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PPCR extends biomass EOI deadline
23 February 2018

PPC Renewables (PPCR) has extended the deadline for expressions of interest for an equity partner to develop, finance, build and operate a combined heat-and-power (CHP) biomass plant in Amyntaio, Greece. The new deadline is 9 March 2018.

Levvel wins Afsluitdijk dam
23 February 2018

Rijkswaterstaat has appointed the Levvel consortium – comprising BAM PPP, PGGM, Van Oord, Aberdeen Infrastructure Partners and Rebel Group &ndas...

12 qualify for Shuqaiq 3 IWP tender
23 February 2018

Saudi's Water & Electricity LLC (WEC) has qualified 12 developers to bid for the 380,000-cubic-metres-per-day Shuqaiq 3 reverse osmosis independent water project (IWP). The qualifiers are: ACWA Power; Acciona Agua; Cobra; Engie; FCC Aqualia; JGC; Marubeni; Mitsubishi; Suez; Sumitomo; Valoriza; and Veolia. Bahr Rawafied, SNC Lavalin and Marafiq have also been qualified as technical members. SMBC, DLA Piper and ILF-Tecon & Partners Engineering PSC are acting as advisers for WEC.

Afreximbank; New roles for Obi Emekekwue and Chandi Mwenebungu
23 February 2018

The African Export-Import Bank (Afreximbank) has named Obi Emekekwue as Director and Global Head of the Communications and Events Management Department, while Chandi Mwenebungu becomes Director of the Treasury and Markets Department. Prior to the appointments, Mr Emekekwue and Mr Mwenebungu were respectively heads of the Communications and Treasury functions at the lender.

Kingfisher completes purchase of 13.5MW of CTF Solar assets
23 February 2018

The BlackRock Real Assets and Lighsource partnership Kingfisher has acquired three UK solar assets from China Triumph International Engineering Group unit CTF Solar. The 5MW Wormit Farm in Fife, the 3.6MW Stanton under Bardon farm in Leicestershire and the 4.9MW Gretton array in Gloucestershire were acquired for £15 million.

Plains fully committed for Cactus II crude pipeline
23 February 2018

Plains All American has announced that it has long-term shipper contracts for 90% of its initial capacity on the Cactus II crude pipeline project. The 515-mile pipeline system will transport crude from all the major producing areas in the Permian Basin to Corpus Christi port and Ingleside. Trading firm Trafigura is the anchor shipper with a 300,000 b/d commitment made in late January.

Site lease approval for 250MW Salton Sea geothermal project
23 February 2018

The 250MW geothermal project being developed by Controlled Geothermal Resources on the southern shore of the Salton Sea, near Calipatra in California, has received approval on a lease agreement by the Imperial Irrigation District board. Plans are already being made to scale up the project to 350MW capacity.

Turkey planning 1GW of wind and solar tenders in summer
23 February 2018

Turkish Energy Minister has stated that tenders for 1GW of wind and solar capacity are being prepared and should be finalised before summer as part of the country's plans to add 10GW of renewable power generation in the next decade.

BHEL awarded captive power plant contract at Visakh Refinery
23 February 2018

Bharat Heavy Electricals Limited (BHEL) has secured a $159 million captive gas-fired power plant project from Hindustan Petroleum Corporation (HPCL) as part of the $3.2 billion Visakh Refinery expansion in Visakhapatnam, Andhra Pradesh.

Singapore considers infrastructure debt guarantees
23 February 2018

The government of Singapore is considering providing state-owned companies and statutory boards guarantees to encourage investments in large infrastructure projects according to the Minister for Finance in his budget statement. The government will also set up a new rail infrastructure fund in 2018 with an initial S5 billion commitment.

Canadian Solar completes UK solar portfolio sale to Greencoat
23 February 2018

Canadian Solar has completed the sale of a 142MW portfolio of 24 operational solar plants spread across England, Wales and Scotland to Greencoat Capital's Solar II LP for £191.2 million. The projects will provide revenues over 20 years under the UK's Renewable Obligation Certificate (ROC) and Feed-In Tariff (FIT) schemes.

