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Daily News

Three on Chicago Red Line

The Chicago Transit Authority has issued a request for proposals to three teams shortlisted on the US$3.6bn Red Line heavy rail extension project: the FH Paschen, Ragnar Benson, Milhouse and BOWA joint venture; Kiewit Infrastructure; and Walsh Vinci Transit Community Partners.

PFI Comment

New era for renewables

Exciting times for the financing of renewable projects – Maersk green methanol, Baltic Wind, Zenobe, Gridserve, CfD 5 etc. CfD 5? Wasn't that the UK renewables auction that failed? Not quite. There were plenty of projects that won contracts, and indeed some in new sectors such as geothermal won through. But the big elephant in the room, the offshore wind sector, did not and there was much comment on missed opportunities and the need for reform of the system – although slightly less on reforming the sector itself.

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
solarZero New Zealand Residential Solar Energy Portfolio ProjectAPACNew ZealandPower53.400solarZero Ltd
Serentica Gadag Wind-Solar Hybrid ProjectAPACIndiaPower, Power370.890Serentica Renewables Pvt Ltd
Graha Teknololgi Nusantara Jakarta Data Centres ProjectAPACIndonesiaTelecommunications403.800PT Graha Teknologi Nusantara
TP Solar Tirunelveli Photovoltaic Cell & Module Manufacturing Plant ProjectAPACIndiaIndustry, Power425.000Tp Solar Ltd
Finerge Iberia Wind & Solar Photovoltaic ProjectEMEASpainPower, Power165.830Finerge SALATHAM-WATKINS
BlueWave Massachusetts Solar Portfolio ProjectNorth AmericaUnited StatesPower91.000Bluewave SolarCOHNREZ-CAPFOLEY-HOAG
Citicore Luzon Solar Portfolio ProjectAPACPhilippinesPower30.000Citicore Renewable Energy
Apuiat Wind Farm ProjectNorth AmericaCanadaPower608.000Boralex Inc, Innu Cmnty
NewGen Kwinana Power Station ProjectAPACAustraliaPower255.000Energy Infrastructure Trust, Sumitomo CorpRBC-CAP-MKTSALLENS, WHITE-CASE
AirTrunk TOK1 Expansion ProjectAPACJapanTelecommunications384.850AirTrunk Operating Pty LtdGILBERT-TOBIN, KING-WOOD-MAL
Project NamesolarZero New Zealand Residential Solar Energy Portfolio ProjectSerentica Gadag Wind-Solar Hybrid ProjectGraha Teknololgi Nusantara Jakarta Data Centres ProjectTP Solar Tirunelveli Photovoltaic Cell & Module Manufacturing Plant ProjectFinerge Iberia Wind & Solar Photovoltaic ProjectBlueWave Massachusetts Solar Portfolio ProjectCiticore Luzon Solar Portfolio ProjectApuiat Wind Farm ProjectNewGen Kwinana Power Station ProjectAirTrunk TOK1 Expansion Project
CountryNew ZealandIndiaIndonesiaIndiaSpainUnited StatesPhilippinesCanadaAustraliaJapan
SectorPowerPower - PowerTelecommunicationsIndustry - PowerPower - PowerPowerPowerPowerPowerTelecommunications
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Latest Pipeline Deals

DateProject NameStatusRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
Atlantic RNG Facility ProjectAgreement SignedNorth AmericaUnited StatesOil & Gas, Oil & Gas0.000South Jersey Industries Inc, OPAL Fuels Inc
Millers Branch Solar Acquisition ProjectSale CompletedNorth AmericaUnited StatesPower0.000Southern Power Co, EDF Renewables Inc
Altan Redes Internet Services Expansion PPP ProjectAnnouncedLATAMMexicoTelecommunications0.000ALTAN Redes SAPI de CV
Nautilus Solar Energy 7 States Community Solar Portfolio ProjectCompletedNorth AmericaUnited StatesPower202.000Nautilus Solar Energy LLCNATL-BK-FIN, RBC-CAP-MKTSGREENBERG
CCR Foz do Iguacu Airport Expansion ProjectAnnouncedLATAMBrazilTransportation55.320CCR Aeroportos
Fundacao Centro de Atendimento Socioeducativo ao Adolescente Youth Services PPPAnnouncedLATAMBrazilLeisure & Property0.000Sao Paulo(Republica Do Brasil)
Estonian Solar ProjectUnder ConstructionNorth AmericaUnited StatesPower, Power0.000Enel North America Inc
Cumayasa III Solar PV Park ProjectAnnouncedLATAMDominican RepPower0.000EFD Ecoener Fotovoltaica
Akamihk Transmission Line ProjectAnnouncedNorth AmericaCanadaPower0.000Akamihk Energy Inc
Substantial Group UK Fibre Roll Out ProjectAnnouncedEMEAUnited KingdomTelecommunications780.510Substantial Grp Ltd
Project NameAtlantic RNG Facility ProjectMillers Branch Solar Acquisition ProjectAltan Redes Internet Services Expansion PPP ProjectNautilus Solar Energy 7 States Community Solar Portfolio ProjectCCR Foz do Iguacu Airport Expansion ProjectFundacao Centro de Atendimento Socioeducativo ao Adolescente Youth Services PPPEstonian Solar ProjectCumayasa III Solar PV Park ProjectAkamihk Transmission Line ProjectSubstantial Group UK Fibre Roll Out Project
RegionNorth AmericaNorth AmericaLATAMNorth AmericaLATAMLATAMNorth AmericaLATAMNorth AmericaEMEA
CountryUnited StatesUnited StatesMexicoUnited StatesBrazilBrazilUnited StatesDominican RepCanadaUnited Kingdom
SectorOil & Gas - Oil & GasPowerTelecommunicationsPowerTransportationLeisure & PropertyPower - PowerPowerPowerTelecommunications
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