for 50MW Sonagazi solar

PFI Issue 666 - February 12, 2020

Electricity Generation Company of Bangladesh has invited tenders for a 50MW solar plant at Sonagazi in the Feni district.

Wind dominates in renewables auction

PFI Issue 666 - February 12, 2020

Onshore wind took 495MW of a possible 500MW in Italy’s latest renewable energy auction, which saw prices fall as low as €48.65 per MWh.

Wind farm

Breaking new ground with YEKA

PFI Issue 666 - February 12, 2020

Turkey’s YEKDEM scheme encouraged localisation of equipment manufacturing by offering an increase in feed-in tariffs for renewable projects that utilise domestically manufactured equipment. The YEKA scheme goes one step further by mandating the use of domestically manufactured equipment in projects that are tendered under the YEKA Regulation. By Ayesha Waheed, partner in London at global law firm Morgan Lewis, and Cagdas Evrim Ergun, partner in Ankara at Ergun Law Offices.

First solar IPP financed

PFI Issue 666 - February 12, 2020

Gigawatt Global’s 7.5MW Mubuga solar farm, the first private solar IPP in Burundi, will begin construction imminently after securing all financial commitments.

PGE secures offshore permits

PFI Issue 666 - February 12, 2020

PGE Group has received environmental permits for its Baltica 2 and Baltica 3 offshore wind farms, for combined a capacity of 2.5GW. The energy firm can now begin work on the technical design of the projects.

Enlight to buy 100MW wind farm

PFI Issue 666 - February 12, 2020

Israel’s Enlight Renewable Energy has signed an agreement to acquire a 100MW development-stage wind farm in Qawqaz, Georgia.

Legal advisers set on biomass plant

PFI Issue 666 - February 12, 2020

The law firms advising stakeholders on the Meridiam, EDF and SIFCA-owned US$220m biomass plant in Ivory Coast have been identified.

RFP due for 350MW hydro

PFI Issue 666 - February 12, 2020

The government of Malawi will launch the request for proposals (RFP) this week for the 350MW Mpatamanga hydropower project, with firms now able to access bid documents.

Renewables auction date set

PFI Issue 666 - February 12, 2020

Greek energy watchdog RAE will hold a 500MW renewable energy auction on April 2, with initial applications due by February 25.

Total Quadran sells half of renewables portfolio

PFI Issue 666 - February 12, 2020

Total, through its Total Quadran renewable energy subsidiary, has signed an agreement to sell a 50% stake in a 143MW renewables portfolio to Caisse des Depots’ Banque des Territoires.

Hive and Noy team up for 420MW PV

PFI Issue 666 - February 12, 2020

UK-based Hive Energy and Noy Fund have announced a partnership to develop two neighbouring solar photovoltaic plants totalling 420MW in Castilla La Mancha, Spain.

Eneco awarded 100MW of wind

PFI Issue 666 - February 12, 2020

Dutch energy group Eneco has been awarded the 100MW Maasvlakte 2 wind project in the south of the Netherlands.

NTR refinances wind with Nord/LB

PFI Issue 666 - February 12, 2020

Irish infrastructure investor NTR has brought in German lender Nord/LB to refinance a trio of wind projects including the 69MW Tratteberget wind project in Sweden. NTR signed a power purchase agreement (PPA) with an unnamed European utility for 70% of Tratteberget’s power.

SEB backs Lundin’s US$260m renewables RCF

PFI Issue 666 - February 12, 2020

Swedish lender SEB has provided the debt for Lundin Petroleum’s US$260m revolving credit facility (RCF), priced at 125bp over Libor, to back the energy company’s entry into the renewables market.

NatWest finances Lightsource BP’s solar

PFI Issue 666 - February 12, 2020

NatWest Markets is providing a senior debt facility to finance Lightsource BP’s 250MW cluster of solar projects in north-eastern Spain. NatWest Markets is underwriting the entire financing.

Govt launches 200MW solar tender

PFI Issue 666 - February 12, 2020

Uzbekistan’s government, with Asian Development Bank (ADB) as the transaction adviser, has launched a tender for a 200MW solar farm, which will be developed as a PPP.

Cubico buys 50MW CSP from DWS

PFI Issue 666 - February 12, 2020

Canadian pension fund-backed Cubico Sustainable Investments has closed on the acquisition of the Arenales 50MW concentrated solar power (CSP) project in southern Spain from DWS.

Total signs agreements for 2GW of solar PV

PFI Issue 666 - February 12, 2020

Total has signed co-development agreements for almost 2GW of solar capacity with solar developer Powertis and Solarbay Renewable Energy. Total will also buy the projects’ power.

