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19 December 2017
in
Power

Chasing paper: PPC’s receivables securitisation

The restructuring of Greece’s power sector continues with a novel proposal to monetise PPC customer receivables. If the deal happens, it is likely to be one of the first...

14 December 2017
in
Transport

Brightline: Take your seats

With few exceptions, US travellers have little love for inter-city rail travel. Having pulled off a $600 million non-investment grade PAB issue for its Brightline private...

11 December 2017
in
Power, Renewables

Batteries not included: Is energy storage bankable?

A clutch of Canadian battery storage deals suggests that non-recourse financing is available for developers – but at a price.

01 December 2017
in
Transport

Nacala Logistic Corridor: a private-private partnership

The largest infrastructure project financing in Africa to date, the complex dual-jurisdiction set of agreements for the $2.7 billion Nacala rail financing has lessons for...

21 November 2017

Islamic PPPs: What's holding the market back?

The World Bank and the Islamic Development Bank have issued a report highlighting the potential for Islamic finance in PPP. And untapped pools of capital could boost...

03 November 2017

Corti Wind: A step nearer to non-recourse for Argentina’s RenovAR

Pampa Energia guaranteed the first international financing for a project under Argentina’s RenovAR programme. But the hybrid project structure is strong enough to support...

26 October 2017

EKF: Out of Teghout

Denmark’s EKF has cancelled a loan for the Teghout open pit copper mine in Armenia on environmental grounds. Is this a signal for ECAs to get tougher?

16 October 2017

Top Trump ironies: Donald has a plan

Forget twitter and the crassness, Donald Trump has an infrastructure plan that the PPP industry actually likes. But is it workable, and would it pass congress?

02 October 2017
in
Oil & gas

Sea Lion: Premier and Rockhopper take a different approach

Rockhopper and Premier Oil, the independent operators of the Sea Lion oil field offshore the Falkland Islands, have approached UKEF for a direct loan. Why don’t more...

22 September 2017
in
Power

Nuclear waste with an Opic wrap

An Opic-wrapped Energoatom nuclear waste storage facility project bond is nearing launch. The enhanced bond will be structured around Ukrainian risk, nuclear risk, and...

20 September 2017

Zuma Energia: Post-reform Mexican renewables

Lenders have responded strongly to the new breed of power purchase agreements on offer in Mexican renewables. But the market is only likely to get more merchant. Proximo...

15 September 2017

Inside Tajikistan’s baffling Rogun bond issue

Tajikistan has startled bond investors with its debut Eurodollar issue – a deal designed to finance construction of the 3600MW Rogun hydroelectric power project. But the...

25 August 2017

I-69: The availability PPP that couldn’t

The US state of Indiana has terminated the contract and paid off the bond debt for the I-69 PPP. Was picking a shaky contractor bad luck or bad judgement? And what...

28 July 2017

Back to the future: Refinancing launches for Indonesia’s Paiton

Indonesia’s economy is in rude health. Which means time for a refinancing for Paiton, the coal-fired power plant that always captures the zeitgeist in Indonesian power.

07 July 2017

Toxic gas?: PJM power finance moves into a new phase

After a burst of greenfield and brownfield financings in the US PJM power pool - a boom fuelled by cheap gas - recent capacity auctions point to a slowdown. Some bankers...

27 June 2017

Etisalat Nigeria: A lesson in towering currency risk

With Etisalat Nigeria ownership on the verge of being handed over to 13 banks, have African mobile and tower operators taken on more FX risk than they can handle?

19 June 2017

Smart tracking: ECA and DFI cooperation growing

ECAs and DFIs have long worked together to compensate for poor liquidity in emerging markets - although given their different mandates and loan mechanisms, multi-sourced...

25 May 2017

Forever bursting bubbles: Calling a top in infrastructure valuations

The sheer volume of equity chasing infrastructure assets is pushing up valuations. But debt markets have a much more limited role in driving them up. Is the infra market...

09 May 2017

Northland Power: Gemini and beyond

80bp saved on the margin and minimal costs compared to a new money refinancing, the restructuring of the Gemini offshore wind deal vindicates Northland Power’s original...

08 May 2017

US LNG: Golden Pass or slippery baton?

Regulatory progress in US LNG has continued to be strong. But doubts about the economics of exports – and the legal underpinnings of supply contracts remain.