Refinitiv Project Finance International's Q3 financial league tables for project finance loans and bonds have been published. Global project finance Loans during the first nine months of 2021 totalled US$208bn from 578 deals, an 11% uptick compared to year-earlier figures. The power sector is the most active with US$80.5bn from 371 deals, capturing 38.7% of the market. Within the power sector, renewables recorded total volumes at US$61.4bn with 316 deals, accounting for 76.3% of the industry. Am
The Asian power markets provided good solid business for the power financing markets with risks, albeit important, straightforward to quantify. The market is now evolving with new models emerging to add to those already well tried and well tested. Flexibility will be the key word in the new models and the prize will be opening up a whole new source of demand.
Africa's infrastructure paradox. By Tom Jamieson, partner, Ro Lazarovitch, partner, Jo En Low, partner, and Onis Chukwueke-Uba, associate, Bracewell (UK) LLP and Afua A Koranteng, partner, and Edward Koranteng, partner, Koranteng & Koranteng Legal Advisors.
Data centres provide the core infrastructure that underpins all digital activity across government, business, and community. Without DCs, our economy and society would come to a standstill. By Stijn Grove, managing director of the Dutch Data Center Association.
Interest in the infrastructure sector has never been higher as economies seek to rebuild following the Covid 19 pandemic. But the market is evolving as digital infrastructure, a key economic player in the pandemic, becomes as vital as other forms of infra. The PFI Global Infrastructure Report reviews financing trends in growing sectors such as fibre and data centres and analyses the prospects for the market as whole across various countries around the globe. In addition the report include market
Washington-headquartered data centre provider EdgeConneX considers itself a pioneer in defining and building the so-called edge, a subsector of data centres that are designed to scale with demand and are located in close physical proximity to the people, machines and processes that generate and use data. The close proximity enables better conditions for fast traffic flows, availability and security – and for project financing the assets. By Jordan Bintcliffe.
The global pandemic may have accelerated demand for data infrastructure, but the underlying drivers behind the growth of data centre markets go far beyond short-term factors, explains Laurence Monnier. head of quantitative research, real assets, Aviva Investors.
Asia is seeing increased investment in and demand for data centres. Regarded as essential assets for economies and societies, data centres are now being compared to must-haves such as water supply, electricity, and agriculture. By Sharad Somani, partner and head of infrastructure, Asia-Pacific, and Diptendu Mitra – director, strategy, KPMG Singapore.
With the exponential increase in demand for data consumption, which the Covid-19 pandemic has further strengthened, a reliable and ever-faster fixed and mobile broadband infrastructure has never been more essential. Thanks to its vastly superior features, fibre to the home (FTTH) has emerged as the future-proof technology for fixed internet access compared with DSL networks, cable or even 5G, writes Fabrice Garus, investment director and partner, Vauban Infrastructure Partners.
Financing the construction and launch of a 150Gbps new High Throughput Satellite of the Republic of Indonesia (Satria), the first telecommunication satellite PPP project in Indonesia. By Roland Tan, Hongkong & Shanghai Banking Corporation.
Lenders, borrowers and sponsors alike are driving the rapid take-up of green and sustainability-linked loans in global project finance markets. In the Asia-Pacific region, this positive shift is increasingly prevalent in transport and social infrastructure and is likely to accelerate. The trend is underpinned by strong support from a broad range of market participants, creating a virtuous cycle of demand-supply and loan-volume growth. By Jan Gabrynowicz, director, Energy & Infrastructure Project Finance, Brett Ruitenberg, head of Energy & Infrastructure, Project Finance Australia, and Tarek El Rakshy, head of Project Finance Australia, SMBC.
The vast unmet demand for infrastructure in India, coupled with a pipeline of opportunities running into trillions of dollars, has been attracting investors to Indian infrastructure for more than two decades now. By Simon La Greca, head of Infrastructure Debt Asia, Justin Chan-Sew, principal, Infrastructure Debt Asia and Sharat Goyal, head of India, Infrastructure Equity, AMP Capital.
Allens infrastructure and project finance specialists provide insights into the recent evolution of PPPs in Australia and potential future direction for the PPP model. By David Donnelly, partner, Michael Ryan, partner, Paul Telford, partner and Lisa Zhou, managing associate, Allens.
When the first waves of the Covid-19 pandemic broke across the shores of American business, there was a collective feeling that we had seen this before – not necessarily the public health crisis, the likes of which had not been experienced for a century, but the commercial disruptions and financial dislocations expected to result from such a massive shutdown of the economy. As the pandemic unfolded, however, our worst financial expectations never came to pass. By Charles G Renner, Kansas City-based partner and Will P Nulton, Kansas City-based attorney, Husch Blackwell LLP.
Brazil’s infrastructure minister Tarcisio Gomes de Freitas has predicted there will be R$1trn (US$200bn) of infrastructure concessions for the private sector by the end of 2022. The government is backing up the plan with bold action to bring private capital to the projects, many with added green credentials. By Nic Stone.
A recent downgrade of Colombia’s sovereign rating to junk by S&P is expected to be followed by one from Fitch later this year. Equity and debt investors remain bullish in the country’s highway sector despite the risks. By Nic Stone.
On April 29 2021, the Czech Republic made an important step in its continued efforts to speed up the upgrade and completion of its highway network when the DIVia consortium, comprising on a 50:50 basis, Vinci Highways, the lead company and a subsidiary of Vinci Concessions, and Meridiam, together with its group of lenders, successfully completed the financing of the D4 highway PPP transaction. By Jan Brazda, advisory partner, and Karel Kolar, senior adviser, PwC CEE.