Stena to invest in 155MW onshore wind

PFI Issue 666 - February 12, 2020

Swedish wind power developer Stena Renewables will invest SKr1.7bn (€161m) in developing the 155MW Åby-Alebo wind project in southern Sweden.

Macquarie and KIA hire JPM for Viesgo sale

PFI Issue 666 - February 12, 2020

Macquarie and the Kuwait Investment Authority (KIA) have appointed JP Morgan to run the €3bn sale process for power business Viesgo, a report from local Confidencial said.

Otary seeking new PPA for Rentel offshore

PFI Issue 666 - February 12, 2020

Otary Group is seeking a new buyer of electricity from the 309MW Rentel wind project in the Belgian North Sea and has begun a tender process.

Cubico to acquire 21MW wind from Intracom

PFI Issue 666 - February 12, 2020

Cubico Sustainable Investments has signed a deal to acquire a 21MW operational wind project in Greece from Greek IT services, construction and electronic defence company Intracom Holdings. Cubico intends to expand the project’s capacity by a further 12MW.

Adelaide to go 100% renewable

PFI Issue 666 - February 12, 2020

Adelaide City Council will power all of its operations and council-owned facilities with 100% renewable energy via a power purchase deal with Flow Power that will kick off in July.

Shell Australia goes solar

PFI Issue 666 - February 12, 2020

Shell Australia, one of the country’s largest oil and gas producers, will build the 120MW Gangarri solar project in Queensland as part of the company’s plan to pursue new energies.

Adani Green Energy and Total agree to JV

PFI Issue 666 - February 12, 2020

Total Gas & Power Business Services SAS will pay US$510m to buy a 50% stake in an SPV alongside Adani Green Energy that will house the 2,148MW of renewable assets currently owned by the Adani Green Energy.

Culcairn Solar ready to go

PFI Issue 666 - February 12, 2020

Neoen Australia is expected to begin construction in the next few months on its 402MW Culcairn solar project with 100MW/200MWh of storage capacity.

Govt announces new power projects

PFI Issue 666 - February 12, 2020

The Australian government has offered a power panacea to its critics, who claim it lacks an energy policy, by announcing A$6m (US$4m) of funding for a pre-feasibility study on a 1.5GW hydro-electric plant and a feasibility study for 1GW coal plant.

Green bond issues set record

PFI Issue 666 - February 12, 2020

India has become the second-largest market globally for green bonds, with US$10.3bn worth of transactions in the first half of 2019, according to the Economic Survey 2019-20. China was the largest issuer.

NHPC solar auction oversubscribed

PFI Issue 666 - February 12, 2020

The 2GW solar auction held by the National Hydroelectric Power Corporation (NHPC) has been oversubscribed by 1.78GW. The projects must be able to connect to the Interstate transmission systems (ISTS).

NTPC signs syndication loan

PFI Issue 666 - February 12, 2020

State-owned power generator NTPC Ltd has signed a dual-tranche syndicated loan in Japanese yen equivalent to US$750m.

SECI extends solar auction deadline

PFI Issue 666 - February 12, 2020

Solar Energy Corporation of India Limited (SECI) has extended the deadline of its 7.5GW solar auction that will be developed in Leh-Kargil districts. The new date for submission of bids is April 30.

SECI invites bids for 5GW renewables

PFI Issue 666 - February 12, 2020

Solar Energy Corporation of India Ltd (SECI) is calling for bids to develop 5GW of power on a round-the-clock basis from renewable energy sources complemented with thermal power projects on a build-own-operate (BOO) basis.

SECI to auction solar/battery projects

PFI Issue 666 - February 12, 2020

Solar Energy Corporation of India (SECI) is calling for bids for 14MW of solar power projects with a 42MWh battery storage system (7MW/21MWh each) at Leh and Kargil. The last date for the submission of bids is March 16.

Stockland secures renewables loan

PFI Issue 666 - February 12, 2020

Property group Stockland has received a A$75m (US$50.3m) loan from the Clean Energy Finance Corp to build 11MW of solar rooftop capacity that will provide power to its commercial buildings.

Two win SECI 1.2MW solar/battery auction

PFI Issue 666 - February 12, 2020

Greenko and ReNew Power have been selected by Solar Energy Corporation of India (SECI) to deliver 1.2GW of solar and energy storage projects with guaranteed peak power supply.

METI procures only 40MW in latest solar auction

PFI Issue 666 - February 12, 2020

Japan’s Ministry of Economy, Trade & Industry (METI) has selected 27 projects with a combined capacity of 39.8MW as winners in its latest solar auction.

Local firm mulls six WtE projects

PFI Issue 666 - February 12, 2020

Makati-based Asia Pacific Renewable Energy Solutions is planning to develop six waste-to-energy (WtE) projects. The estimated project cost is about US$200m.

