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Latest Power Analysis
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IRS guidance "big win" for carbon capture tax equity
Power North AmericaAfter two years of waiting, tax equity investors finally have much-needed guidance from the Internal Revenue Service on the framework for investments in carbon capture and storage projects
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EXCLUSIVE IPIF: Democratising unlisted infra for Australia's SMSFs
Power Asia PacificAs Melbourne-based fund-of-funds manager IPIF is in a A$250 million round of fundraising for its IPIF Core platform, the manager is considering future possibilities for direct investing. Meanwhile IPIF's new research quantifies the potential for outperformance for SMSFs that access exposure to the unlisted infrastructure asset class, as large industry superannuation schemes have
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I Squared consolidates in Peru
Power Latin AmericaA year after private equity firm I Squared Capital completed the acquisition of a large renewable energy portfolio in Latin America, the fund tied up the final loose ends by refreshing the debt in place at the holdco level and on its newly consolidated Peruvian assets
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Valentine’s Bonus – bankers are blue
Power EuropeWord from the banking community has it that if you’re holding out for a heart-warming letter from your boss in the coming weeks – one that leaves you in little doubt how much you’re loved – well… you’re in for a nasty surprise
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Banks and developers mull CFE's plans for renewables
Power Latin AmericaAs the Mexican government upends incentives, self-supply contracts and the market for clean energy certificates, project finance and investment bankers in New York and developers in Mexico City are attempting to gauge the impact and decipher the administration's motives
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Azito IV phase expansion, Côte d’Ivoire
Power Sub-Saharan AfricaA total of nine DFIs turned up for the debt financing of only the fourth expansion of Globeleq’s on-going concern in Côte d’Ivoire which has now reached financial close – enabling the addition of 253MW of installed power capacity at the 462MW Azito combined cycle gas turbine power plant
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2020: Year of the debt fund?
Power North AmericaWhile the gap between equity and debt fundraising was still wide in 2019, Q4 figures highlight a potentially new trend
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Tina River Hydro PPP, Solomon Islands
Power Asia PacificSolomon Islands' 15MW Tina River Hydro high dam project was around 12 years in development, a saga not atypical for this technology. The financing of this, the nation's first PPP, changed course after global oil prices tanked in 2014 to 2015. A new concessional finance structure emerged, where government on-lends a single blended facility to the project company, complementing private sector equity
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Banks eye "boring" construction loans for Mexican CCGTs
Power Latin AmericaA flurry of tenders for gas-fired projects in Mexico may be good news for construction contractors, but the prevailing state-ownership model means project finance bankers will be left to scrap over "boring" construction loans rather than meaty project finance mandates
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CCGT sponsors push on in PJM, auction or no auction
Power North AmericaDevelopers of gas-fired projects in PJM Interconnection are forging ahead with financing plans for Q1 2020, despite lingering uncertainty over the delayed capacity auction timetable and rules, while frustrated renewable energy developers have been forced back to the drawing board
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EXCLUSIVE Asia's first infra loan securitisation platform
Power Asia PacificClifford Capital and Asian Infrastructure Investment Bank announced last month the establishment of Bayfront Infrastructure Management – a platform to mobilise institutional capital for infrastructure debt in Asia. IJGlobal spoke with both equity holders to learn more
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Facility D IWPP expansion, Qatar
Power MENAWhile development of the new Facility E IWPP progresses slowly, Qatar’s General Electricity & Water Corporation (Kahramaa) has signed off on a rapid $486.25 million expansion of its existing Facility D IWPP
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Dededo combined-cycle power plant, Guam
Power Asia PacificGuam Power Authority has procured a 198MW baseload power plant under a build-operate-transfer structure to replace the western Pacific island's ageing and limited baseload power supply. KEPCO becomes Guam's largest power provider with this project. Meanwhile Guam's energy mix is changing rapidly, as the western Pacific US territory is preparing its fourth renewables procurement round
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IJInvestor Awards 2019 Rising Star – Mounir Corm
Power EuropeTalking to Mounir Corm, one immediately realises that you are dealing with someone whose interests and skills reach far beyond the financial universe
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Institutional investors bid high on LatAm infra
Power Latin AmericaIn search of greater returns, institutional investors from all around the globe seem to be increasingly prepared to take on greater risk. One example of this is a rising appetite for direct investment in Latin American infrastructure, with 2019 figures being three times higher than the full previous year
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Brazil political risk for infra investors
Power Latin AmericaBrazil’s political risk is declining after a decades of tumultuous events. The political crises involving ex-President Luiz Inácio Lula da Silva, Odebrecht, Petrobras and Operation Carwash remain painful reminders to investors worldwide of unmeasured political economic risks
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No, actually… it’s all about us!
Power Asia PacificWhen we go out to meetings and dare to drop into the conversation the subject of awards nights, it can go either of two ways. Either they lean in, ears pricking up… or they peer at you through fingers, shaking heads vigorously
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Fund analysis: AMP Capital Infrastructure Debt Fund IV
Power Asia PacificAs the interest for mezzanine strategies spreads among equity managers, AMP Capital has reinforced its reputation in this space by raising a total $6.2 billion on its latest vintage
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Three’s a crowd: the trouble with ME tenders
Power MENAA messy cancellation of a tender in Kuwait this week demonstrates why making advisers bid collectively for mandates has significant downsides