PFI Yearbook 2022

Welcome to the 2022 Project Finance International (PFI) Yearbook. The yearbook is our annual publication in which we look at the events of 2021, through case studies and the PFI Awards, and look forward into 2022 with interviews and articles in the Global section of the book.

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Download and read the PFI Roll of Honour 2021 PDF


Global Awards

Bank of the Year – SMBC SMBC has emerged over the last few years as a global powerhouse in the project finance space, with a leading presence in all markets. It has moved some way ahead of its rivals this year with a loan market share of 5.6% across 125 deals thus far. On the bonds side it is well...

Solar growth faces headwinds
Wind – Weathering the storm
Competitive H2 production
CCS – Understanding the basics
The rising tide of LNG infra
Offshore wind debt 15 years on
Infrastructure and the 3Ds
Sempra’s new groove
Meridiam at the forefront
Right place, right time
Crayhill accelerates the developers
Enlight eyes merchant renewables


Americas Awards

Bank of the Year – MUFG MUFG was the top Americas project finance bank for the second year in a row, closing more than US$4.6bn across 60 deals by the end of Q3. The bank played a leading role in some of the year’s largest, most difficult and innovative financings in the bank, bond, and Term Loan...

Vineyard starts the offshore decade
US energy storage breakout year
Flood diversion unites P3 and ESG
US infra – States in play
First hydrogen to power project


Asia-Pacific Awards

Bank of the Year – HSBC HSBC, one of the largest banking institutions, has remained active during the year and was at the forefront of activities in the energy and infrastructure markets in Asia-Pacific, concluding transactions as an arranger or as a financial adviser. The bank has completed about...

North East Link – Key insights
Financing Australia's plastic recycling
Lotus blossoms in the wind
Pulau Indah – Klang Valley power
Adani goes international


Europe Awards

Bank of the Year – Societe Generale Societe Generale had a very strong year in Europe this year, well ahead of its main rivals in terms of deals done and, crucially, in terms of a growing range of unique bespoke financings that will, hopefully, become mainstream one day. It has lead-arranged 50...

Middle East & Africa Awards
Masdar doubles up and down
Jubail 3B IWP goes alone
Warsan WtE sets a milestone
Kalyon finances first YEKA deal
Orange Polska chases convergence

Back Section

Let's get back in

We climbed out of Covid in 2021 and then we climbed back in. At the time of writing the chief medical officer in England is suggesting we will be out of it by mid 2023 when a new all encompassing vaccine is produced. The logic being presumably Covid can be defeated just as the common cold and the...