Two firms keen to join Araneta’s 800MW hydro

PFI Issue 666 - February 12, 2020

China CAMC Engineering Co and Singapore-based Equis Funds Group have expressed interest in partnering with businessman Gregorio Araneta in his plan to develop an 800MW pumped storage hydroelectric facility in Pangil, Laguna.

Engie launches renewables stake sale

PFI Issue 666 - February 12, 2020

Engie Australia has launched the 50% to 80% equity sale in the Australian Renewables Energy Platform it owns alongside Mitsui (20%).

ACS solar assets attract two bidders

PFI Issue 666 - February 12, 2020

The Acme Cleantec Solutions (ACS) sale of about 300MW of its 2.5GW of operational assets has attracted the UK’s Actis and Canada’s Brookfield as potential buyers.

Renewables project pipeline has collapsed, says CEC

PFI Issue 666 - February 12, 2020

The level of new investment commitments in large-scale renewable energy projects has collapsed by more than 50%, according to new analysis by the Clean Energy Council, which reveals a fall from 51 projects worth A$10.7bn (US$6.7bn) in 2018 to 28 projects worth A$4.5bn in 2019.

Neoen completes Hornsdale refinancing

PFI Issue 666 - February 12, 2020

Neoen and John Laing have refinanced the project financings on the operational 309MW Hornsdale wind farm in South Australia with a A$650m (US$439m) loan.

Windlab seeks bridge loan

PFI Issue 666 - February 12, 2020

Renewable energy company Windlab and its partner Eurus Holdings are negotiating a bridge loan with the Clean Energy Finance Corp (CEFC) to allow their SPV, Kennedy Energy Park, to pay A$949,740 in milestone payments previously withheld, A$6,592,075 in variation claims and delay costs, plus tax.

ACWA Power keen on floating solar

PFI Issue 666 - February 12, 2020

ACWA Power is understood to be keen to develop floating solar projects on major dams in Indonesia.

Algonquin preps for leadership transition

PFI Issue 666 - February 12, 2020

Algonquin Power & Utilities Corp has appointed Arun Banskota to the newly created position of president as he prepares to assume the role of chief executive officer.

MPC raises equity funds

PFI Issue 666 - February 12, 2020

Central America and Caribbean-focused renewables developer MPC Capital has raised additional equity capital via a 10m share issuance. The company’s equity base is now US$22m.

DFC to pen El Salvador MoU

PFI Issue 666 - February 12, 2020

The US International Development Finance Corporation (DFC) will pen a memorandum of understanding (MoU) in El Salvador bringing the country into the América Crece initiative.

Innergex and Hydro-Quebec in green JV

PFI Issue 666 - February 12, 2020

Innergex Renewable Energy and Hydro-Quebec have signed a renewable energy strategic alliance to invest in wind and solar projects with battery storage or transmission, distributed generation, and off-grid renewable energy networks.

EIA predicts low gas prices to 2050

PFI Issue 666 - February 12, 2020

The US Energy Information Administration (EIA) has predicted natural gas prices will remain below US$4/mmBtu through to 2050 in its Annual Energy Outlook.

Green hydrogen requirements calculated

PFI Issue 666 - February 12, 2020

Europe’s two Continent-wide transmission system operators (TSOs) have calculated that 300TWh–800TWh of new renewable generation will be needed to produce all the green hydrogen needed.

Equinor targets offshore wind boom

PFI Issue 666 - February 12, 2020

Norway’s state-run oil and gas company Equinor is planning to deploy 12GW–16GW of offshore wind capacity by 2035 as it plans to become an offshore wind “major”.

Sacyr registers Madrid renewables unit

PFI Issue 666 - February 12, 2020

Spanish construction company Sacyr has registered a subsidiary to design, build, manage and maintain renewable energy projects.

Morrison’s Galileo Green Energy plans European push

PFI Issue 666 - February 12, 2020

New Zealand-headquartered infrastructure investor Morrison & Co has created a new Europe-focused renewable energy development platform with an initial €220m of capital commitments. The platform, Galileo Green Energy (GGE), will co-develop a 300MW portfolio of wind in Ireland with EMPower.

Engie sacks Kocher

PFI Issue 666 - February 12, 2020

Engie has decided against renewing the mandate of Isabelle Kocher as its chief executive in May and will now be seeking a new head.

Lightsource BP contracts for 1.2GW of solar modules

PFI Issue 666 - February 12, 2020

Utility-scale solar developer Lightsource BP has entered a multi-year contract with Canadian Solar for 1.2GW of solar modules.

