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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

DFIs back Engie with €500m

The International Financial Corporation, Asian Infrastructure Investment Bank and Proparco are lending Engie a €500m sustainability-linked green loan for renewable energy in emerging markets. IFC is mobilising capital from seven private credit insurers, bringing its contribution to €340m.

PFI Comment

BTM inside the fence

One way to solve your power problems is to build the capacity yourself, inside your fence. It was a popular solution for industrial and chemical industries even during the days when the power grids were apparently fit for purpose. Now the grids have somewhat fallen behind what is required in the new energy market, it has become a pressing need – to source power to fuel the AI revolution.

PFI Special Report

PFI Global Infrastructure Report 2024

PFI has published its annual Global Infrastructure Report. The report reviews the current state of the debt markets and takes a look at the various up and coming sectors such as data centres and EV charging. There are case studies on recent landmark deals such as R4WO, 5G in Colombia and the Thanaleng dry port in Laos plus the H2GS transition project in Sweden. To see the digital version of this report, please click here To purchase printed copies or a PDF of this report, please email shahid.hamid@lseg.com in Asia Pacific & Middle East and...

US PPs set the pace globally

International investment bank DC Advisory is looking to make the most of the improved environment in Europe and now the US. By Jordan Bintcliffe.

Debt needs to flex with the market

Darryl Murphy, managing director, infrastructure at Aviva Investors, sees flexibility as the winning formula in financing future infrastructure opportunities. By Nick Herbert.

Brightline evolves into investment grade

The Brightline passenger rail system has grabbed the market’s attention since the project’s days as All Aboard Florida. This year, the issuer achieved investment grade status. By Alison Healey

Canadian P3 – Alberta doubles down

The Canadian Public-Private Partnership (P3) market is experiencing a meaningful transformation as provincial ministries demonstrate varying and, in some instances, opposite appetites for the project delivery model. By Bill Woodhead, partner, Theron Davis, senior associate, and Amanda Thompson, summer law student, at BLG, Calgary.

Colombia cruising into the 5G decade

Colombia’s 5G highway programme is muscling in on its older sibling 4G’s project finance territory. Deals are still evolving and maturing. By Nic Stone.

Sustainable cashflow key for data centres

The number of project financing transactions for data centres is rising sharply as the digital infrastructure sector grows. Investors, arrangers and bankers are increasingly looking for innovative and different financing options in meeting the rapidly rising demand for data centres. By Roelof Steenekamp of Fitch Ratings.

Asian DCs – Trends, challenges and opportunities

As digital transformation accelerates, the global demand for sustainable data centres is more pressing than ever. By Sharad Somani, partner and Asia-Pacific head of infrastructure, KPMG*.

Indian data centres – Growing project finance prospects

The data centre industry has experienced immense growth over the past decade, driven by ever-increasing demand for cloud services and expanding use of web-enabled devices globally. By Prasad Hegde, managing director, project and export finance and regional head South Asia, Svati Goyal, director, project and export finance, and Shishir Narsinghani, director, project and export finance, Standard Chartered Bank.

Project finance for social and affordable housing

Safe and affordable housing is central to the security and dignity of every person. While access to shelter is a basic human right, Australia, like many other nations, is experiencing significant housing challenges. By Jan Gabrynowicz, executive director, infrastructure, energy and resources, Brett Ruitenberg, head of infrastructure, energy and resources, and Tarek El-Rakshy, managing director and head of structured finance Australia, SMBC.

Thanaleng dry port – Transforming Laos

In the heart of South-East Asia, a transformative project has reached a pivotal milestone. By James Harris, Scott Palmer and Jonathan Fong at Pinsent Masons MPillay, Singapore, and Kristy Newby at DFDL, Laos.

R4WO – Belgium's largest PPP

The R4WO project, the largest public-private partnership project ever tendered in Belgium, is set to redefine the essence of infrastructure and connectivity in Ghent, Flanders. By Steven Steppe and Renaat Janssen, Rebel, and Filip Tanghe, partner, and Margot De Wolf, associate, A&O Shearman.

H2 Green Steel – Building a decarbonised steel industry

Carbon dioxide emissions from steel are a major agenda point for both governments and environmentally conscious consumers who are committed to reducing their carbon footprints. Christophe Hadjal, Tim Hawk and Matthew Stewart from Societe Generale’s mining, metals and industries team explain how H2 Green Steel has financed the first steel plant that will remove almost all of these emissions from the steel-making process.

Gigafactories – Innovative funding approaches

As technical advisers we know what a successful gigafactory deal looks like. This article will discuss how project finance may play a role in deciding future mass-market technology winners. By Edward Reed, director of advisory services, Geoffroy Chene, technical director of advisory services, and Christopher Constable, consultant. WSP.

Powering the future – Financing EV charging infra

A sector set for increased activity, and therefore a need for financing, is electric vehicle infrastructure. Stefan Barrow, managing director, and Daniel Jaax, vice-president, structured finance, MUFG EMEA, explain why.

On the road to financing EV charging infra

Recent years have seen a lot of activity across the globe in the EV charging infrastructure space, with a number of common themes and challenges emerging. This article will explore these common themes, with a primary focus on the bankability and financing challenges of EV infrastructure projects across Europe and potential solutions to them. By Marianne Anton, counsel, London, Watson Farley & Williams LLP*.

Actis navigating emerging markets infra

Think of high-connectivity telecoms and top-notch infrastructure. If your thoughts do not go to Eastern Europe and global emerging markets, it may be time you thought again. Actis can give a few reasons why. By Cristiana Sandeva.

