Latest Analysis
What’s in storage?
Power North AmericaIn the evolving sector of battery storage, where predicting future developments is difficult, the importance of contractual structures – and the ability to validate them – is significant
Narrowing opportunities for big PF banks
EuropeLenders to Dutch PPPs are increasingly likely to be regional or institutional, with big PF banks less active across Europe
Importing offshore wind experience
Renewables North AmericaHow European experience can be used in the upcoming round of US offshore wind projects
Far from retirement: lifetime extensions
RenewablesRenewable energy assets can go beyond planned operational periods, and lifetime extensions are becoming particularly popular for wind farms and solar plants
The earth moved: Castor gas storage
Oil & Gas EuropeWHAT WE SAID THEN: “Construction and geological risk, particularly in the latter part when the cushion gas is being inserted, is difficult to quantify”
Pipe dreams: BTC pipeline
Oil & Gas EuropeWHAT WE SAID THEN: “In addition to breaking into a virgin market, the financing was closed successfully in less than three months in what could only be described as a turbulent political climate”
The mark of shame: Metronet
Transport EuropeWHAT WE SAID THEN: “In a world where failures always receive greater focus than successes, Metronet’s impact will be enduring while the success of Tube Lines will be a footnote”
Missed opportunity: Seattle monorail
Transport North AmericaWHAT WE SAID THEN: “It was an eminently finance-able project using modern technology, offering Seattleites a six-minute service on an elevated system that would provide a critical transport link that could boast both environmental and economic benefits. But it’s dead in the water”
Perfect chemistry: Sadara petrochemicals
Oil & Gas MENAWHAT WE SAID THEN: “Among this mammoth financings’ ground-breaking features was the largest ever (and second only) Middle Eastern sukuk bond, the largest ever direct loan from US Exim, and the participation of Spanish ECA FIEM on a project financing for the first time”
Keeping on track: Nacala Corridor
Transport Sub-Saharan AfricaWHAT WE SAID THEN: “It brings together many strands of project finance over the last 20 years, everything from risk allocation in concession agreements to managing political risk in a big-ticket ECA financing”
Gas glut: PNG LNG
Oil & Gas Asia PacificWHAT WE SAID THEN: “In terms of sheer scale and complexity PNG LNG represents not only the largest PF deal ever but also a true pathfinder that has profound implications for the regional energy finance market”
Dabhol trouble: Dabhol II gas-fired power
Power Asia PacificWHAT WE SAID THEN: “Many Indian power projects have attracted attention in recent years – mostly for the wrong reasons. Not Dabhol II” (ed. Not our finest hour)
Cheating death: Miami Access Tunnel
Transport North AmericaWHAT WE SAID THEN: “The most tangled PPP procurement process in the US, a market that has produced more tangled PPP procurements than most”
A new model: Thames Tideway Tunnel
Water EuropeWHAT WE SAID THEN: “The new Thames Tideway Tunnel sewer in London has achieved construction phase stable returns for investors and a cost of capital well below the industry average at 2.497%, all under a bespoke regulatory regime”
Pushing the boat out
Oil & Gas Sub-Saharan AfricaFloating LNG promises lower costs and flexibility to developers. But it also dredges up questions about the reliability of LNG delivery
MAPs of the world
Power EuropeThe smart meter market in the UK, with responsibility for roll-outs lying with energy suppliers, is a competitive market of independent meter asset providers, often backed by infrastructure funds