US starts duties on wind towers

PFI Issue 666 - February 12, 2020

The US International Trade Commission (USITC) is beginning to impose duties on wind towers imported from Canada, Indonesia, South Korea and Vietnam at rates of 5.04%, 6.38%, 5.98% and 65.96%, respectively.

Norwegian wind delays hit Siemens Gamesa

PFI Issue 666 - February 12, 2020

German-Spanish wind turbine manufacturer Siemens Gamesa has reported a one-off €150m charge related to delays on five onshore projects in Northern Europe.

Colbun expands and progresses Horizonte

PFI Issue 666 - February 12, 2020

Chilean group Colbun has submitted an environmental impact study for the Horizonte wind scheme, while expanding the project to 980MW from an expected 607MW.

Atlas taps Prodiel for EPC

PFI Issue 666 - February 12, 2020

Actis-linked Atlas Renewable Energy has tapped Spain’s Prodiel as engineering, procurement, and construction (EPC) manager for the 244MW Sol del Desierto solar photovoltaic project in the Atacama Desert. Construction activity kicked off this January.

Govt eyes oilfield power supply auction

PFI Issue 666 - February 12, 2020

The Government of Ecuador is set to launch a tender to supply electricity to the country’s oil fields.

State Grid loan nears close

PFI Issue 666 - February 12, 2020

China’s State Grid is nearing close on a roughly US$2bn loan backing its acquisition of Sempra Energy’s Chilean assets.

US Solar Fund to acquire solar portfolio

PFI Issue 666 - February 12, 2020

UK-based alternative energy investor US Solar Fund has agreed to acquire 100% of the equity interests in a 177MW portfolio of 22 solar projects from a unit of Heelstone Renewable Energy.

Ares partners on battery storage portfolio

PFI Issue 666 - February 12, 2020

Ares Management has partnered with energy storage developer Dimension Renewable Energy on a portfolio of utility-scale battery storage projects in New York that are under development by Dimension.

Vineyard Wind dealt timeline setback

PFI Issue 666 - February 12, 2020

The federal review of the Vineyard Wind offshore wind project in Massachusetts may take until December to conclude, Commonwealth Magazine reported.

Clean Energy Connector likely heading to ballot

PFI Issue 666 - February 12, 2020

A group opposing Central Maine Power’s (CMP) New England Clean Energy Connect (NECEC) transmission project is expected to deliver enough signatures to force a state-wide ballot measure on the project in November.

New York eyes summer offshore wind procurement

PFI Issue 666 - February 12, 2020

The New York State Energy Research & Development Authority (NYSERDA) has filed a petition with the state’s Public Service Commission (PSC) seeking permission to launch a new procurement for offshore wind projects.

CIB to advise on hydro link

PFI Issue 666 - February 12, 2020

Canada Infrastructure Bank (CIB) has signed a memorandum of understanding (MoU) to advise on the Manitoba–Nunavut hydro link, a project that will bring hydroelectricity and broadband from northern Manitoba to communities in the Nunavut territory.

Greengate partners with CIP on Travers

PFI Issue 666 - February 12, 2020

Alberta-based renewable energy developer Greengate Power has partnered with Copenhagen Infrastructure Partners (CIP) on a funding and development agreement for the Travers solar project in Vulcan County, Alberta.

Teck taps AES for QB2 power supply

PFI Issue 666 - February 12, 2020

Canadian miner Teck has tapped AES Gener to supply power to its Quebrada Blanca Phase 2 (QB2) copper mine in northern Chile.

Arroyo in market with refi

PFI Issue 666 - February 12, 2020

Arroyo Energy Investors is in the market looking to refinance the project finance debt at two renewable energy projects.

Solar pipeline grows

PFI Issue 666 - February 12, 2020

The unsubsidised solar project pipeline in Brazil for schemes shying away from looking to win contracts in public auctions is over 5.5GW, according to a report from Brazil-based consultancy Greener.

Mass approvals for renewables

PFI Issue 666 - February 12, 2020

National mining and energy planning unit UPME has given connection approval to more than 120 renewables projects that could add 7.7GW to the grid.

Engie refinances bonds

PFI Issue 666 - February 12, 2020

Engie Energia Chile has closed a US$500m bond issue to refinance debt with lower pricing and to fund working capital.

EDP lands BNDES deal

PFI Issue 666 - February 12, 2020

EDP Renováveis ??Brasil has landed a R$1bn (US$238m) financing backing 319.2MW of wind farms in Rio Grande do Norte.

Mainstream nears final terms on portfolio deal

PFI Issue 666 - February 12, 2020

Ireland’s Mainstream Renewable Power is nearing a final structure for the financing backing the next phase of its 1.3GW Andes Renovables solar and wind platform.

Petrobras launches wind sale

PFI Issue 666 - February 12, 2020

State-run oil company Petrobras has launched the sale of its stakes in a pair of wind farms in Rio Grande do Norte.

