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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

FEPA – Exciting offshore markets

The Philippines is one of the next exciting markets for offshore wind energy, said Ray Mclaughlin, the head of capital markets of Mainstream Renewable Power, one of the panel members for offshore wind energy at PFI’s 25th conference on Financing Energy Projects in Asia (FEPA) 2020 held last week.

PFI Comment

Forever blowing bubbles

There is a song linked to a football club housed on the wrong side of the Thames about blowing bubbles. Total's CEO Patrick Pouyanne has advised his staff to stop blowing bubbles in the renewables space in order to avoid a few own goals. But even VAR cannot decide if those rushing into the new green arenas are winners or losers, or even buyers or sellers.

PFI Special Report

PFI Global Infrastructure Report 2020

The global infrastructure finance market is coping with a range of new realities following the Covid-19 pandemic. PFI has published its 2020 Global Infrastructure Supplement as the market starts to understand the long term consequences. The report looks at the new data and telecoms boom, case studies a range of infra deals financed this year, looks at new sectors and opportunities and reviews the impact of Covid-19 on the global infra finance sector. To see the digital version of this report,

How data infrastructure saved 2020

Recent months have made 2020 look as though it had been cancelled outright. Like many people across Europe, I’ve only left my home in the Oxford countryside to make trips to the local post office, carefully sporting the latest fashion of surgical gloves and an anti-viral mask. Dreams of holidays to get some desperately needed vitamin D in southern France are distant memories; as are visits to family or friends. Others throughout the UK may have held back a grimace as breaking news pinged through to their phones last week – Schools won’t reopen until September. By Jordan Bintcliffe.

FTTH sector provides infra boost

There have been a whole range of fibre to the home (FTTH) deals in the months leading up to lockdown and it is not going to stop any time soon. By Laurent Chabot, co-head of Infrastructure Finance, Paris, and Jonathan Tweed, head of TMT Finance, London, Societe Generale.

DCPCs bridge the beltway gap

On April 9 2020, a private contractor was able to raise US$281m of proceeds in the US municipal bond market to finance the construction of the Lincoln South Beltway, a new 11-mile east-west highway south of Lincoln, Nebraska. By Barney Allison, partner and Brandon Nguyen, associate, Nossaman LLP.

Ontario Line charts path to reality

The massive project has the potential to transform Toronto transit but faces formidable obstacles. By Alison Healey.

Hokkaido 7 – The financing

The bundled Hokkaido 7 Airport Concession Project reached financial close on December 19 2019, becoming the largest ever project finance transaction in Japan. By Taro Kanayama, senior vice-president, Project Finance Department, Mizuho Bank, Japan.

A3 – Germany’s largest motorway PPP

In April, financial close on the 30-year public-private partnership (PPP) of the A3 motorway in Germany was reached by A3 Nordbayern GmbH & Co KG, a project company whose shareholders are Eiffage SA and Johann Bunte Bauunternehmung GmbH & Co KG. By Robert Hofbauer, counsel, Finance & Projects, Torsten Pokropp, partner, Head of German Finance & Projects Practice, Frank Roth, partner, Public Procurement, and Lars Warrink, and Goran Nilsson, directors, Structured Finance Office for EMEA, MUFG Bank Ltd.

The construction infra problem

Mega infrastructure PPP projects in Melbourne, Sydney and New Zealand are running into problems, with sponsors and contractors at each other’s throats and in the courts to resolve issues arising from unexpected difficulties during construction. By John Arbouw.

Energy system P3s at US universities

The use of public-private partnerships by public universities in the United States is not an entirely new or recent concept. P3s have become an established method for procuring student accommodation projects, with at least eight such projects reaching close last year alone. By Dolly Mirchandani, partner, and Claire Watson, counsel, White & Case LLP.

Brazil’s bright infrastructure spot

With a maligned leader and as one of the world’s worst pandemic hot-spots, Brazil is looking to infrastructure to brighten the gloom. By Nic Stone.

