Proximo Weekly: Debt and power cuts in Bangladesh
Despite all the market uncertainties over the ongoing affordability of gas feedstock for Bangladesh's power sector, international commercial lenders appear to have growing appetite for refinancing what were originally DFI-backed CCGT projects. That freeing up of cash could be good news for the... More
Syndication of Finerge refinancing nearing close
The syndication of the refinancing of Finerge's portfolio of renewables assets in Spain and Portugal is nearing close, with a small stub still to be syndicated, according to a source with knowledge of the transaction. The transaction will also finance the construction of several greenfield... More
Enfinity signs PPA for 112MW Italian solar portfolio
Statkraft has signed a 10-year PPA for supply from a 112MW solar portfolio owned by Enfinity Global in Italy.The portfolio, consisting of three power plants located in Viterbo province, is expected to become operational in the first half of 2024. Last December, Enfinity closed the €142 million... More
Major Bridges gets a major PAB
Rising interest rates and broader economic uncertainty have tightened liquidity for private activity bonds (PABs) in recent months, forcing some financings to be delayed. Despite those pressures, the sponsors of the Major Bridges Package One Project raised $1.8 billion of PABs, making use of bond... More
Spain’s ministry meets deadline for renewable EIAs
The Spanish ministry for the ecological transition has completed environmental impact assessment (EIA) reports for 201 projects ahead of a legally binding deadline.A 2020 law regulating the permitting process enshrined the January 25 deadline into law. Of the 201 EIAs for projects over 50MW that the... More
Estonian pump-storage project receives permits
The Estonian developer Energiasalv has received the necessary permits to build the 550MW Zero Terrain pumped-storage hydropower plant in Paldiski, north-western Estonia. Construction of the country’s first pumped storage project is set to begin in mid-2024. The system will enable 6GWh of... More
EU to take Bulgaria and Slovakia to court over energy directive failures
The European Commission will take Bulgaria and Slovakia to court for failing to pass legislation on the development of renewable energy and greenhouse gas reductionsThe renewable energy directive, adopted by the EU in 2018, sets a legally binding target of at least 32% of renewable energy in total... More
Recently closed deals
| Deal name | Cost in $m | Country | Sector |
|---|---|---|---|
| PT OKI Pulp and Paper - Sinosure Covered Loan | 200 | Indonesia | Pulp and Paper |
| Rose McKay 1286MW Onshore Wind - Financing | 484 | United States | Onshore wind |
| Terra-Gen PV Solar and Battery Storage Portfolio - Financing | 336 | United States | PV solar |
| North Cluster Airports Project (Manaus, Porto Velho, Rio Branco, Boa Vista, Cruzeiro do Sul, Tabatinga and Tefe) - Financing | 386 | Brazil | Airport |
| Appaloosa Solar I Project Financing | 267 | United States | PV solar |
The Path to Net Zero Roundtable
US utilities will bear the main burden of efforts to decarbonise the country’s power grid. Proximo, with support from Leidos, gathered...
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NTT plans to spend $3.5bn on Indian digital infra
NTT, Japan’s biggest telecoms company, is set to invest $3.5 billion into India’s digital infrastructure over the next seven years.The investment will be spread evenly over the period and will include funding the building nine new data centres. NTT is also looking to construct subsea... More
Genera PR awarded Puerto Rican O&M contract
New Fortress Energy subsidiary Genera PR has been awarded a 10-year Operation & Maintenance contract by the Puerto Rico Public-Private Partnerships Authority (P3A).Under the public-private partnership agreement, Genera will operate, maintain, decommission and modernise the thermal power... More
Latest contracts closed by EPC contractors
| Name | Date | Country | Sector |
|---|---|---|---|
| VINCI to build major portion of new Ontario Line subway in Toronto, Canada | 09/11/2022 | Canada | Metro/Underground |
| McDermott Awarded FEED Contract from Hydrostor | 25/10/2022 | Australia | Energy storage (non-battery) |
| Fluor Awarded Contract for Imperial Renewable Diesel Project in Canada | 24/10/2022 | Canada | Oil - Downstream (Refining) |
| McDermott Awards SAFIRA Fabrication Yard Construction Contract | 19/10/2022 | Saudi Arabia | Manufacturing |
| Construction of Hollandse Kust Noord offshore wind farm kicks-off | 18/10/2022 | Netherlands | Offshore wind |
Prairie Switch Wind construction debt signed
Fengate Capital Management reached financial close last month on a tax equity bridge loan and construction debt for its 162.3MW Prairie Switch Wind project.Fengate acquired the ready-to-build project from Triple Oak Power in November 2022. Located near El Campo, the project will include 48 GE 3.4MW... More
Foss & Company closes tax equity investment with Nautilus solar
Foss & Company has closed on the first tranche of a tax equity partnership with Nautilus Solar Energy, on behalf of its affiliate Nautilus US Power Holdco (NUPH).The first tranche totals $42 million of investment for over 44MW of community solar projects spread across the three states of Maine,... More
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