Lavras solar financed

PFI Issue 666 - February 12, 2020

Canadian Solar has closed a R$225.2m (US$55m) non-recourse project finance deal backing the 152.4MW Lavras solar power project.

Eletrobras lands bond deal

PFI Issue 666 - February 12, 2020

Latin America’s biggest utility Eletrobras has priced a US$500m bond issue due 2025 at 3.625% and US$750m of bonds due 2030 at 4.625%.

MPC closes solar deal

PFI Issue 666 - February 12, 2020

MPC Capital has closed a US$7.8m financing backing the 6.5MW San Isidro Fotovoltaica solar project.

Carlyle commits US$100m to solar venture

PFI Issue 666 - February 12, 2020

Carlyle Group affiliate Cardinal Renewables has made a US$100m commitment to partner with Alchemy Renewable Energy to develop, acquire, finance and operate solar projects throughout the US.

Private placement backs hydro buy

PFI Issue 666 - February 12, 2020

Private equity firm Hull Street Energy is acquiring a 255MW portfolio of 31 hydroelectric facilities from EGPNA Renewable Energy Partners, a joint venture between Enel Green Power North America and GE Energy Financial Services.

Dominion signs Virginia PPAs

PFI Issue 666 - February 12, 2020

The College of William & Mary in Virginia has signed a 20-year power purchase agreement (PPA) with Dominion Energy that will source nearly 50% of the university’s electricity from renewable energy.

Capital Dynamics signs Indiana solar PPA

PFI Issue 666 - February 12, 2020

Capital Dynamics has signed a 100MW long-term power purchase agreement (PPA) with the Indiana Municipal Power Agency (IMPA) for a greenfield solar project.

Quinbrook's GlidePath to develop NY storage

PFI Issue 666 - February 12, 2020

Quinbrook Infrastructure Partners portfolio company GlidePath has agreed to complete development and achieve construction readiness this year on 80MW of standalone battery storage projects in New York.

South Dakota approves utility-scale solar

PFI Issue 666 - February 12, 2020

South Dakota Public Utilities Commission has granted permits for the construction and operation of the state’s first utility-scale solar project.

True Green closes solar debt and tax equity

PFI Issue 666 - February 12, 2020

True Green Capital Management (TGC), an energy infrastructure asset management firm, has closed US$42.8m in debt financing and US$41.1m in tax equity financing backing community solar projects in New York.

Capstone acquires Alberta wind interest

PFI Issue 666 - February 12, 2020

Capstone Infrastructure has acquired a 51% interest in the 132MW Claresholm solar project from Perimeter Solar.

Kriegers Flak offshore wind approved

PFI Issue 666 - February 12, 2020

The Danish Energy Agency (DEA) has approved Vattenfall’s 604.8MW Kriegers Flak wind project and has granted the company an environmental impact assessment permit.

EDF and Enbridge line up Fecamp offshore banks

PFI Issue 666 - February 12, 2020

French banks Societe Generale, BNP Paribas and CACIB will underwrite EDF Renouvables and Enbridge’s 498MW Fecamp wind project off the coast of France. Financial close could take place by April this year.

Turkana loses potential investor

PFI Issue 666 - February 12, 2020

Google has pulled out of a deal to acquire 12.5% of Kenya’s 310MW Lake Turkana wind project, apparently due to delays over the installation of the now completed project’s transmission line.

EDPR signs renewables MoU

PFI Issue 666 - February 12, 2020

EDP Renovaveis has signed a memorandum of understanding (MoU) with Greece’s state-owned utility PPC to develop a 400MW pipeline of renewable energy projects.

Seagreen deal back out

PFI Issue 666 - February 12, 2020

SSE has started to sound out banks about a tweaked structure for the project financing for its 1.1GW Seagreen offshore wind farm. The latest deal now includes an EKF-backed export credit agency tranche, a shorter tenor and a lower amount of debt from the original figure of £1.8bn. On the equity side China Resources and Total are said to be left in the bidding.

Ofgem looks to can OFTOs

PFI Issue 666 - February 12, 2020

Electricity regulator Ofgem is to put in place a new model for connecting offshore wind farms to the grid.

Tamasuk buys wind stake

PFI Issue 666 - February 12, 2020

Tamasuk Holdings, owned by ABG Investments, has bought a 50% stake in the US$290m 117MW Tafila wind from InfraMed. Masdar is the other shareholder in the scheme, having upped its stake from 31% by buying EP Global Energy’s investment.

Borusan signs wind expansion loan

PFI Issue 666 - February 12, 2020

Borusan EnBW has signed the loan documentation for the 72MW expansion of the Kiyikoy wind farm with debt from EBRD and ICBC.

