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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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Sweet spots grow for institutions

The sweet spot for institutional debt investors seems to be shifting further and further into the banking mainstream, with some commercial bankers very worried about the growing encroachment. Perhaps they are right to be concerned. The infra debt funds are hungry for business. But the funds themselves have had to adapt to the evolution in the marketplace by taking on higher risk lending to boost their returns.

Daily News

New money in for offshore wind

FTI Consulting published a gloomy commentary on the state of play for offshore wind in the US. “There is currently a cloud hanging over the US offshore wind market, and clear skies are not on the horizon yet,” the company wrote earlier this month. But in the few weeks since the publication clear skies may have emerged.

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 To see the digital version of this report, please...

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...

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

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
Greenalia US Solar and Wind Pipeline ProjectNorth AmericaUnited StatesPower, Power200.000Greenalia SAPEI-GLOBALHOLLAND-KNIGHT, NORTON-ROSE-US
Saudi Tabreed Knowledge Economic City District Cooling Plant ProjectEMEASaudi ArabiaWater & Sewerage30.000Saudi Tabreed DistrictSYNERGY-CONSULT
PPC Renewables Ptolemaida Solar Photovoltaic ProjectEMEAGreecePower394.680PPC Renewables SA
France Battery Cell ProjectEMEAFranceIndustry2,154.200Saft Groupe S.A, Stellantis NV, Mercedes-Benz AG
Germany Battery Cell ProjectEMEAGermanyIndustry2,156.400Stellantis NV, Mercedes-Benz AG, Saft Groupe S.A
Italy Battery Cell ProjectEMEAItalyIndustry2,156.400Stellantis NV, Mercedes-Benz AG, Saft Groupe S.A
Blupine Energy Gujarat Wind Power Plant ProjectAPACIndiaPower151.800Blupine Energy Pvt LtdJ-SAGAR-ASSOC
Gunsynd Solar Farm & Battery Storage ProjectAPACAustraliaPower, Power72.400Skylab Australia Pty Ltd, Manhattan Resources LtdBAKER-MCKENZIE
Dragados Peru Three Transmission Line Assets Portfolio ProjectLATAMPeruTelecommunications188.600Dragados SA
El Sol Battery Center Phase 1 ProjectNorth AmericaUnited StatesPower103.000Invenergy Solar Dvlp LLC
Date
Project NameGreenalia US Solar and Wind Pipeline ProjectSaudi Tabreed Knowledge Economic City District Cooling Plant ProjectPPC Renewables Ptolemaida Solar Photovoltaic ProjectFrance Battery Cell ProjectGermany Battery Cell ProjectItaly Battery Cell ProjectBlupine Energy Gujarat Wind Power Plant ProjectGunsynd Solar Farm & Battery Storage ProjectDragados Peru Three Transmission Line Assets Portfolio ProjectEl Sol Battery Center Phase 1 Project
RegionNorth AmericaEMEAEMEAEMEAEMEAEMEAAPACAPACLATAMNorth America
CountryUnited StatesSaudi ArabiaGreeceFranceGermanyItalyIndiaAustraliaPeruUnited States
SectorPower - PowerWater & SeweragePowerIndustryIndustryIndustryPowerPower - PowerTelecommunicationsPower
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Latest Pipeline Deals

DateProject NameStatusRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
Upper Hunter Hydro ProjectAgreement SignedAPACAustraliaPower0.000Upper Hunter Hydro Pty Ltd
Scarborough Gas New Acquisition ProjectSale Agreement SignedAPACAustraliaOil & Gas1,400.000Woodside Energy Group Ltd
Serra da Serpentina Iron Ore Acquisition ProjectSale Agreement SignedLATAMBrazilMining0.000Vale SA
MunmuBaram Floating Offshore Wind Acquisition ProjectSale Agreement SignedAPACSouth KoreaPower0.000Shell Overseas Investment BV, Hexicon AB
Aquastar Energy Chiayi Aquaculture Solar Power Plant ProjectAnnouncedAPACTaiwanPower275.910Aquastar Energy Corp
Progresiva Tekirdag Wind Power Plant ProjectContract SignedEMEATurkeyPower250.000Progresiva Enerji Yatirimlari
Lightsource BP Texas Solar Portfolio ProjectUnder ConstructionNorth AmericaUnited StatesPower, Power348.000Lightsource Bp Renewable
Light Rail Manila Corp Stake Acquisition ProjectAnnouncedAPACPhilippinesTransportation0.000Ayala Corp
Lordstown Energy Center CCGT Acquisition ProjectSale Agreement SignedNorth AmericaUnited StatesPower1,000.000Clean Energy Future, MIP III, Siemens Financial Services Inc
SynerGen Clovis Solar Energy ProjectAgreement SignedNorth AmericaUnited StatesPower0.000SynerGen Solar LLC
Date
Project NameUpper Hunter Hydro ProjectScarborough Gas New Acquisition ProjectSerra da Serpentina Iron Ore Acquisition ProjectMunmuBaram Floating Offshore Wind Acquisition ProjectAquastar Energy Chiayi Aquaculture Solar Power Plant ProjectProgresiva Tekirdag Wind Power Plant ProjectLightsource BP Texas Solar Portfolio ProjectLight Rail Manila Corp Stake Acquisition ProjectLordstown Energy Center CCGT Acquisition ProjectSynerGen Clovis Solar Energy Project
RegionAPACAPACLATAMAPACAPACEMEANorth AmericaAPACNorth AmericaNorth America
CountryAustraliaAustraliaBrazilSouth KoreaTaiwanTurkeyUnited StatesPhilippinesUnited StatesUnited States
SectorPowerOil & GasMiningPowerPowerPowerPower - PowerTransportationPowerPower
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