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Project Finance International (PFI) has been at the forefront of project finance reporting for the last 25 years. It is the most comprehensive and authoritative publication to serve the industry, covering all the major sectors, including transport, power, oil & gas, infrastructure and mining.

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Daily News

TAV Airport bond priced

Maiden issuer TAV Airports has printed a US$400m five-year non-call two senior unsecured 144A/Reg S bond at 8.50%, flat to where established borrower Mersin International Port sold refinancing bonds only three weeks before, reports IFR. The book for TAV topped US$1.5bn, with leads cutting the yield from 9% area IPTs.

PFI Comment

Having it both ways

Renewables project cost prices are shooting up, renewables project cost prices are collapsing. Consumers are paying a lot less for renewable generation these days as technological gains have driven costs down, which is great news. Consumers are being asked for pay a lot more for renewable generation these days which is great news. It has not all been bad news of late on the renewable costs front but some of the good news is not good news.

PFI Special Report

PFI Global Infrastructure Report 2023

Project Finance International has published its yearly Global Infrastructure Report, 52 pages of analysis on the issues and trends impacting the project finance infrastructure market. The report contains profiles of leading equity and debt investors in the sector at a time of rising interest rates and construction prices. It dives into new sectors as such EV charging and data centres and profiles more traditional sectors such as airports. PPP growth markets such as those in the Gulf are detailed

CDPQ infra portfolio grows with greenfield

CDPQ has more than tripled its infrastructure portfolio over the past five years. Infrastructure head Emmanuel Jaclot is focused on optimisation of portfolio companies and taking advantage of greenfield growth. By Alison Healey.

DIF invests in a changing world

Infrastructure equity fund manager DIF sees current high interest rates as potentially having longer-term positive implications for infrastructure investors, rather than acting as a brake on the financing of projects. By Nick Herbert.

EDRAM's BRIDGE rides the waves

Despite soaring inflation, rounds of interest rate hikes, and a war in Europe, EDRAM is making record deployments and is optimistic for its latest fund raise, BRIDGE VI. By Nick Herbert.

California EV - Phone home

The need for ubiquitous electric vehicle infrastructure poses a significant impediment to the electrification of the transportation sector in California and beyond. By Barry Epstein and Dana Palmer, Allen Matkins.

Navigating a successful US airport P3

Walking through LaGuardia Airport in 2023, you might forget that just a few years ago the terminals were woefully out of date. By Karol Denniston, global project partner, Alethia Nancoo and Catherine Romanchek, partners, public infrastructure and finance, Squire Patton Boggs.

LatAm airports back in the air

Countries across Latin America are announcing major airport investments as air travel ramps up again after the pandemic. Financings will benefit from strong support. By Nic Stone.

Bulacan to win Philippines airport race

Driven by robust economic growth and rising demand for infrastructure, the Philippines is one of a number of markets that we expect will stand out for infrastructure investment over the coming years. By Tim Kerckhoff, infrastructure analyst, BMI Research, a Fitch Solutions company.

Monetising Indian infra assets

Infrastructure Investment Trusts involve raising debt by pooled investment vehicles facilitating infrastructure asset monetisation. By Santosh Janakiram. partner, head, projects, Kranti Mohan, partner, head, REITs and InvITs and Sangita John, partner, Cyril Amarchand Mangaldas.

Lessons from Singapore data centres

It is estimated that by 2025, every person in the developed world will have at least one interaction with a data centre every 18 seconds of their life. By Alfred Ng, Rebecca Cope, Andrew Hilton and Choo Yi Ming, Ashurst ADTLaw.

OFTO model for Australia

The answer is blowin' in the wind – why Australia should look abroad for its offshore energy transmission framework. By Vaughan Wallace, Head of Asia-Pacific, Amber Infrastructure,

Construction market ebbs and flows

The construction sector is likely to remain well supported in coming years by publicly funded climate-related infrastructure projects. Increased construction activity should keep prices of building materials underpinned, but underlying geopolitical uncertainty brings the threat of volatility and delivery concerns. By NICK HERBERT.

