The successful close on the Kenhardt solar and storage portfolio marks a bright spot in an otherwise frustrating period in South African power. But battery technology probably still needs to develop a wider local lender following.
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Brazil's new infrastructure law has been broadly welcomed by the project finance market. In addition to providing stimulus for a wider infrastructure investor base, the law has eased initial angst that BNDES will return to its old ways and start crowding out the private sector from infrastructure and energy finance.
With its mixed bag of offtake contracts that include a merchant element, the Aguas Pacifico project financing has pushed the envelope on structuring lender comforts for Chilean desalination projects. And with Chile expected to double desalination capacity by 2030, the project’s template is almost certain to be repeated.