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VTG – the full story
Transport EuropeAbu Dhabi Investment Authority and Global Infrastructure Partners are set to jointly acquire a 72.5% stake in European transport business, VTG Aktiengesellschaft, from Morgan Stanley Infrastructure Partners and Joachim Herz Stiftung for around €7 billion
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JFK New Terminal One, NY
Transport North AmericaThe single largest airport P3 project in the US reached financial close this summer, a development that is expected to change the aviation landscape in New York for years to come
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Bhola II gas-fired recapitalisation, Bangladesh
Power Asia PacificThe recapitalisation of the Bhola II gas-fired power plant was another step in the maturation of Bangladesh’s project finance market. The transaction innovated the domestic project finance market for power by bringing in a larger club of commercial banks, including two first-time participants in Bangladesh’s project finance market, and a new international equity holder
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Infra Dig – Namibian hydrogen… stunning ambitions
Renewables Sub-Saharan AfricaWhen it comes to ambitious projects, Namibia is leading the field with a fascinating project that will establish the southern African nation as a significant player in the fast-evolving hydrogen ma
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LIBOR phase out of Sterling and the US Dollar markets
Renewables North AmericaAfter decades of service, LIBOR effectively ceased to be used as an interest rate benchmark at the end of 2021 in most markets. Synthetic LIBOR will continue to be published for Sterling until the end of 2022 but only to support legacy deals that hadn’t transitioned to an RFR by the end of 2021
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Infra Dig – Quinbrook’s ESG tech bonanza
Renewables EuropeESG and technology in infrastructure and energy are front-and-centre for this week’s Infra Dig podcast as the focus turns to Quinbrook Infrastructure Partners – winner of the tech trophy in last year’s inaugural IJGlobal ESG Awards
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Koudia al Baida wind farm repowering, Morocco
Renewables MENAAfrica’s first ever wind farm – the 50MW Koudia al Baida in the Tangier region of northern Morocco – will be rebuilt and doubled in size as part of a €138 million ‘repowering’ project signed by French power developer EDF and Morocco’s Masen
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Infra Dig – Nicholas Beatty, Zenobē Energy
Renewables EuropeIn a flagrant display of self promotion, the Infra Dig podcast interviews the winner of one of last year’s IJGlobal ESG Awards… to ramp up publicity for this year’s event which is currently receiving submissions
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Switching whip hands mid-thrash
Oil & Gas EuropeIt’s time to pull up a seat – popcorn at the ready – to enjoy an almighty dingdong between borrower and lender as battle lines are re-drawn in a swiftly shifting infrastructure finance environment
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Ferrocarril Central refi, Uruguay
Transport Latin AmericaUruguay’s largest ever infrastructure project came a step closer to reality last month as its sponsors completed a $475 million refinancing, providing extra cashflow for new investments while strengthening the project’s long-term financial footing
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Hot Springs Eternal: Ancala’s Evolution of HS Orka
Renewables EuropeWhile renewable investment in Europe has been on a stunning trajectory in recent years, not all opportunities within the space are equal. Geothermal assets such as HS Orka are a rarity in Europe and do not frequently come up for acquisition
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Infra Dig – crowdfunding Spanish renewables
Renewables EuropeIn a break from the norm, the IJGlobal podcast series Infra Dig turns the focus away from mainstream infrastructure and energy finance to shine a light on an interesting organisation in Spain
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Abashiri biomass power plants, Japan
Renewables Asia PacificJapan Petroleum Exploration-led consortium achieved financial close on 2 biomass power plants worth roughly $110 million – a testament that biomass is on a steady rise as an alternative for conventional power generation as countries around the globe accelerate energy transition
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Nepal's hydropower market
Renewables Asia PacificNepal’s hydropower potential is tremendous, yet profoundly underdeveloped. Prime Minister Sher Bahadur Deuba's government has pumped up the portion of run-of-river projects to 45% of the allocated quota for a 15GW target. This development signals the government's preference for more environmentally friendly assets
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Rv555 road PPP, Norway
Transport EuropeRv555 Sotrasambandet, Norway’s largest transport project to date, reached financial close earlier this year after a brief delay and with a slightly amended PPP contract to account for Covid-19 and geopolitical uncertainty
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Why Brazil is a market to watch
Telecoms Latin AmericaAs Latin America’s largest economy, Brazil has long been a destination for foreign direct investment and international trade – and it’s showing no signs of slowing down in the future
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The Mariana dam collapse and its impact on infra
Mining North AmericaThere has been extensive commentary on the SEC’s recent action against Vale in New York for violating antifraud and reporting provisions of the federal securities laws by making false and misleading statements about dam safety in the company’s sustainability reports and other environmental, social and governance disclosures. The alleged violations relate to the building of the Brumadinho dam
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Provence Grand Large floating wind, France
Renewables EuropeProvence Grand Large floating wind pilot – which is led by a consortium of EDF Renewables and Enbridge Eolien France – quietly reached financial close at the end of last year, marking the first floating wind farm to have benefited from limited-recourse debt financing from commercial banks
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Infra Dig – Nightmare on Edinburgh Tram
Transport EuropeFew projects have the capacity to reduce infrastructure veterans to tears of frustration to quite the extent that Edinburgh Tram can. It will challenge even the sturdiest of rail professionals to keep a bottom lip from wobbling