Local content concerns pose a challenge for the runaway global offshore wind farm boom. Local content rules show up a contradiction whereby governments want to build up local supply chains and then export their knowledge around the world to other supply chains. Clearly not everyone can do that particularly as bidding for new projects has become so very competitive.
After another contentious election amid a looming global health crisis, experts say infrastructure investment is an area where both parties must bridge the divide. And all eyes will soon be on President-Elect Joe Biden as he leads efforts to strike a bipartisan infrastructure deal. Biden’s plan to Build Back Better includes modernising highways, roads, and bridges, and investing in electrical vehicle, mass transit and high-speed rail infrastructure – but experts say the new Democratic administration will face challenges to implementing some of its infrastructure targets in the face of mounting climate-related and man-made stressors. By Patrick Harder, chair of the infrastructure group, and Alexander Bulkin, an associate in the infrastructure group, Nossaman.
On November 26 2020, the Dogger Bank Wind Farm owners, SSE Renewables and Equinor, announced financial close on the first two phases of the project, Dogger Bank A and B. The £5.5bn senior financing is a landmark transaction, which is non-recourse except for the guarantees for the equity commitments, and represents the largest offshore wind project financing to-date globally. It is particularly noteworthy for having been completed on schedule, notwithstanding the disruptions caused by Covid 19. By Oliver Cass, finance director, Dogger Bank Wind Farm, Mark Muldowney, managing director and Miruna Onofrei, director, BNP Paribas.
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, pl
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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|
|Las Chispas Silver-Gold Project||LATAM||Mexico||Mining, Mining||120.000||SilverCrest Metals Inc|
|Artigues et Ollieres Wind Farms Acquisition Project||EMEA||France||Power, Power||104.540||Eco Delta SA, NTR RE Income Fund II|
|25 MW Emerald Solar Energy Project||LATAM||Dominican Rep||Power, Power||45.000||Administradora De Fondos De||AKIN-GUMP, HUNTON-ANDREWS|
|13.7MW SR Investimenti Solar PV Portfolio Refinancing Project||EMEA||Italy||Power, Power||31.600||S+R Investimenti e Gestioni|
|Capstone WPD Wind Portfolio Acquisition Project||NA||Canada||Power, Power||95.900||Capstone Infrastructure Corp||MCCARTHY-TET, TORYS|
|Gevens Wind Farm Acquisition Project||EMEA||United Kingdom||Power, Power||13.530||Blackfinch Investments Ltd||IN-HOUSE, TLT|
|Bradley Wind Farm Acquisition Project||EMEA||United Kingdom||Power, Power||16.670||Blackfinch Investments Ltd||IN-HOUSE, TLT|
|Boardinghouse Wind Farm Project||EMEA||United Kingdom||Power, Power||14.490||Thrive Renewables Plc||IN-HOUSE, TLT|
|Ventos de Santa Amelia Project||LATAM||Brazil||Power, Power||51.600||Casa dos Ventos Energias, Perfin Investimentos Ltda||BSBRA|
|Green Genius Biogas Project||EMEA||Lithuania||Oil & Gas||27.060||Green Genius Lithuania UAB||PWCDENTONS|
|Date||Project Name||Status||Region||Country||Sector||Cost (US$m)||Developer||Advisers||Story Link|
|Zhejiang Ethylene Plant Project||Announced||APAC||China||Petrochemicals||339.500|
|Pingtung County Hospital Project||Announced||APAC||Taiwan||Leisure & Property||500.280||E-Da Hospital|
|Horizeo Solar Farm Project||Announced||EMEA||France||Power, Power||1,215.700||Neoen SA, Engie SA|
|EDP Renovaveis Wind Portfolio Project||Announced||EMEA||Portugal||Power, Power||151.960||EDPR|
|Masshylia Hydrogen Production Project||Announced||EMEA||France||Water & Sewerage||0.000||Engie SA, Total SA|
|Desfina Onshore Wind Farms Acquisition Project||Announced||EMEA||Greece||Power, Power||0.000||Tesseract Co|
|Daystar Power Expansion Project||Announced||EMEA||Nigeria||Power, Power||38.000||Daystar Power Grp|
|Vale do Parana Albioma Biomass-Fuelled Cogeneration Unit Project||Announced||LATAM||Brazil||Power, Power||0.000||Albioma|
|Sao Vitor Wind Farm Project||Announced||LATAM||Brazil||Power, Power||0.000||Patria Investimentos Ltda|
|Bateman Gold Project||Announced||NA||Canada||Mining||85.860||Battle North Gold Corp||CUTFIELD-FREEMN|