IP seeks solar partners

PFI Issue 666 - February 12, 2020

Indonesia Power (IP), a subsidiary of PLN, has issued an invitation this week for partners to develop four solar power plants under a programme called Proyek Hijaunesia.

Loan signing for CIP's offshore wind

PFI Issue 666 - February 12, 2020

Copenhagen Infrastructure Partners (CIP) has completed the signing of NT$75bn (US$2.5bn) of loan facilities to finance the development of its 600MW offshore wind farms in Taiwan.

Local manufacturer secures solar funds

PFI Issue 666 - February 12, 2020

Taiwan company Chung-Hsin Electric & Machinery Manufacturing (CEMM) has secured a NT$4.3bn (US$143m) dual-tranche maiden project financing to develop a solar plant in Tainan city.

Temasek injects funds in Sunseap

PFI Issue 666 - February 12, 2020

Temasek Holdings and Asia-focused private equity fund ABC World Asia have jointly injected S$50m (US$36.8m) into Sunseap Group.

Sembcorp wins Tengeh floating solar

PFI Issue 666 - February 12, 2020

Energy and utilities group Sembcorp Industries has been declared the preferred bidder for the project to design, build, own and operate (DBOO) a floating solar farm on Tengeh Reservoir.

Big solar deal out

PFI Issue 666 - February 12, 2020

The Ministry of Finance has published details of a proposed tender for a 300MW solar PV scheme with a possible storage add-on near Dimona in the Negev Desert.

Two for Category A solar

PFI Issue 666 - February 12, 2020

Only two bids were submitted for the Category A solar projects from Alfanar/Tamasuk and First Solar. The schemes bid for are Madinah 50MW, and Mahd Aldhab 20MW.

Smaller Simec Atlantis bond completed

PFI Issue 666 - February 12, 2020

Renewables developer Simec Atlantis Energy has completed its funding bond issue raising £3.69m. The target was £7m. The bonds are priced at 8%.

TJH lands highway bond

PFI Issue 666 - February 12, 2020

Special purpose entity TransJamaica Highway Ltd (TJH) has landed US$225m in fully amortising senior secured bonds for refinancing the 49.9km Highway 2000 East-West toll road that connects the capital Kingston with May Pen.

Tren Maya PPP schedule out

PFI Issue 666 - February 12, 2020

Mexico’s tourism fund Fonatur has revealed the timeline for bidding on the massive Tren Maya rail public-private partnership.

RFP for Yangon expressway out

PFI Issue 666 - February 12, 2020

Myanmar’s Ministry of Construction has issued the request for proposals (RFP) to the 10 pre-qualified bidders for Phase 1 of the Yangon Elevated Expressway (YEX) public-private partnership (PPP) project. The IFC is its transaction adviser.

Market sounding on port PPP

PFI Issue 666 - February 12, 2020

The Port of Gdynia Authority has launched a market sounding for its Port of Gdynia PPP project with an EY-led advisory team.

Delays lead to negative outlook for C-470

PFI Issue 666 - February 12, 2020

Fitch has affirmed the rating and assigned a negative outlook on debt backing Colorado’s C-470 express lanes project.

Alaskan city evaluates ports proposals

PFI Issue 666 - February 12, 2020

The city council in Ketchikan, Alaska, met in recent weeks for the first in a series of meetings to evaluate a potential public-private partnership on its ports.

Orsted reaches port lease deal in Virginia

PFI Issue 666 - February 12, 2020

Virginia Port Authority has agreed to lease a portion of the Portsmouth marine terminal to Orsted for offshore wind staging.

Market updated on Ontario P3

PFI Issue 666 - February 12, 2020

Ontario Minister of Infrastructure Laurie Scott has provided a market update on infrastructure projects.

Winner named on highway twinning P3

PFI Issue 666 - February 12, 2020

The Nova Scotia government has selected Dexter Nova Alliance to design, build, finance, operate and maintain a section of Highway 104 under a public-private partnership.

Seven pre-qualified for Batam Airport PPP

PFI Issue 666 - February 12, 2020

Seven bidders have been pre-qualified for the Batam Hang Nadim Airport expansion project and of these, three are consortia.

Govt rejects MPIC’s offer to take over MRT-3

PFI Issue 666 - February 12, 2020

The Philippines government has rejected the unsolicited proposal of Metro Pacific Investments (MPIC) to take over the operations and maintenance of Metro Rail Transit Line-3 (MRT-3), MPIC CEO Jose Maria Lim said in a recent interview.

Govt approves 10 infra projects worth US$15bn

PFI Issue 666 - February 12, 2020

The board of the National Economic & Development Authority (NEDA) has approved 10 infrastructure projects that require investment of Ps765.36bn (US$15bn).

