Latest Analysis
South Stream and the political battleground
Oil & Gas EuropeWith the expansion of US sanctions against Russia, the regulatory dispute between the EU and Russia, and the resignation of Bulgaria’s government, the ongoing feasibility of Gazprom’s $50 billion South Stream project is being questioned
North Island Hospitals, Canada
Social & Defence North AmericaThe financial close of the North Islands Hospitals project in Canada marks the first ever green bond issue for a Canadian social infrastructure PPP project
US LNG's new prospects for Asian offtakers
Oil & GasThe developers of natural gas liquefaction projects want to lessen their dependence on debt from export credit agencies. Will this free them to work with different offtakers?
Alto Sertão II, Brazil
Renewables Latin AmericaRenova Energia's R$1.044 billion ($468 million) debt-financing for the Alto Sertão II wind complex represents one of the largest Brazilian renewables financings to date
Pagbilao 3, Philippines
Power Asia PacificThe Ps44.09 billion ($1 billion) project financing for Pagbilao power plant phase 3 is the largest ever project financing in the Philippines funded exclusively by local lenders
Vietnam’s PPP law
Transport Asia PacificVietnam has just delayed the introduction of its PPP law. The news is a setback as the country is in need of the extra investment a transparent PPP process would help attract
Tamar refinancing, Israel
Oil & Gas MENAThe successful – and attractively-priced – five-tranche $2 billion bond refinancing for Delek Group’s stake in the Tamar gas field should make bonds more attractive to other upstream producers
Italy ready for its first project bond
Transport EuropeInternational banks are already marketing what would be Italy’s first project bond financing for the transport sector and with new legislation approved yesterday (19 June 2014) private placements will be possible for the first time in the Italian market
Metro Power, Pakistan
Renewables Asia PacificPakistan’s Metro Power marks the IFC’s first investment into a wind project in Pakistan and demonstrates the influence multilateral financing can have in boosting the attractiveness of the renewables sector amongst domestic banks
US carbon regulations: inevitable and far-reaching
Renewables North AmericaA recent decree from the US Environmental Protection Agency to slash US carbon emissions further is not unexpected, but could it signal the end for coal-fired power in the US?
Sohar Refinery, Oman
Oil & Gas MENAThe latest $2.8 billion financing raised by Oman Oil Refineries and Petroleum Industries Company (ORPIC) for its Sohar refinery is part of a wider strategy to boost Oman’s downstream industrial capacity
Aberdeen takes over SWIP
EuropeAberdeen Asset Management enters infrastructure with the acquisition of Scottish Widows Infrastructure Partners as investor objectives shift to predictable and stable cashflows
Waterloo LRT, Canada
Transport North AmericaThe C$621.2 million ($571.5 million) Waterloo light rail transit PPP in Canada is the latest transit deal to close using a mixture of short-term bank debt and long-term bond financing, after the C$2 billion Ottawa light rail deal, which closed last year
Market readies for Thames Tideway Tunnel’s IP structure
Water EuropeBidding is underway for construction contracts, and now the much-awaited tender is imminent to finance London’s new Thames Tideway Tunnel
Gemini wind, the Netherlands
Renewables EuropeThe Gemini offshore wind farm in the Netherlands is the largest offshore wind project financing ever, and featured export credit agencies, commercial banks and a Danish pension fund
Is Asia ready for project bond enhancement?
Asia PacificEurope has honed a project bond credit enhancement. Asia is poised to follow