Allego charges up for PF

European EV charging infrastructure developer and operator Allego is looking at a capex programme of about €1bn over the next five to six years. With its recently financed capex facility expected to last until mid-2024, Allego will need to either extend it or raise new PF debt. By JORDAN BINTCLIFFE.

Building the emerging market PPP base

As PPPs rise in popularity across many of the EBRD’s countries of operation, the bank is scaling and tailoring its impact with new country-specific project preparation facilities and with collaborative advisory services with the World Bank’s IFC. By Cristiana Sandeva.

PPPs in Israel back stronger than ever

Public-private partnerships for infrastructure across Israel are booming and attracting more international developers and financiers to the country. By Cristiana Sandeva

NOOR 2 – Lighting up PPPs

The GCC countries, mainly the United Arab Emirates and Saudi Arabia, have recently expanded their use of the PPP model outside the traditional utility, power and water, and oil and gas space and into the social infrastructure space. PPPs have proved to be a great tool to de-risk these replacement projects and maximise the potential for sustainable and cost-effective solutions over the long term. By Savio Tohme, head of PPP and concessions, Maxime Rousselet, technical project development manager, ENGIE Solutions Middle East, and Rohit Balakrishnan, director, project and export finance, MENAP, Standard Chartered.

Saudi Arabia and the PPP boom

The significance of public-private partnerships (PPPs) is paramount in the economic transformation of Saudi Arabia. By Ghazali Inam, senior vice-president, corporate banking division, Riyad Bank.

PFI Yearbook

PFI Yearbook 2023

Welcome to the 2023 Refinitiv Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2022 through case studies and the PFI Awards, and look forward into 2023 with a range of themed articles and profiles in the Global section of the book. Transition was the buzz word this year. Transition from the low interest rate, low inflation economic conditions of the last decade to the less benign conditions of today. Transition to the net-zero

Latest Financed Deals

DateProject NameRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
Faraday Solar ProjectNorth AmericaUnited StatesPower1,400.000Excelsior Energy Capital LPCOHNREZ-CAPAKIN-GUMP, WINSTON-STRAWN, SHEPPARD-MULLIN
Summit Ridge Virginia and Illinois Community Solar Pipeline ProjectNorth AmericaUnited StatesPower275.000Summit Ridge Energy LLC
NTPU Minsheng Campus Industry Academic Cooperation Center & Alumni Hall ProjectAPACTaiwanLeisure & Property93.820Hongwell GroupTWL-LAW, TWL-LAW, CHEN-ASSOC, CHEN-ASSOC-TAI
ContourGlobal Italy Solar Portfolio ProjectEMEAItalyPower216.330ContourGlobal PLC
Vikings Energy Farm ProjectNorth AmericaUnited StatesPower, Power338.000Rai Energy International, Apex Energy Solution Co Ltd, Arevon Energy IncSTOEL-RIVES-LLP, WINSTON-STRAWN
Yizhu Beimen Xuejia Solar Power ProjectAPACTaiwanPower216.010Win Semiconductors Corp, NFC A Co Ltd, Hontai Life Insurance Co Ltd, Farglory Life Insurance Co Ltd, Mercuries Life Ins Co LtdLEE-LI
26 MW Worldwide Holdings Jeram Waste To Energy Facility ProjectMalaysiaMalaysiaPower, Waste & Recycling112.780Worldwide Holdings BhdASL, KADIRANDRI
22 MW Worldwide Holdings Jeram Waste To Energy Facility ProjectMalaysiaMalaysiaPower, Waste & Recycling98.600Worldwide Holdings BhdASL, KADIRANDRI
UK Solar & Battery Storage Plant ProjectEMEAUnited KingdomPower, Power43.610Innova Renewables Ltd, Schroders Greencoat LLP
Las Villas-Pampahasi Brown Line Cable Car Network Expansion ProjectLATAMBoliviaTransportation62.000Mi Telefrico
Project NameFaraday Solar ProjectSummit Ridge Virginia and Illinois Community Solar Pipeline ProjectNTPU Minsheng Campus Industry Academic Cooperation Center & Alumni Hall ProjectContourGlobal Italy Solar Portfolio ProjectVikings Energy Farm ProjectYizhu Beimen Xuejia Solar Power Project26 MW Worldwide Holdings Jeram Waste To Energy Facility Project22 MW Worldwide Holdings Jeram Waste To Energy Facility ProjectUK Solar & Battery Storage Plant ProjectLas Villas-Pampahasi Brown Line Cable Car Network Expansion Project
RegionNorth AmericaNorth AmericaAPACEMEANorth AmericaAPACMalaysiaMalaysiaEMEALATAM
CountryUnited StatesUnited StatesTaiwanItalyUnited StatesTaiwanMalaysiaMalaysiaUnited KingdomBolivia
SectorPowerPowerLeisure & PropertyPowerPower - PowerPowerPower - Waste & RecyclingPower - Waste & RecyclingPower - PowerTransportation
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Latest Pipeline Deals

