Perspectives - Proximo

DeepDive reports on the topics that matter to you. Surveys and data reports that tackle market challenges and trends.

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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...

08 September 2017
MFI/DFI, Power

Sirajganj IPP: How long can Bangladesh tenors go?

Sembcorp has reached full financial close on a $309 million DFI-backed loan to finance the 414MW Sirajganj IPP. The deal is the longest tenor power financing in...

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...

24 August 2017

Deutsche Bucht: Cheap debt sunset?

Financing for the Deutsche Bucht project has neared Borkum II’s benchmark low for the cost of German offshore wind debt. Despite being the last deal structured under the...

02 August 2017
MFI/DFI, Power

Making savings: Mali’s first IPP

Mali’s debut independent power project financing, for a greenfield heavy fuel oil-fired power plant, features a blend of Islamic and DFI debt with tight pricing given the...

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.

25 July 2017
ECA, Power

How will Indonesia’s new decrees impact PLN’s IPP concessions?

Four presidential decrees rifled Indonesia’s private power market this year as PLN was given more powers over developers when awarding IPP concessions. While there is...

24 July 2017
MFI/DFI, Power

Interconnector Italia: Thinking outside the box

Interconnector Italia – a consortium of high-energy-use private sector companies in Italy – has signed a partially EIB-backed financing for its share of the Italy-France...

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...

03 July 2017

Northwind refi: Pocketing the margin difference

Sponsors of the 216MW Northwind offshore wind farm in the Belgian North Sea closed a €525 million ($596 million) ECA-backed refinancing last month - more than halving the...

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?

26 June 2017

Re-landscaping the park: Dubai solar goes shariah-compliant

Sponsors of the 800MW third phase of the Dubai solar park closed a $700 million soft mini-perm earlier this month - the largest Middle East solar deal to date to go...

22 June 2017

Rock Rail: Alternatives bridge the funding gap

Rock Rail's latest rolling stock financing is its largest to date. Priced competitively at just over 200bp, and over a very long tenor, the deal has proven popular with...

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...

14 June 2017
PPP/P3, Renewables

Gipuzkoa: Raising optimal cash for debut in trash

Meridiam has cut a dash with its debut in the waste concession market via a mixed bond and loan package designed for optimal tenor at optimal pricing.

02 June 2017

The right combination: DFI's open up for Egypt solar Round 2

With many of the issues that dogged Egypt's solar FiT Round 1 fixed, DFIs that were forced to pull out of the first round are back as serious lending prospects for Round...

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...

23 May 2017

Sweihan PV: Taking the soft option

Despite being a pathfinder project for Abu Dhabi and reliant for its cashflow on a PPA priced at one of the lowest ever tariffs for a utility-scale PV project, the...

22 May 2017

Message received: ACWA’s holdco hybrid a hit with investors

ACWA Power’s complex non-recourse bond debut was never going to be an easy sell to mainstream investors. But after 200-plus face-to-face account meetings and constant...