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Latest Power Analysis
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PJM term loan Bs trade down but are "hard to trip"
Power North AmericaSeveral term loan B deals trading in PJM Interconnection have taken a dip after clearing prices from the highly anticipated BRA for delivery year 2022/2023 were announced. But deal watchers say that this is unlikely to have a significant impact on revenues in the long run
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Tough life awaits PJM peakers as long-awaited auction disappoints
Power North AmericaAfter two years of delay due to uncertainty over the Minimum Offer Price Rule, PJM Interconnection has finally concluded its Base Residual Auction for delivery year 2022 / 2023, although results from the highly-anticipated auction have fallen short of market participants' expectations
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Aquila adds third LSE energy efficiency fund to mix as market heats up
Power EuropeAquila has introduced a third major energy efficiency fund to the London Stock Exchange, raising £100 million from its IPO
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The value of risk... explicit pricing of risks can help
Power North AmericaExplicit pricing of physical risks can help promote investments in the infrastructure sector. David Espinoza, senior principal at Geosyntec Consulting, Washington, DC, delves into his alternative for discounted cash flow modelling
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Banks and investors begin to walk the ESG talk
Power EuropeESG considerations are starting to carry real financial weight, as is visible from the flurry of recent ESG-linked financings in the infrastructure market
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The HIPpest project on the street
Power EuropeA curious renewable energy / transmission project has dinged the European radar at IJGlobal… but while it’s always nice to write about a new deal being rolled out, this one has an uncomfortably similar scent to a project of a few years back
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Cost of capital king Equitix sets sights on NA market
Power EuropeEquitix has hired a senior adviser as part of its North American expansion
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M&A bankers prep district energy biz sales
Power North AmericaM&A bankers are readying the sales of a number of district energy systems that are anticipated to hit the auction block in coming weeks
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APAC infra fundraising – death by FIFO?
Power Asia PacificIn recent years, Asia-Pacific has been one of the fastest developing markets for infrastructure funds. As the region increasingly opens up to global investments, its economies and infra development are growing significantly
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Secondary funds market primed for a bumper year
Power EuropeThe pandemic temporarily threw a wrench in the works, but an inflow of new capital is expected to drive further growth in the secondary market for stakes in infrastructure funds
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The next generation of data for infrastructure investors – Special Report
Power EuropeTo the usual “How was Covid for you?” the team at EDHECinfra knows not to smile too much. “When we launched the commercial activities of EDHECinfra in 2019,” recalls director and founder Frederic Blanc-Brude, “one of us said something like ‘what we need now is a good crisis!’”
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Brexit Special Report 2021
Power EuropeIJGlobal speaks to Assured Guaranty’s Paris-based Raphael de Tapol about the challenges brought by Brexit and how AG has risen to overcome them…
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Environmentally, economically and politically unstable… nuclear
Power EuropeThe future of nuclear lies in the hands of governments that want to build it. Sophie Mellor looks at how ESG ratings, public and private financing as well as politically stability impact projects
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Georgia Power sustainability bond, US
Power North AmericaGeorgia Power brought another new ESG labeled security to the US utility sector in February when it issued its first sustainability bond – which is similar to a green bond but with an expanded list of eligible projects that include social initiatives
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Baltic district heating finds a private equity owner
Power EuropePartners Group is acquiring a district heating platform in the Baltics, in the latest of a string of exits by Finnish utility Fortum
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Gás Natural Açu, Brazil
Power Latin AmericaPort of Açu located in the municipality of São João da Barra, in the North of Rio de Janeiro state is on its way to becoming a grandiose industrial complex serving the oil & gas industry
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Glenfarne portfolio, Latin America
Power Latin AmericaBefore 2020 came to a close, New York-based developer Glenfarne Group was able to refinance its roughly 1.5GW Latin American generation portfolio with a mix of bank debt and bonds, following a path opened up by other sponsors in the region who had refinanced their assets earlier in the year
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Next stop: Peru
Power Latin AmericaAware of the importance of infrastructure to economic growth, and of the role of the government in driving the industry, Peruvian leaders have started to think strategically and to make that clear to investors
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Xiamen Xiangyu steel plant, Indonesia
Power Asia PacificChina state-owned logistics company Xiamen Xiangyu on 15 December achieved financial close on the more than $2 billion integrated steel plant project, one of its largest overseas investments