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Latest North America Analysis

  • Funding US wells, not walls

    The first couple of months of 2019 saw substantial deals for the oil and gas industry in North America

  • Tłı̨chǫ All-Season Road P3, Canada

    The Tłı̨chǫ All-Season Road P3 project reached financial close in February. Despite being procured as a P3 with the typical DBFOM model, there are no banks involved, the private developers are providing a small percentage of the equity and a large chunk of the financing is being provided by the government

  • Ørsted's sale of 50% stake in Deepwater Wind

    Earlier this month Ørsted and Eversource agreed to collaborate on US Atlantic Coast offshore wind projects in a deal worth about $225 million for the second time

  • Charged with uncertainty - EV charging infra

    Various public and private led funds are being raised in early 2019 targeting electric vehicle charging infrastructure. Private investors are battling with oil majors and energy utilities for dominance of this nascent market, as appropriate financing structures remain up for debate

  • Canada's energy diversification in 2019

    Canada updated its coal-fired electricity regulations in December (2018), introducing much stricter measures. The country is now targeting 90% of electricity from non-emitting sources by 2030, and decreasing carbon pollution from the electricity sector by 12.8 million tonnes.

  • Michigan’s I-75 road, US

    Michigan closed on its second P3 deal in November 2018, and the project had a financing structure unique to the US market – private activity bonds. It had an accelerated timeline, going from preferred bidder to financial close in just under three months with four local civil contractors on board having achieved investment grade ratings from Moody’s and Kroll

  • Royal Inland Hospital, British Columbia

    The recent financing of the Royal Inland Hospital Patient Care Tower project featured the first internationally accredited green bond in the Canadian P3 market

  • US airports – hashtag flying too

    Everyone has an airport horror story and – curiously – many of them occur in America. For a First World nation that embraced flight early as the favoured mode of transport, it remains a curiosity that the user experience is so… Third World

  • The Caribbean – welcome to PPParadise

    Many people find it hard to look beyond sun-drenched beaches and cocktails when it comes to the Caribbean. But with 28 countries and a combined population of 42.5 million, there’s a strong argument for rebranding it “the land of sun, sea and PPP”… if it can follow the example of Jamaica

  • Howard County Courthouse P3 – Maryland, US

    It is almost unheard of in the US for a P3 project to go from procurement to financial close in just under a year. However, this is exactly what happened with the $150 million Howard County Circuit Courthouse P3 in Maryland, which reached financial close in October, setting a precedent for how infrastructure projects should be procured in North America

  • US and China – first responders

    The US Senate on 3 October passed the Better Utilization of Investments Leading to Development Act. It aims to facilitate the investment of $60 billion in developing countries through a newly formed development finance agency – the US International Development Finance Corporation

  • FAA bill revision – a game changer for US airports?

    The airports sector in the US has both fascinated and frustrated the private sector given the huge potential for investment. But in the last month, the Federal Aviation Administration’s reauthorization bill has made important revisions – including removing the cap on the number airports that can be leased and allowing the public sector to retain a stake in a potential project

  • Gordie Howe Bridge P3, Canada/US

    The Gordie Howe Bridge P3 – formerly known as Detroit River International Crossing (DRIC) and the New International Trade Crossing (NITC) – has been an endurance test. One of the largest ever infrastructure projects in North America, 18 years passed between completion of its cross-border traffic study and financial close on 28 September (2018)

  • PABs: favoured financing

    With a sizable chunk of funding still available to developers, private activity bonds look set to be the gift that keeps on giving despite the growing availability of private placements

  • What’s in storage?

    In the evolving sector of battery storage, where predicting future developments is difficult, the importance of contractual structures – and the ability to validate them – is significant

  • Importing offshore wind experience

    How European experience can be used in the upcoming round of US offshore wind projects

  • Missed opportunity: Seattle monorail

    WHAT WE SAID THEN: “It was an eminently finance-able project using modern technology, offering Seattleites a six-minute service on an elevated system that would provide a critical transport link that could boast both environmental and economic benefits. But it’s dead in the water”

  • Cheating death: Miami Access Tunnel

    WHAT WE SAID THEN: “The most tangled PPP procurement process in the US, a market that has produced more tangled PPP procurements than most”

  • Los Angeles Automated People Mover, US

    As a mass-transit solution, California’s $2.5 billion Los Angeles Automated People Mover breaks new ground for financing in the US, delivering a 2.25 mile elevated electric train system, connecting parking facilities to the international airport

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