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Mexico struggles for airport solution
Transport Latin AmericaAlmost 2 years after the cancellation of the iconic project to build a new airport in Mexico City, the AMLO administration continues to battle over a final plan to guarantee the country will have adequate airport capacity
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Golden Eagle Solar and Wind Portfolio, Mexico
Renewables Latin AmericaIn November 2019, after years of work, Engie and Tokyo Gas reached financial close on the largest renewable portfolio in Mexico with post-reform government power purchase agreements. Seven months later, the assets are endangered by a raft of government policies, supposedly implemented in response to the Covid-19 pandemic, but widely viewed as politically-motivated
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IJGlobal Webinar: Middle Americas Renewables Discussion
Renewables Latin AmericaIJGlobal – in partnership with LAC-CORE – this week hosted a webinar about renewable energy across Middle Latin America, focusing on Colombia, Mexico, and the Caribbean
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Espoo Schools PPP, Finland
Social & Defence EuropeThe Espoo Schools PPP project has broken new territory for Finland, concluding the procurement on the nation's first social infrastructure transaction with an innovative financing structure involving a re-draft of its tax legislation and – potentially – serving as a pathfinder for pipeline of similar deals
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MTP Finco, Ontario
Renewables North AmericaEvolugen tested the limits of Canadian investors' appetite for delayed-draw private placements in November 2019, when it issued a dual-tranche project bond to refinance a 488MW hydro portfolio in Ontario
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Solar securitizers dance around disruption
Renewables North AmericaWhen the Covid-19 pandemic hit the US, the securitization market slammed shut, prompting Vivint Solar to pivot away from a deal that was "on the cusp of closing" to alternative sources of liquidity. But as Vivint put the finishing touches to its Plan B, a window opened up for ABS issuance and other solar securitizers started piling in
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IJGlobal Webinar – Digital Infrastructure
Telecoms North AmericaThis week’s IJGlobal webinar – The Critical Infrastructure Resilience Discussion – attracted an impressive international audience with the 2 key speakers delving into the a sector that will become increasingly core to subscribers of this service
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Fécamp Offshore Wind Farm, France
Renewables EuropeSince financial close on Saint-Nazaire – the first offshore wind farm to make it over the line in France, which struggled to kick-start its programme for years due to legal challenges – the process to start construction and finance projects off the French coast has sped up considerably
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Gazipur II power plant, Bangladesh
Power Asia PacificGazipur II – a 300MW heavy fuel oil (HFO) power plant in Kodda – reached financial close amid a growing debate about the future of Bangladesh's power sector. It is the country's first IPP financed only by commercial lenders
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District Energy Networks/Vicinity Energy, US
Power North AmericaAntin Infrastructure Partners made good on its commitment to grow its US presence at the end of last year with the $1.25 billion acquisition of Veolia’s District Energy Networks business. The French firm funded the purchase with a $770 million debt package that combined elements of corporate and project financing
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IJGlobal Webinar: Latin American Renewables Discussion
Renewables Latin AmericaIJGlobal – in partnership with LAC-CORE – this week hosted a webinar focused on renewable energy across Latin America
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Highway 104 Twinning Project, Nova Scotia
Transport North AmericaThe consortium behind Canada's Highway 104 P3 carried the project to financial close in the midst of the Covid-19 crisis... however, not without a provision in the project agreement allowing for the pandemic
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Who’d start a new job in lockdown?
Renewables EuropeIt’s a curious old world, ain’t it? Have you noticed the number of people moving jobs of late? It’s a trend that has a lot of folk around the industry scratching their heads in bemusement. Why on earth would you take a leap of faith in a market like the one we’re not enjoying?
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Dendermonde Prison PPP, Belgium
Social & Defence EuropeThe procurement journey for Dendermonde prison started in 2009 when the Belgian Ministry of Justice began the tender process for 4 correctional facilities, giving bidders the chance to bid on all projects as a package even though each was to be delivered under separate procurement agreements
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Genneia, Argentina
Renewables Latin AmericaDevelopers in Argentina have faced an inhospitable project finance market since 2018, but the country's leading wind developer Genneia has managed to finance no fewer than 9 wind projects in the past 2 years, using creative structures including the company's first ECA-backed corporate loan
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Webinar: IJGlobal Canadian Power Market Discussion
Renewables North AmericaIJGlobal this week hosted its first webinar, this one focused on the power market in Canada – with a primary focus on Alberta
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IJGlobal Survey – Global Digital Infrastructure
Telecoms Asia PacificIJGlobal this week published a survey to gauge understanding and preparedness for Digital Infrastructure – a burgeoning sector that we anticipate will benefit massively from international stimulus packages to revitalise economies post Covid-19
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Japan offshore wind: readying for auction
Renewables Asia PacificThe publication of the final auction conditions for Japan's first General Sea Areas offshore wind site is anticipated in June, IJGlobal understands, after the public consultation on the draft conditions closed this month (May 2020). This is for a 20MW floating offshore wind promotion zone, but the market will see some precedents set for the upcoming larger bottom-fixed promotion zone auctions
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Metro de Santiago, Chile
Transport Latin AmericaIn a market in which you increasingly see short-term project financing, such as mini-perms no longer than seven years due to the uncertainty brought up by the novel coronavirus pandemic, Santiago Metro has managed to raise 30-year debt