DateProject NameStatusRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
Commonwealth LNG Carbon Capture and Storage ProjectAgreement SignedNorth AmericaUnited StatesOil & Gas0.000Cameron Project LLC, Onstream Co2 Llc
Jepri Pecem Port Green Hydrogen ProjectAgreement SignedLATAMBrazilPetrochemicals3,943.080Jepri Grp
Tokyu Land Japan Onshore Wind ProjectContract AwardedAPACJapanPower0.000Tokyu Fudosan Holdings Corp, METI
JR East Energy Development Japan Onshore Wind ProjectContract AwardedAPACJapanPower0.000METI, JR-E Energy Dvlp Co Ltd
Longroad Energy Holdings Renewable Energy Portfolio ProjectAnnouncedNorth AmericaUnited StatesPower, Power, Power0.000Longroad Energy Partners LLC
HSE Corp Japan Onshore Wind ProjectContract AwardedAPACJapanPower0.000METI, HSE Corp
Green Infra Wind Energy Madhya Pradesh-Rajasthan Leap Green Acquisition ProjectSale Agreement SignedAPACIndiaPower52.360Leap Green Energy Pvt Ltd
Qinzhou Yuanneng Wind Power Acquisition ProjectSale Agreement SignedAPACChinaPower97.250Envision Energy Co Ltd
BP South Korea Southern Coast Offshore Wind Power Complex ProjectAnnouncedAPACSouth KoreaPower0.000BP PLC
Victorian Desalination Plant Acquisition ProjectAnnouncedAPACAustraliaWater & Sewerage0.000UniSuper Ltd, Dexus Cmnty Infrastructure, Suez SA, Macquarie Prism Pty Ltd, Thiess Group Holdings Pty Ltd, Itochu Corp, Kookmin BankBARRENJOEY-CAP
Project NameCommonwealth LNG Carbon Capture and Storage ProjectJepri Pecem Port Green Hydrogen ProjectTokyu Land Japan Onshore Wind ProjectJR East Energy Development Japan Onshore Wind ProjectLongroad Energy Holdings Renewable Energy Portfolio ProjectHSE Corp Japan Onshore Wind ProjectGreen Infra Wind Energy Madhya Pradesh-Rajasthan Leap Green Acquisition ProjectQinzhou Yuanneng Wind Power Acquisition ProjectBP South Korea Southern Coast Offshore Wind Power Complex ProjectVictorian Desalination Plant Acquisition Project
CountryUnited StatesBrazilJapanJapanUnited StatesJapanIndiaChinaSouth KoreaAustralia
SectorOil & GasPetrochemicalsPowerPowerPower - Power - PowerPowerPowerPowerPowerWater & Sewerage
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