News
Latest Power Analysis
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International capital eyes Saudi infra plans
Power MENASaudi Arabia, like many of its neighbouring countries in the Gulf region, is trying to reduce its economy’s reliance on oil exports
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Who’s afraid of the CLO?
Power Asia PacificNot all financial instruments with three-letter acronyms are scary. CLOs for infrastructure debt are not only making a comeback but now being promoted as a solution to climate change
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Libor transition – buckle up for a rough ride
Power EuropeThe infrastructure industry is bracing for a storm of monumental proportions as the market readies itself for the transition away from established inter-bank lending rates that underpin many billions of dollars of loans across this global sector
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Coal-fired power in Europe
Power EuropeMizuho Financial Group last month became the latest major Japanese bank to revise its policy framework to impose restriction on its lending to coal-fired power projects
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The great infra fund bean feast
Power EuropeIn a world ruled by data – its capture, storage and the limitless capacity for manipulation – one of the mainstays of an infra hack’s life is to anticipate market shifts based on hard facts and a rather splendid database. This week’s missive turns the focus on infra funds and the anticipated uptick in activity that’s impacting the industry and looks set to dish up a bean feast for years to come
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Brooklyn Navy Yard cogen refi, US
Power North AmericaAxium Infrastructure completed the refinancing of the Brooklyn Navy Yard 286MW gas and oil-fired cogeneration facility in New York on 14 February using hybrid financing comprising tax-exempt bonds, taxable notes, and funds held under accounts created by the 1997 tax-exempt indenture
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LNG-to-power in Brazil and GNA I
Power Latin AmericaAn SPV comprising Prumo Logistics, BP and Siemens reached financial close at the end of March on the development, construction and operation of an LNG-to-power project located in the Brazilian state of Rio de Janeiro, part of a trend in the country's power market where there has been a surge of these types of projects
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Infra funds – pride before the fall
Power EuropeSince the beginning of time, the masses have been enthralled by building higher and bigger… a hubristic trait that usually ends badly and is repeatedly played out in the infrastructure funds space. This is why our quarterly report on fundraising by global infrastructure funds has so many in the industry predicting doom
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The great North American job hunt
Power North AmericaFew things set tongues wagging faster in the infrastructure community than recruitment trends, bonuses and salaries. While most folk like to benchmark careers against their peer group – frequently sucking the wind out of many a sail – everyone wants to know who is going where
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Revolving doors whip up a storm
Power EuropeWith bonuses now having been trousered by many London infrastructure bankers, the resignation season is in full swing as people ready themselves for new challenges or ease into the salaried luxury of gardening leave
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Acquisition of Glow Energy, Thailand
Power Asia PacificGlobal Power Synergy on 22 March submitted a tender offer for the remaining shares of Glow Energy, one of Thailand's largest independent power producers, having earlier this month completed the share purchase agreement with Engie to acquire its stake in the company
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Germany: walking on cooling coals
Power EuropeA German government-appointed commission announced on 26 January that the country should shut down all of its coal-fired power plants by 2030 at the latest. The German government and 16 regional states must now implement the roadmap proposals
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Institutional investors – doing it for themselves
Power EuropeThere’s a growing trend in the infrastructure community for institutional investors to “go it alone”, eschewing the services of fund managers as they deploy big tickets across the global market
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Infra fundraising – oops we did it again
Power EuropeIt’s unseemly to crow about one’s victories in the heavily-contested area of data gathering on fundraising by unlisted, global infrastructure funds… but sadly, it’s also irresistible. Over the course of 2018, IJInvestor logged final close on $104 billion raised by funds – closed- and open-ended, with equity and debt strategies – putting us a country mile ahead of our rivals
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AMLO's new Mexican infra reality
Power Latin AmericaThe cancellation of major projects and a lack of clarity on government plans are making international investors nervous about Mexico though the country's infrastructure need is still significant
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Bulgaria's contentious energy mix
Power EuropeHuge uncertainty surrounds planned new nuclear power units and existing coal-fired plants in Bulgaria, which should create opportunities for other types of generation. However, renewable energy development and generation has slowed in the country in recent years
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Investment in India gathers momentum
Power Asia PacificIJInvestor data shows that international funds and institutional investors are already active in the market. There are 36 active funds focusing solely on India with a target of investing over $90 billion of capital
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Nachtigal hydropower, Cameroon
Power Sub-Saharan AfricaWhat was originally planned as a captive power project for a Rio Tinto smelter will become the largest hydropower IPP in Africa once constructed
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Infra funds – global fundraising
Power Asia PacificWhile 2018 failed to log a mega fund final close – something infra hacks love to hang a story round – this last year managed to break fundraising records across a slew of smaller vehicles, the vast majority of which are (not surprisingly) focused on equity