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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

BNetzA awards solar/storage

Germany's Federal network agency Bundesnetzagentur (BNetzA) has awarded 587MW of solar and storage hybrid projects across 50 projects in its latest innovation tender. BNetzA received 154 bids totalling 1.856GW of capacity.

PFI Comment

Nuclear questions

Financing nuclear power stations has become one of the eternal questions. The delays, the enormous initial costs, the cost overruns and lingering safety concerns have all been well documented. The sector was given a shot in the arm when, for some at least, it started to be seen as a green generator of power. Perhaps an even bigger shot now is the sector's potential to provide baseload reliable power in the data centre era.

PFI Special Report

PFI Global Infrastructure Report 2024

PFI has published its annual Global Infrastructure Report. The report reviews the current state of the debt markets and takes a look at the various up and coming sectors such as data centres and EV charging. There are case studies on recent landmark deals such as R4WO, 5G in Colombia and the Thanaleng dry port in Laos plus the H2GS transition project in Sweden. To see the digital version of this report, please click here To purchase printed copies or a PDF of this report, please email shahid.hamid@lseg.com in Asia Pacific & Middle East and...

US PPs set the pace globally

International investment bank DC Advisory is looking to make the most of the improved environment in Europe and now the US. By Jordan Bintcliffe.

Debt needs to flex with the market

Darryl Murphy, managing director, infrastructure at Aviva Investors, sees flexibility as the winning formula in financing future infrastructure opportunities. By Nick Herbert.

Brightline evolves into investment grade

The Brightline passenger rail system has grabbed the market’s attention since the project’s days as All Aboard Florida. This year, the issuer achieved investment grade status. By Alison Healey

Canadian P3 – Alberta doubles down

The Canadian Public-Private Partnership (P3) market is experiencing a meaningful transformation as provincial ministries demonstrate varying and, in some instances, opposite appetites for the project delivery model. By Bill Woodhead, partner, Theron Davis, senior associate, and Amanda Thompson, summer law student, at BLG, Calgary.

Colombia cruising into the 5G decade

Colombia’s 5G highway programme is muscling in on its older sibling 4G’s project finance territory. Deals are still evolving and maturing. By Nic Stone.

Sustainable cashflow key for data centres

The number of project financing transactions for data centres is rising sharply as the digital infrastructure sector grows. Investors, arrangers and bankers are increasingly looking for innovative and different financing options in meeting the rapidly rising demand for data centres. By Roelof Steenekamp of Fitch Ratings.

Asian DCs – Trends, challenges and opportunities

As digital transformation accelerates, the global demand for sustainable data centres is more pressing than ever. By Sharad Somani, partner and Asia-Pacific head of infrastructure, KPMG*.

Indian data centres – Growing project finance prospects

The data centre industry has experienced immense growth over the past decade, driven by ever-increasing demand for cloud services and expanding use of web-enabled devices globally. By Prasad Hegde, managing director, project and export finance and regional head South Asia, Svati Goyal, director, project and export finance, and Shishir Narsinghani, director, project and export finance, Standard Chartered Bank.

Project finance for social and affordable housing

Safe and affordable housing is central to the security and dignity of every person. While access to shelter is a basic human right, Australia, like many other nations, is experiencing significant housing challenges. By Jan Gabrynowicz, executive director, infrastructure, energy and resources, Brett Ruitenberg, head of infrastructure, energy and resources, and Tarek El-Rakshy, managing director and head of structured finance Australia, SMBC.

Thanaleng dry port – Transforming Laos

In the heart of South-East Asia, a transformative project has reached a pivotal milestone. By James Harris, Scott Palmer and Jonathan Fong at Pinsent Masons MPillay, Singapore, and Kristy Newby at DFDL, Laos.

R4WO – Belgium's largest PPP

The R4WO project, the largest public-private partnership project ever tendered in Belgium, is set to redefine the essence of infrastructure and connectivity in Ghent, Flanders. By Steven Steppe and Renaat Janssen, Rebel, and Filip Tanghe, partner, and Margot De Wolf, associate, A&O Shearman.

H2 Green Steel – Building a decarbonised steel industry

Carbon dioxide emissions from steel are a major agenda point for both governments and environmentally conscious consumers who are committed to reducing their carbon footprints. Christophe Hadjal, Tim Hawk and Matthew Stewart from Societe Generale’s mining, metals and industries team explain how H2 Green Steel has financed the first steel plant that will remove almost all of these emissions from the steel-making process.

Gigafactories – Innovative funding approaches

As technical advisers we know what a successful gigafactory deal looks like. This article will discuss how project finance may play a role in deciding future mass-market technology winners. By Edward Reed, director of advisory services, Geoffroy Chene, technical director of advisory services, and Christopher Constable, consultant. WSP.

Powering the future – Financing EV charging infra

A sector set for increased activity, and therefore a need for financing, is electric vehicle infrastructure. Stefan Barrow, managing director, and Daniel Jaax, vice-president, structured finance, MUFG EMEA, explain why.

On the road to financing EV charging infra

Recent years have seen a lot of activity across the globe in the EV charging infrastructure space, with a number of common themes and challenges emerging. This article will explore these common themes, with a primary focus on the bankability and financing challenges of EV infrastructure projects across Europe and potential solutions to them. By Marianne Anton, counsel, London, Watson Farley & Williams LLP*.

