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Russia calling, as sanctions bite
Transport EuropePolitical decisions will determine how long sanctions imposed by the West must continue to hurt the Russian economy at large, but Russia’s transport sector has had to adapt to liquidity constraints
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Mining and solar in Chile: PPA hope?
Renewables Latin AmericaCould this match between Chile’s power-hungry mining industry and a rapidly growing solar presence in the arid north be an answer to Chile’s PPA woes?
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Rise of the pension fund infrastructure platform
Asia PacificMore than 18 years since Australia’s IFM Investors began pooling pension fund capital into infrastructure investment funds, 2014 has seen a spike of activity in pension fund-led investment platforms in the US and Europe
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Safi coal-fired, Morocco
Power MENAThe 1,320MW Safi independent power producer (IPP) project in Morocco will be the largest privately developed power plant in Africa to sign financing agreements this year
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Speyside biomass, UK
Renewables EuropeThe £48 million ($80 million) bond issue by Speyside Renewable Energy Finance is the first UK government-guaranteed bond issue for a renewables project
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Interstate 4 Ultimate Road PPP, Florida
Transport North AmericaThe $2.3 billion I-4 Ultimate PPP, the largest availability payment based transaction in the US to date, sees the return of tight pricing on US transport PPPs, and significant funding support from FDOT
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Nepal’s hydropower potential
Power Asia PacificThe landlocked, mountainous country of Nepal has immense hydropower potential. But concluding a power trade agreement with India is vital to the development of the country's hydro sector
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A7 Bordesholm-Hamburg, Germany
Transport EuropeHochtief, DIF and Kemna's €770 million ($1.02 billion) A7 motorway PPP in Germany marks both the first use of a greenfield project bond for a German road asset and the first European Investment Bank (EIB) enhanced project bond in the country
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Repricings in the US power market
Power North AmericaUS sponsors have been repricing debt on their power plants at attractive margins, reflecting a bank market starved for deals
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Tisur Matarani port expansion, Peru
Transport Latin AmericaGrupo Romero has signed a $280 million non-recourse debt-financing for the Terminal Internacional del Sur (Tisur) Matarani port expansion project in southern Peru for which the Las Bambas, Cerro Verde and Antapaccay copper mines are offtakers
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India’s new infrastructure investment trusts
Asia PacificIndia’s huge infrastructure development potential India requires stronger infrastructure financing systems. Infrastructure investment trusts (InvITs) are India’s latest attempt to boost access to long-term financing and attract foreign capital, but they may not be the solution they were hoped to be
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Westermost Rough, equity refinancing
Renewables EuropeThe UK Green Investment Bank (GIB) and Marubeni closed a £1 billion ($1.6 billion) refinancing of their 50% equity investment in the Westermost Rough offshore wind project
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US transportation: The 11th hour fix
Transport North AmericaDays away from allowing the US federal Highway Trust Fund to reach insolvency, Congress finally approved $10.8 billion in funding to the scheme. But the congressional bill is a short-term remedy and raises larger questions around the lack of long-term infrastructure funding in the US
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CPV's St. Charles and EIF's Newark power projects
Power North AmericaAs commercial banks look for market share in the US power market many are turning to merchant power projects, albeit with hedges that provide pricing certainty similar to a short term power purchase agreement (PPA)
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Pakistan’s power problems
Power Asia PacificCircular debt is an accepted and long running risk for Pakistan IPPs. But the country needs outside investment to fix its power problems. The country’s heavy backers, the Chinese, may not accept continuing circular debt
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ICA toll road refinancing, Mexico
Transport Latin AmericaLast month Mexican construction firm Ingenieros Civiles Asociados (ICA) closed a Ps3.8 billion ($294 million) bond refinancing which combined revenues from a toll road concession and a hybrid toll/availability-based highway project
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2i Rete Gas refinancing, Italy
Oil & Gas EuropeF2i and Ardian last month closed a €2.45 billion bank and bond refinancing of their 2i Rete Gas distribution assets, marking the largest combined bank and bond refinancing in Italy to date
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Carry on Cairo?
Oil & Gas MENANewly elected President of Egypt Abdel Fattah el-Sisi has prioritised major infrastructure projects for his first term in office but despite the rhetoric, the North African country has a lot to do before it can start to attract significant international investment
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Axione Infrastructures refinancing, France
Telecoms EuropeAxione Infrastructures' (AI) recent bond issue - to refinance 11 of its network concessions - saw the French company achieve long term financing of 11 years, a tenor longer than is typical for the telecommunications sector