Harbour Tunnel project costs rise

PFI Issue 666 - February 12, 2020

Costs of the Harbour Tunnel project and the Beaches Link to Sydney’s northern suburbs have jumped to A$16.8bn (US$11.3bn), some A$4bn above the previous budget.

Govt pushes for Long Thanh Airport study

PFI Issue 666 - February 12, 2020

The Vietnamese government is pushing for completion of the feasibility study on the first development phase of the proposed Long Thanh international Airport.

Japanese Shinkansen mulled for HSR

PFI Issue 666 - February 12, 2020

Malaysia’s minister for economic affairs has suggested studying Japan’s railway technology in developing the Kuala Lumpur to Singapore high-speed rail (HSR) project.

Big interest in river PPP

PFI Issue 666 - February 12, 2020

More than 40 companies have expressed interest in bidding on the Magdalena River navigability public-private partnership. The first phase of the works requires Ps1.4trn (US$413.5m).

Acciona closes metro transfer

PFI Issue 666 - February 12, 2020

Acciona has landed the concession for the Metro Line 6 public-private partnership project in Sao Paulo after months of negotiations with the Sao Paulo state government.

Highway PPP award due in 2020

PFI Issue 666 - February 12, 2020

The structuring of the long-delayed final section of the Buga–Buenaventura dual carriageway 4G public-private partnership is expected to be complete by the middle of the year, allowing for an award by the end of 2020.

DFC to pen El Salvador MoU

PFI Issue 666 - February 12, 2020

The US International Development Finance Corporation (DFC) will pen a memorandum of understanding (MoU) in El Salvador bringing the country into the América Crece initiative.

Brookfield closes fourth infra fund

PFI Issue 666 - February 12, 2020

Brookfield Asset Management has closed the fourth instalment of its flagship global infrastructure fund, Brookfield Infrastructure Fund IV (BIF IV), with total equity commitments of US$20bn.

Denver Eagle P3 stabilises

PFI Issue 666 - February 12, 2020

Moody’s has revised the outlook on bonds backing the Denver Eagle light rail P3 to stable from negative as uncertainty about project operations has been resolved.

Forum set for Ultimate Urban Circulator P3

PFI Issue 666 - February 12, 2020

Jacksonville Transportation Authority (JTA) in Florida has set an industry forum for February 18–20 to provide interested parties with more information on plans for the Ultimate Urban Circulator public-private partnership.

Hamilton task force prepping transit report

PFI Issue 666 - February 12, 2020

Ontario Transport Minister Caroline Mulroney has appointed a five-member task force that will determine how to spend C$1bn (US$752.4m) on transit projects in Hamilton following the cancellation of a light rail transit (LRT) project in December.

FC on Moscow ring road

PFI Issue 666 - February 12, 2020

A club of banks has made a first disbursement on the Rbs35.8bn (US$560m) financing of the fourth section of Moscow’s Central Ring Road.

Elsewedy gets port PPP

PFI Issue 666 - February 12, 2020

Elsewedy Electric Alliance has been awarded a PPP contract to develop the first dry port in Egypt in 6th of October city.

Bidders line up for Brisa

PFI Issue 666 - February 12, 2020

Abertis, Globalvia and Aleatica are among the bidders vying to purchase an 80% stake in Portuguese highway operator Brisa, with binding proposals expected by the end of March, according to a report in the local Economista.

Super wins Peel Ports

PFI Issue 666 - February 12, 2020

AustralianSuper has own the tender to buy a 25% stake in Peel Ports, beating APG, QIC and Equitix, from Peel owner John Whittaker and DWS Investments, formerly Deutsche Asset & Wealth Management. Peel and DWS will keep the rest of the equity. Rothschild and Linklaters advised.

Delek to refi Leviathan deal

PFI Issue 666 - February 12, 2020

Delek Drilling is looking to refinance the US$1.75bn four-year construction loan from early 2017 on its 45% stake in the Leviathan gas field project. The company is looking to raise US$2.5bn in long-term finance from the bank or bond market, or both.

Bahrain FSU redeployed

PFI Issue 666 - February 12, 2020

The Bahrain Spirit floating storage unit (FSU), which serves the Bahrain LNG regas terminal project, is being redeployed on short-term trade now construction at the terminal has been completed.

Gas pipe bids due

PFI Issue 666 - February 12, 2020

Bids are due in mid-February for a 49% equity stake in ADNOC’s gas pipelines. The deal could value the asset at US$15bn including debt, according to local reports.

Tamar squeeze

PFI Issue 666 - February 12, 2020

Investors in Israel believe the sales projections for the Tamar gas field are over-optimistic, according to reports last week in local newspaper Globes.