PFI Yearbook

Foreword

Welcome to the 2024 Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2023 through case studies and the PFI Awards, and look forward into 2024 with a range of themed articles and profiles in the Global section of the book. It was an extremely active year this year in the project finance arena but at the same time it had the feeling of a slowdown. Maybe it depended on where you were, geographically and sectorally. There was no holding back the LNG sector with some truly mega...

Latest Financed Deals

DateProject NameRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
CIS Gaz Copsa Mica Solar & Battery Storage ProjectEMEARomaniaPower, Power22.300Cis Gaz Sa
Norway Hydropower Pipeline ProjectEMEANorwayPower22.220Odel Energy As, Eiffel Transition
Mazara del Vallo Wind Farm ProjectEMEAItalyPower107.980Fabbrica Energie Rinnovabili, Byom Srl
TRE Peru Acquisition ProjectLATAMPeruPower25.000Ashmore Group PLC, Ergon Peru SAC
Ergon Peru Acquisition ProjectLATAMPeruPower25.000Tozzi Green SpA, Ashmore Group PLC
Vicinity Energy Combined Heat & Power Refinancing ProjectNorth AmericaUnited StatesPower935.000Antin IP SAWHITE-CASE, LATHAM-WATKINS
Blackstone Italy Toll Roads Refinancing ProjectEMEAItalyTransportation1,156.150Blackstone Inc
Lindenhof Solar ProjectEMEAGermanyPower67.210Encavis AGCMS, WAT-FARLEY-WIL
Viluppuram To Puducherry Four-Laning Highway ProjectAPACIndiaTransportation80.550Dilip Buildcon Ltd, National Highways Authority
UBS Asset Management Texas Battery Storage Portfolio ProjectNorth AmericaUnited StatesPower, Power621.830Black Mountain Energy Storage, UBS Asset Management AGMILBANK-LLP
Date
Project NameCIS Gaz Copsa Mica Solar & Battery Storage ProjectNorway Hydropower Pipeline ProjectMazara del Vallo Wind Farm ProjectTRE Peru Acquisition ProjectErgon Peru Acquisition ProjectVicinity Energy Combined Heat & Power Refinancing ProjectBlackstone Italy Toll Roads Refinancing ProjectLindenhof Solar ProjectViluppuram To Puducherry Four-Laning Highway ProjectUBS Asset Management Texas Battery Storage Portfolio Project
RegionEMEAEMEAEMEALATAMLATAMNorth AmericaEMEAEMEAAPACNorth America
CountryRomaniaNorwayItalyPeruPeruUnited StatesItalyGermanyIndiaUnited States
SectorPower - PowerPowerPowerPowerPowerPowerTransportationPowerTransportationPower - Power
View Deal

Latest Pipeline Deals

DateProject NameStatusRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
EVgo Nataionwide EV Fast Charging ProjectAnnouncedNorth AmericaUnited StatesTransportation0.000EVgo Services LLC
Sun Tribe South Carolina Solar Portfolio Acquisition ProjectSale CompletedNorth AmericaUnited StatesPower0.000ContourGlobal PLC, Sun Tribe Development LLCCARBON-RED-CAP, EOS-CAPITAL
Reichenbach Solar Plant Acquisition ProjectSale CompletedEMEAGermanyPower0.000KGAL GmbH & Co KG, BayWa re AG
Beckum Solar Plant Acquisition ProjectSale CompletedEMEAGermanyPower0.000Eef Erneuerbare Energien, BayWa re AG
Jembke Solar Plant Acquisition ProjectSale CompletedEMEAGermanyPower0.000Enova Power GmbH, BayWa re AG
Caledonia Mining Services Blanket Mine Solar Plant Acquisition ProjectSale Agreement SignedEMEAZimbabwePower22.350Caledonia Mining Svcs (Pvt)
Scenic Hill Arkansas Solar Portfolio ProjectAnnouncedNorth AmericaUnited StatesPower31.800Scenic Hill Solar LLC
OPRI Italy Solar Portfolio ProjectAnnouncedEMEAItalyPower111.340Ortus Power Resources ItalyAKEREOS-CAPITALGIANNI&ORIGONI, NORTON-ROSE-FUL
Harta Global Energy Acquisition ProjectSale CompletedMalaysiaMalaysiaOil & Gas1,200.000Harta Global Energy Sdn Bhd, Am Capital Partners Sdn Bhd, Touchstone Capital Grp Hldg
Google Chonburi & Bangkok Data Centre & Cloud Region ProjectAnnouncedAPACThailandTelecommunications1,111.450Alphabet Inc
Date
Project NameEVgo Nataionwide EV Fast Charging ProjectSun Tribe South Carolina Solar Portfolio Acquisition ProjectReichenbach Solar Plant Acquisition ProjectBeckum Solar Plant Acquisition ProjectJembke Solar Plant Acquisition ProjectCaledonia Mining Services Blanket Mine Solar Plant Acquisition ProjectScenic Hill Arkansas Solar Portfolio ProjectOPRI Italy Solar Portfolio ProjectHarta Global Energy Acquisition ProjectGoogle Chonburi & Bangkok Data Centre & Cloud Region Project
RegionNorth AmericaNorth AmericaEMEAEMEAEMEAEMEANorth AmericaEMEAMalaysiaAPAC
CountryUnited StatesUnited StatesGermanyGermanyGermanyZimbabweUnited StatesItalyMalaysiaThailand
SectorTransportationPowerPowerPowerPowerPowerPowerPowerOil & GasTelecommunications
View Deal