A consortium of Meridiam, Munich Airport and Strabag endured a host of legal challenges and political delays – not to mention a global pandemic – to finance the Sofia Airport public-private partnership (PPP) in time for Christmas. By Peter Collins.
As a pathfinder social infrastructure public-private partnership (PPP) project for the Kingdom of Saudi Arabia and the wider Middle East, the launch of the Tatweer Building Company (TBC) Schools PPP Programme paves the way for a spate of new social infrastructure PPPs across the region. By Sachin Karia, partner, Elliott Sawford, partner, Richard Chamberlain, senior associate, Shane Jaftha, senior associate, and Liva Orleane, associate. Allen & Overy.
The project was the first of its kind – a Saudi Arabian IWP combined with a water transmission pipeline. By Trevor Butcher, partner, projects, finance and restructuring, and Mahima Sodhi, associate, projects, finance and restructuring, at DLA Piper (Middle East) LLP.
ACWA Power has completed a first-of-its-kind US$266m refinancing for an independent water project in the Kingdom of Saudi Arabia though a combination of a privately placed issue of rated project bonds and a commercial bank tranche. By Anil Vijayachandran, director, Haoyong Chen, senior manager, and Abdulwahab Alsalman, manager, in ACWA Power's acquisitions and project finance team.
Save the date – August 31 2026. This is the date by which all the investments set out in the National Recovery & Resilience Plan (PNRR) presented by the Italian Government to Parliament and to the European Commission must be completed. By this deadline, all the projects provided for in the PNRR must not only be defined and authorised but also effectively completed. By Stefano Maria Zappalà and Maria Juan Parra, Juridicum avvocati associati.
Welcome to the 2021 Refinitiv Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2020 through case studies and the PFI Awards, and look forward into 2021 with a range of themed articles and profiles in the Global section of the book.
|Date||Project Name||Region||Country||Sector||Cost (US$m)||Developer||Advisers||Story Link|
|Arapua Solar Power Plant Project||LATAM||Brazil||Power, Power||0.180||Harvest Minerals Ltd|
|Antioquia Hydropower Portfolio Refinancing Project||LATAM||Colombia||Power, Power||92.780||Latin Amer Renewable Energy||HOLLAND-KNIGHT|
|Tocantins Substation Project||LATAM||Brazil||Power||30.070||Energisa SA|
|41.7 MW Encavis Solar Photovoltaic (PV) Power Plant Refinancing Project||EMEA||Italy||Power, Power||102.260||Encavis AG|
|GSRP Solar and Storage Portfolio Project||NA||United States||Power, Power, Power||597.500||Goldman Sachs Renewable Power|
|480 MW CEME 1 Photovoltaic Solar Project||LATAM||Chile||Power, Power||202.500||Generadora Metropolitana SpA, Nogaleda Energia Ltda, Enerstar America Spa||CACCF|
|Los Vientos Natural Gas Plant Project||LATAM||Chile||Power||202.500||Electricite De France S.A, Andes Mining & Energy SA||CACCF|
|AES Clean Energy RCF Project||NA||United States||Power, Power, Power, Power||475.000||AES Corp||LATHAM-WATKINS|
|350 MW Andrea Pradesh Solar PV Acquisition Project||APAC||India||Power, Power||270.560||Adani Green Energy Power, SB Energy Holdings Ltd|
|Invenergy Onshore Wind Power Portfolio Project||APAC||Japan||Power, Power||150.000||Invenergy Renewables LLC|
|Date||Project Name||Status||Region||Country||Sector||Cost (US$m)||Developer||Advisers||Story Link|
|48 MW Broken Cross Wind Farm Acquisition Project||Announced||EMEA||United Kingdom||Power, Power||0.000||Baywa R.E. Ag, Brockwell Energy Ltd|
|20 MW Hinojosa Solar power plant Acquisition Project||Announced||EMEA||Spain||Power, Power||0.000||Korkia Oy, Suma Capital SGECR SA|
|500 MW SECI India Battery Energy Storage System Project||In Tender||APAC||India||Power, Power||0.000||Solar Energy Corp Of India Ltd|
|Ouagadougou-Donsin International Airport PPP Project||Contract Signed||EMEA||Burkina Faso||Transportation||180.000||Republic Of Burkina Faso|
|50 MW Roaring Hill Energy Storage Acquisition Project||Announced||EMEA||United Kingdom||Power, Power||0.000||TagEnergy, Renewable Energy Systems Ltd|
|34 MWp Mahoba Ground-Mounted Solar Power Plant Acquisition Project||Announced||APAC||India||Power, Power||0.000||Technique Solaire SARL, Jakson Group|
|UK Liberty Steel Unit Project||Announced||EMEA||United Kingdom||Industry||67.970||GFG Alliance Ltd|
|China Pilot Plant Project||Agreement Signed||APAC||China||Leisure & Property||0.000||Cimc Offshore Engineering|
|600 MW CCE Solar 14 Italy Photovoltaic (PV) Plants Financing Project||Announced||EMEA||Italy||Power, Power||0.000||Cce Solar Invest Gmbh||WATSON-FARLEY, DENTONS, WOLF-THEISS|
|2 GW Global Green Energy Manufacturing Centre Stage One Project||Announced||APAC||Australia||Industry||83.280||Fortescue Future Inds|