Kazakhstan’s health PPP programme

In this article we give an overview of Kazakhstan’s public-private partnership (PPP) law and its application to the healthcare sector in Kazakhstan. By Ayesha K Waheed, partner, Asem Bakenova, international partner, Nur-Sultan, and Daniyar Zhumakhanov, associate, Almaty, Morgan Lewis.

Turkish health PPPs in a pandemic

The effects of the Covid-19 pandemic have had a considerable impact on Turkish health public-private partnership projects and it is worth examining the challenges that have been created as a result. By Devrim Ergun, partner, and Nigar Özbek, senior associate, Çakmak Avukatlik Ortakligi.

Achieving AfCFTA’s infra objectives

The ratification of the Africa Continental Free Trade Agreement is a milestone that has been celebrated across the continent. By Banji Fehintola CFA, senior director and head of treasury and financial institutions at Africa Finance Corporation.

Asset recycling – Leveraging infra capital

The concept of asset recycling has emerged as a noteworthy option to unlock private and institutional investment towards infrastructure assets. By Sharad Somani, partner and the ASPAC head of infrastructure, and Jun Yan, manager, with KPMG Singapore’s Infrastructure Advisory practice.

Airport P3s – Looking down the runway

After a slow start, airport public-private partnerships (P3s) were finally starting to find some traction in the US in recent years, with several significant projects reaching financial close. By Roderick Devlin, partner and Angelica Valencia, partner, Nixon Peabody LLP.

Airports – A long ramp-up recovery period

It is very difficult to understand how the future will evolve in many sectors, given the current market conditions, but particularly for economic infrastructure assets such as airports. By project financier Ian Dixon.

Covid and infra – Challenges and opportunities

Infrastructure stakeholders around the globe are assessing what challenges and opportunities the coronavirus presents for the sector. By Richard Abadie, PwC, Global Capital Projects & Infrastructure Leader, and Yvonne Welsh, PwC, senior manager, Capital Projects & Infrastructure.

Covid impact on Asian infra

The impact of the coronavirus pandemic creates risks that are far beyond what has been experienced in the infrastructure and project finance sectors in many decades. The wide range of transactions, from enterprise to project structures, single-asset to multi-asset, demand-based to contracted, and single jurisdiction to multi-jurisdiction provide for a wide variety of potential effects. By Sajal Kishore, senior director and head of Asia-Pacific Infrastructure and Project Finance, Fitch Ratings.

PFI Yearbook

PFI Yearbook 2020

Welcome to the 2020 Refinitiv Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2019, through case studies and the PFI Awards, and look forward into 2020 with a range of articles in the Global section of the book.