Blackrock into North Sea infra JV

PFI Issue 666 - February 12, 2020

Delek Group subsidiary Ithaca has signed a non-binding deal with an investment firm, believed to be BlackRock, to establish a new infrastructure company for its North Sea operations.

ADM inks PF memorandum

PFI Issue 666 - February 12, 2020

Nigerian oil and gas group ADM Energy has signed a non-binding memorandum of understanding (MoU) with multinational commodities trader Trafigura to finance future projects.

Wren House to refi NSMP

PFI Issue 666 - February 12, 2020

RBC is due to launch the refinancing of the £767m seven-year loan backing North Sea Midstream Partners (NSMP) next month.

Petroamazonas taps Bermeo

PFI Issue 666 - February 12, 2020

Ecuadorean state-run energy company Petroamazonas has appointed Juan Carlos Bermeo as general manager. He replaces Lenin Pozo.

Petrobras hires banks for next sale

PFI Issue 666 - February 12, 2020

State-run energy company Petrobras has reportedly hired banks to run the sale of its stake in fuel distribution unit Petrobras Distribuidora.

Equinor and Shell buy onshore block

PFI Issue 666 - February 12, 2020

A partnership formed by Equinor and Shell has acquired a 49% interest held by Schlumberger in the Bandurria Sur onshore block in Neuquen province. Each of two 24.5% stakes cost US$177.5m.

Tallgrass finalises terms on US$375m TLB add-on

PFI Issue 666 - February 12, 2020

Tallgrass Energy has launched a US$375m add-on to a US$1.1bn Term Loan B closed last year. The add-on was increased by US$75m after the deal started circling the market.

GyM shareholders ratify pipeline actions

PFI Issue 666 - February 12, 2020

Shareholders in Peruvian company Grana y Montero ratified the company’s actions on the failed Gasoducto Sur Peruano (GSP) pipeline project during an extraordinary shareholder meeting held this month.

Equinor mandates Modec for FPSO

PFI Issue 666 - February 12, 2020

Norway’s Equinor has tapped Modec to deliver a floating production storage and offloading (FPSO) unit in the Bacalhau area of the pre-salt Santos basin offshore Brazil. It will be built in China.

ONGC Videsh picks refinancing lenders

PFI Issue 666 - February 12, 2020

Oil and gas company ONGC Videsh’s offshore unit has picked Bank of Baroda, DBS Bank, Korea Development Bank, First Abu Dhabi Bank, MUFG, State Bank of India, SMBC, Westpac and United Overseas Bank to refinance a US$1.775bn five-year facility completed in March 2016, IFR reported.

Govt to fund new energy projects

PFI Issue 666 - February 12, 2020

The Federal government is set invest about A$2bn (US$1.34bn) in grants and soft loans to boost New South Wales gas production. The NSW government will also provide A$1bn in direct funding.

Former Cheniere exec to Mexico Pacific

PFI Issue 666 - February 12, 2020

LNG developer Mexico Pacific has appointed former Cheniere Energy executive Douglas Shanda as president and chief executive, effective immediately.

Jordan Cove fight could head to court

PFI Issue 666 - February 12, 2020

Oregon state senator Jeff Golden expects a court battle if the Federal Energy Regulatory Commission (FERC) approves Pembina Pipeline’s Jordan Cove LNG export project by February 13 as expected, after the state denied key permits.

Cheniere dismisses suit against Tellurian

PFI Issue 666 - February 12, 2020

Cheniere Energy has dismissed all claims against Tellurian, its chairman Charif Souki, and vice-chairman Martin Houston in the district court of Harris County, Texas.

VPower partners with Chinese co

PFI Issue 666 - February 12, 2020

Hong Kong-listed VPower Group International Holdings is partnering with China National Technical Import & Export Corporation (CNTIC) on a 50:50 basis to form a joint venture company to develop and operate three power plants with a total capacity of 900MW.

Total calls for end to LNG dispute

PFI Issue 666 - February 12, 2020

French company Total has called on the PNG government and ExxonMobil to return to the negotiating table to resolve their differences on profit sharing of the planned US$13bn LNG expansion.

New LNG trucking scheme emerges

PFI Issue 666 - February 12, 2020

Edge LNG, a company backed by private equity firm Blue Water Energy and gas technology developer Galileo Global, is moving forward with a plan to set up an LNG operation that will truck gas from the Marcellus shale field in Pennsylvania.

Yinson Holdings seeks new loan

PFI Issue 666 - February 12, 2020

Yinson Holdings, a leading provider of floating, production, storage and offloading (FPSO) services, is seeking a US$100m three-year corporate term loan as its five-year US$100m is nearing financial close.