Actis navigating emerging markets infra

Think of high-connectivity telecoms and top-notch infrastructure. If your thoughts do not go to Eastern Europe and global emerging markets, it may be time you thought again. Actis can give a few reasons why. By Cristiana Sandeva.

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
XLCC Hunterston Subsea HVDC Cable Manufacturing Facility ProjectEMEAUnited KingdomIndustry39.900XLCC Ltd
Bermondsey ProjectEMEAUnited KingdomLeisure & Property784.200Greystar Re Partners LLC
Muktagacha Solartech Bangladesh Solar projectAPACBangladeshPower15.500Muktagacha Solartech Energy
Pine Forest Solar + Battery Storage ProjectNorth AmericaUnited StatesPower, Power665.000Clearway Energy Group LLC
Catalina Solar ProjectNorth AmericaUnited StatesPower112.900Pine Gate Renewables LLCMCDERMOTT-WILL, WINSTON-STRAWN
Hirohara Battery Energy Storage System (BESS) ProjectAPACJapanPower, Power53.980Eku Energy Japan KKMORI-HAMA-MATSU, NAG-OHNO-TSU
Parq Energy Germany Solar PV Portfolio ProjectEMEAGermanyPower22.260Parq Energy GmbHHOGAN-LOVELLS
Eversource Revolution Offshore Wind Acquisition ProjectNorth AmericaUnited StatesPower1,050.000Eversource Energy, Global Infrastructure Mgmt LLC, Orsted A/SGS, MIZUHO-FINANVINSON-ELKINS, MILBANK-LLP, ROPES-GRAY
Eversource South Fork Wind Acquisition ProjectNorth AmericaUnited StatesPower1,050.000Eversource Energy, Global Infrastructure Mgmt LLC, Orsted A/SGS, MIZUHO-FINANVINSON-ELKINS, MILBANK-LLP, ROPES-GRAY
Calypso ProjectEMEAFranceTransportation427.810CAA, Swiss Life(Belgium), CNP Assurs SA-CNP Patrimoine, Sogecap SACREDIT-AGRI-CIB
Date
Project NameXLCC Hunterston Subsea HVDC Cable Manufacturing Facility ProjectBermondsey ProjectMuktagacha Solartech Bangladesh Solar projectPine Forest Solar + Battery Storage ProjectCatalina Solar ProjectHirohara Battery Energy Storage System (BESS) ProjectParq Energy Germany Solar PV Portfolio ProjectEversource Revolution Offshore Wind Acquisition ProjectEversource South Fork Wind Acquisition ProjectCalypso Project
RegionEMEAEMEAAPACNorth AmericaNorth AmericaAPACEMEANorth AmericaNorth AmericaEMEA
CountryUnited KingdomUnited KingdomBangladeshUnited StatesUnited StatesJapanGermanyUnited StatesUnited StatesFrance
SectorIndustryLeisure & PropertyPowerPower - PowerPowerPower - PowerPowerPowerPowerTransportation
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Latest Pipeline Deals

DateProject NameStatusRegionCountrySectorCost (US$m)DeveloperAdvisersStory Link
Agua dos Vales Sanitation PPP ProjectAnnouncedLATAMBrazilWater & Sewerage623.590Minas Gerais, Codemge, Secretaria De Estado De
Kolopetaja Wind Plant ProjectStudy & DesignEMEAFinlandPower0.000Energiequelle GmbH
Penso Power UK Acquisition ProjectSale Agreement SignedEMEAUnited KingdomPower0.000Penso Power Ltd, BW ESSCMS, BIRD-BIRD
Maryland & Illinois Community Solar Rooftop Portfolio ProjectAnnouncedNorth AmericaUnited StatesPower0.000Solar Landscape LLC, Walmart Inc
Centersquare Data Center Portfolio ProjectAnnouncedNorth AmericaUnited StatesTelecommunications0.000Ctrsq Invest Mgmt Hldg Inc
Cameron County Battery Energy Storage System ProjectAnnouncedNorth AmericaUnited StatesPower146.500
Rota do Sol Solar Acquisition ProjectSale CompletedLATAMBrazilPower3.750Brookfield Renewable Partners, Enerside Energy SA
Vestavind Offshore Wind ProjectAnnouncedEMEANorwayPower3,274.850Vestavind Kraft AS
IPI Partners Data Center Acquisition ProjectSale Agreement SignedNorth AmericaUnited StatesTelecommunications1,000.000IPI Partners LLC
Orsted Acquisition ProjectSale CompletedEMEADenmarkPower, Power, Power2,500.000Equinor ASACITI
Date
Project NameAgua dos Vales Sanitation PPP ProjectKolopetaja Wind Plant ProjectPenso Power UK Acquisition ProjectMaryland & Illinois Community Solar Rooftop Portfolio ProjectCentersquare Data Center Portfolio ProjectCameron County Battery Energy Storage System ProjectRota do Sol Solar Acquisition ProjectVestavind Offshore Wind ProjectIPI Partners Data Center Acquisition ProjectOrsted Acquisition Project
RegionLATAMEMEAEMEANorth AmericaNorth AmericaNorth AmericaLATAMEMEANorth AmericaEMEA
CountryBrazilFinlandUnited KingdomUnited StatesUnited StatesUnited StatesBrazilNorwayUnited StatesDenmark
SectorWater & SeweragePowerPowerPowerTelecommunicationsPowerPowerPowerTelecommunicationsPower - Power - Power
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