Latest Financed Deals

DateProject NameRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
Marlim Floating Production and Offloading Vessel Oil Field ProjectLATAMBrazilOil & Gas969.000Marubeni Corp, Mitsui & Co Ltd, Mitsui Osk Lines Ltd, MODEC Inc
Valorem Renewable Assets Refinancing ProjectEMEAFrancePower, Power, Power, Power423.360Valorem SASASTRIS-FINLINKLATERS, WAT-FARLEY-WIL
SJ AB High Speed Trains ProjectEMEASwedenTransportation168.290SJ AB
Mozambique LNG ProjectEMEAMozambiqueOil & Gas20,000.000Mitsui E&P Mozambique Area 1, Total SA, Rovuma Lng, Ongc Videsh Ltd, Bharat Petroresources Ltd, Pttep Mozambique Area 1 Ltd, Beas Rovuma Energy MozambiqueSOC-GEN, CREDIT-AGRICOLELINKLATERS, LATHAM-WATKINS, KING-SPALDING, WHITE-CASE, VIEIRA, JLA-ADVOGADOS
Aspas Solar Photovoltaic ProjectEMEASpainPower, Power50.380
Kakolanmaki Wastewater Treatment ProjectEMEAFinlandWater & Sewerage10.540Turun Seudun Puhdistamo Oy
PCH Lajes ProjectLATAMBrazilPower, Power3.560Light SA
NIMH Solar Portfolio ProjectNAUnited StatesPower, Power209.600Clearway Energy Group LLCMILBANK-LLP
Bahia Transmission Line and Feira de Santana Substation ProjectLATAMBrazilPower, Transportation4.230LC Energia Holding S.ASTOCCHE
Piaui Transmission Line and Chapada I Substation ProjectLATAMBrazilPower, Transportation3.530LC Energia Holding S.ASTOCCHE
Date
Project NameMarlim Floating Production and Offloading Vessel Oil Field ProjectValorem Renewable Assets Refinancing ProjectSJ AB High Speed Trains ProjectMozambique LNG ProjectAspas Solar Photovoltaic ProjectKakolanmaki Wastewater Treatment ProjectPCH Lajes ProjectNIMH Solar Portfolio ProjectBahia Transmission Line and Feira de Santana Substation ProjectPiaui Transmission Line and Chapada I Substation Project
RegionLATAMEMEAEMEAEMEAEMEAEMEALATAMNALATAMLATAM
CountryBrazilFranceSwedenMozambiqueSpainFinlandBrazilUnited StatesBrazilBrazil
SectorOil & GasPower - Power - Power - PowerTransportationOil & GasPower - PowerWater & SeweragePower - PowerPower - PowerPower - TransportationPower - Transportation
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Latest Pipeline Deals

DateProject NameStatusRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
Total Solar Photovoltaic Portfolio ProjectAnnouncedEMEASpainPower, Power0.000Total SACLIFFORD-CHANCE
Sebastopol Solar Farm ProjectAnnouncedEMEAUnited KingdomPower, Power0.000Fotowatio Renewable Ventures
40MW Manje Solar PV Farm ProjectIn TenderEMEAMozambiquePower, Power0.000
40MW Dondo Solar PV Farm ProjectIn TenderEMEAMozambiquePower, Power0.000
Fortum District Heating Assets Sale ProjectAnnouncedEMEAPolandPower, Power1,764.000Fortum Oyj
County Offaly Battery Storage Systems ProjectAnnouncedEMEAIreland-RepPower, Power123.480Hanwha Energy Corp, Javah Energy Holdings LtdSYNERGY-CONSULTARTHUR-COX
Lekela Grid Scale Battery Storage Facility ProjectAnnouncedEMEASenegalPower, Power0.000Lekela Power B.V, Senelec
Orsted and Yara Green Hydrogen Electrolyser Plant ProjectAnnouncedEMEANetherlandsPower0.000Yara International ASA, Orsted A/S
Luxbon Solar PV Portfolio Acquisition ProjectAnnouncedEMEAPortugalPower, Power0.000Finerge SA, Hanwha Q Cells Co LtdLINKLATERS, VIEIRA
Galloper Offshore Wind Farm Expansion ProjectAnnouncedEMEAUnited KingdomPower, Power0.000RWE Power AG, UK Green Investment Bank PLC, Siemens AG, Sumitomo Corp Asia Pte Ltd
Date
Project NameTotal Solar Photovoltaic Portfolio ProjectSebastopol Solar Farm Project40MW Manje Solar PV Farm Project40MW Dondo Solar PV Farm ProjectFortum District Heating Assets Sale ProjectCounty Offaly Battery Storage Systems ProjectLekela Grid Scale Battery Storage Facility ProjectOrsted and Yara Green Hydrogen Electrolyser Plant ProjectLuxbon Solar PV Portfolio Acquisition ProjectGalloper Offshore Wind Farm Expansion Project
RegionEMEAEMEAEMEAEMEAEMEAEMEAEMEAEMEAEMEAEMEA
CountrySpainUnited KingdomMozambiqueMozambiquePolandIreland-RepSenegalNetherlandsPortugalUnited Kingdom
SectorPower - PowerPower - PowerPower - PowerPower - PowerPower - PowerPower - PowerPower - PowerPowerPower - PowerPower - Power
View Deal