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Latest Europe Analysis

  • How to tie a noose…

    You know it’s grim on the street when you idly google “how to tie a noose” while on the phone to an old chum (surprisingly easy, it turns out) as he drones on that – even though there’s actually quite a lot going on out there, it’s just a bit… you know… dull

  • M25 road refinancing, UK

    London’s orbital M25 motorway refinancing was the largest infrastructure refi seen in the UK since the Intercity Express deal of 2015

  • Belgian offshore wind: betting on zero

    Late last month (July 2018), following approval from the European commission, planned Belgian offshore wind farm Seastar and Mermaid merged. This union was prompted by Eneco joining Otary and Electrabel in the consortia for each project. The combined Seamade wind farm will have a total generating capacity of 487MW

  • The UK’s broadband bonanza

    The UK's broadband roll-out has so far attracted significant private capital, and a growing number of investment opportunities are appearing on the horizon

  • A65 Autoroute de Gascogne toll road refinancing, France

    Although concerns over traffic volumes on France’s A65 Autoroute de Gascogne toll road seem to have lessened since it became operational in the wake of the financial crisis, a recent refinancing reveals that the road's sponsors still couldn't be too ambitious when it came to debt tenor and pricing

  • Estonia runs before the wind

    Estonia will need to make a big push in the renewables space to stay on track to achieve its renewable energy targets for 2030. And this is likely to involve massive deployment of wind energy

  • Does Ijmuiden lock signal more woes for BAM?

    This month saw European construction giants BAM and VolkerWessels announce a second cost overrun due to continuing problems with the Ijmuiden lock project in the Netherlands. This time, the overrun amounted to €30 million for BAM and €31.5 million for VolkerWessels

  • Acquisition of Cory Riverside Energy, UK

    When a consortium led by London-based infrastructure fund manager Dalmore Capital emerged as preferred bidder in the sale of UK energy-from-waste company Cory Riverside Energy, there was some surprise that a team challenged by several partner drop-outs had made the highest fully-funded offer

  • Borssele III/IV offshore wind, Netherlands

    Blauwwind II reached financial close on Dutch offshore wind farms Borssele III/IV at the end of June, concluding the two-year procurement on the $1.7 billion greenfield deal that stands out for achievements on many levels

  • France bites bullet – softly – on subsidies

    France has bitten the bullet on subsidies for the first two rounds of its offshore wind programme, slashing them from an eye-watering €200 per MW over 20 years to a – let’s be honest – still pretty darned generous €150/MW… and it has (largely) been welcomed

  • Norway – Alt for Norge

    In a European infrastructure market that has been dominated in recent times by refinancing and acquisitions, it seems counter-intuitive to focus on greenfield PPP developments, but hopes springs eternal at IJGlobal and the desire to celebrate opportunity is strong

  • Acquisition of HES International, The Netherlands

    Funds managed by Macquarie Infrastructure and Real Assets and Goldman Sachs investment bank signed a $1.6 billion deal on 3 April to acquire one of Europe's largest dry and liquid bulk terminals operators – HES International. The acquisition is pending final completion

  • Nobody expects the Spanish disposition

    Political upheaval in Spain has thrown the European market into disarray as the transport agenda is kicked into the long grass – wiping out the only greenfield pipeline of any scale on the continent

  • Afsluitdijk PPP, The Netherlands

    The Netherlands’ Afsluitdijk PPP project reveals the extent to which banks from beyond the surrounding region are shying away from Dutch infrastructure projects. Meanwhile, with the Dutch PPP pipeline drying out, construction companies and banks in the Netherlands are also feeling the pinch

  • Spain: for whom the expropriation tolls

    The euphoria that welcomed the announcement of a €5 billion greenfield Spanish roads programme has waned in recent months as expropriation risks bring progress to a stumbling shuffle and the dreaded four-letter word – toll – is whispered eagerly in the corridors of power in a bid to hedge their costs

  • Battery power – applying the electrodes

    Perched in the Regency splendour of Le Méridien Piccadilly for the 19th gathering of REFF Europe, surrounded by the great and good of the renewable energy community for a couple of days this week, nervousness started to set in over what to write for Friday’s editorial...

  • Redrawing the infrastructure map of Europe

    With business slowing down in some of the countries that have seen most of Europe’s infrastructure activity over recent years, a number of other markets seem to be picking up the baton. Among these are Spain and Ireland, and unlikely candidate Belgium

  • European floating offshore wind

    A major milestone for renewable energy was reached in late 2017 with the world’s first floating offshore wind farm entering commercial operations in October. The 30MW Hywind Scotland pilot park is located offshore Peterhead in Aberdeenshire, and consists of five floating 6MW turbines

  • French offshore wind – and the first shall be last…

    The winner of France’s third round of offshore wind tenders will be confirmed later this year and – amusingly – the Dunkirk project stands a good chance of being operational before projects from either of the first two tenders are generating

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