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22 March 2024
in
Renewables

Basel's sledgehammer approach to US tax equity

Tax equity investments in US renewables are so thoroughly derisked they are often less risky than construction loans. So why is Basel III proposing an increase in risk...

13 February 2024
in
Manufacturing & equipment

Northvolt: The battery benchmark

Northvolt’s latest big-ticket ECA-backed financing sets a benchmark for European battery gigafactory deals. But can Europe’s green industrial policy keep up with the pace...

17 November 2023
in
Renewables

Tierra Bonita: A demonstration in PTCs

Tierra Bonita is one of the first US solar deals to include a production tax credit (PTC) transfer. So how do the benefits demonstrated by the deal compare with the...

08 September 2023
in
Power

Proximo Weekly: Chilean electricity securitisation – simplify to diversify

Chile’s latest tariff recovery receivables securitisation demonstrates the willingness of the Chilean government to ensure bankability whatever the market conditions.

04 September 2023
in
Manufacturing & equipment, Metals and Mining, Oil & gas, Other, Power, Renewables, Social infrastructure, Telecoms and Communications, Transport, Waste and water

Private credit: Is this infrastructure’s new liquidity pocket?

Private credit - the hot new trend in corporate and leveraged lending - might have applications in project and infrastructure finance. But it’s part of a much longer...

25 July 2023
in
Oil & gas

Rio Grande LNG: Outsized deal – outsized complications

At $12.3 billion of debt raised, Rio Grande LNG has broken volume records. But its size was matched by the scale of complication in its path to financial close.

14 July 2023
in
Renewables

Proximo Weekly: Bid Window 5 – cracked and not what it was cracked up to be

The first solar projects from South Africa’s Bid Window 5 have reached financial close. It’s progress – but not what was expected.

23 June 2023
in
Telecoms and Communications

Proximo Weekly: Changing places

The US has been a bigger market for data centre financing than Europe, whilst Europe has been the leader in FTTH and the US has lagged behind. Those market trends look...

24 May 2023
in
Oil & gas

Port Arthur LNG: Old school but it works

The deal may not have the cross-collateralisation bells and whistles of other recent US LNG financings, but Port Arthur LNG is a robust project financing and a bellwether...

03 May 2023
in
Power, Renewables

Wheeling out the volume

South Africa’s renewable energy wheeling sector is expanding at pace, with as much as 5GW of projects at various stages of development and the beginnings of a wheeling...

27 March 2023

How to build – and defend – a franchise in US energy finance

Credit Suisse/UBS and FCB/SVB: Two distressed banking mergers and what they mean for the US power market.

16 February 2023
in
Social infrastructure

Proximo Weekly: Will Barcelona FC’s stadium bond hit the back of the net?

Barcelona FC is tapping the US private placement market for all of the debt required for its €1.5bn stadium project. Could the scale of the issue set a new precedent for...

13 January 2023
in
Renewables

Proximo Weekly: Making the most of the little grey cells

With access to significant DFI backing and offtakers as equity investors, the contrast between the highly successful Northvolt EV battery gigafactory programme and the...

22 December 2022
in
Metals and Mining

Proximo Weekly: A critical time for critical minerals finance

The energy transition is forcing banks and ECAs to engage with - or often return to - mining finance as the hunt for battery mineral resources heats up. But sponsors not...

16 December 2022
in
Waste and water

Proximo Weekly: What next for UK water?

If the UK decides that a radical change in direction is needed in the ownership structures used in UK water, can it make sure that the debt structuring baby is not thrown...

13 December 2022
in
Telecoms and Communications

Is the UK facing fibre overbuild?

Up to two altnet project finance proposals per week are landing on bankers' desks in the UK. Is the UK fibre market overcrowded and about to undergo a wave of...

02 December 2022
in
Renewables

Proximo Weekly: Are you PTC or ITC?

The Inflation Reduction Act has given US solar developers a choice of two types of tax credit – ITC and PTC. So how to get the best from the system? Match the right tax...

23 November 2022
in
Oil & gas

PDP securitisation: Oil, gas and paper

PDP securitisation is unlikely to ever hit the oil and gas financing mainstream – but appetite from US oil and gas independents is growing and with good reason.

18 November 2022

Proximo Weekly: Deals of the Year 2022 and what it takes to be a winner

The best project sponsors completely change the conversation about how to finance a particular asset class – Venture Global did that in spades with its move to modular.

28 October 2022
in
Renewables

Dollarized PPAs: Brazil puts its greenback into solar

Although it will only be a year old and has already been a very successful stimulus to the domestic renewables market, Brazil’s January 2022 law for the dollarization of...