ADB, B.Grimm Power expand support for renewable energy in ASEAN
23 February 2018

The Asian Development Bank has signed a loan equivalent of up to $235 million with Thailand's B.Grimm Power to develop and enhance renewable energy capacity in member countries of the Association of Southeast Asian Nations. B.Grimm Power's total distributed power generation capacity is expected to increase by over 50% to 2,500MW by 2022, while the renewable energy share in its portfolio will rise from 10% to 30%.

Louisiana seeks PPP options for Belle Chasse Bridge and Tunnel

Louisiana Department of Transportation and Development (DOTD) has issued a Notice of Intent soliciting companies interested in carrying out the Belle Chasse Bridge and Tunnel replacement project as a PPP.

Siemens Gamesa secures supply and operation contract on Balkan wind project
23 February 2018

Siemens Gamesa has secured an 18-turbine order with a five-year operation and maintenance contract from F.L. Wind for the 36MW Jelovaca wind farm development in the north of Bosnia and Herzegovina.

First Quantum drops Cobre Panama project financing
23 February 2018

First Quantum is offering $850 million of senior notes due 2024 at 6.5% per annum and $1 billion of senior notes due 2026 at 6.875% per annum. Proceeds will repay a term loan and revolving credit facility entered into in October 2017. The offering will also fund remaining capital expenditure relating to the Cobre Panama project resulting in the company no longer needing o pursue a $2.25 billion project financing for the open-pit copper development.

Southern Copper wins Peru's Michiquillay mining auction
23 February 2018

US-based mining company Southern Copper has submitted the best bid for the Peruvian Michiquillay copper-gold-silver-molybdenum project run by the state investment promotion agency ProInversion. The winning offer of $400 million for the property plus a 3% royalty beat Milpo into second place. Seven prequalifiers, including Rio Tinto, declined to submit bids.

NEXI provides equity support for Gulf of Suez wind
23 February 2018

NEXI has provided insurance to support Japanese equity and a parent guarantee on subordinated loans for the Gulf of Suez (Ras Ghareb) onshore wind IPP project in Egypt. The cover is for investments made by Toyota Tsusho Corporation and Eurus Energy and the guarantee is offered by their parent company. NEXI also provided insurance to support commercial bank loans for the project in December 2017. Ras Ghareb Wind Energy - a joint venture between Toyota Tsusho, Eurus, Engie and Orascom - will build, own and operate the 262.5MW plant in Ras Ghareb municipality, on the Gulf of Suez. The project benefits from a 20-year power purchase agreement with the Egyptian Electricity Transmission Company.

World Bank may refinance Uganda's Bujagali hydropower project
23 February 2018

The World Bank is considering a refinancing package for the controversial Bujagali hydropower project in Uganda - a 250MW hydropower station built on the River Nile - amid a campaign from civil society groups and the bank's own watchdogs. The project was funded by the World Bank, European development finance institutions, and private financing in 2012 but needs additional financing to make the electricity it produces more affordable to Ugandans. Activists have urged the bank to use the refinancing deal as an opportunity to settle outstanding compensation claims from impacted communities; and to push the Ugandan government to protect a key ecological site downstream.

EDB to invest €196.9m in Bogatyr Komir project
23 February 2018

The Eurasian Development Bank (EDB) and Kazakh mining group Bogatyr Komir signed a €196.6 million loan agreement to finance the modernisation of coal production processes at the Bogatyr mine near the city of Ekibastuz, in Pavlodar province, by introducing continuous mining technology. This is expected to raise output to 50 million tonnes, improve the quality of end products, cut mining costs, and reduce adverse environmental impacts.

Afreximbank targets $1.5bn in financing in Mauritania
23 February 2018

The African Export-Import Bank (Afreximbank) will attract $1.5 billion to Mauritania to finance the development of trade and related infrastructure after signing a memorandum of understanding with the country. $500 million would go to the development of the private sector in the form of credit lines through local banks. The other $1 billion would be raised by Afreximbank after evaluating eligible projects that support the construction of trade-facilitating infrastructure, industrial parks and special economic zones and fish processing.

Opportunity of the day: Enel likely to engage with international banks for $178m Russian wind power project

Enel SpA is likely to engage with international banks to raise finance for building a $178 million wind park at Azov, Rostov Oblast in Russia, said a source at Sowitec Russia, a subsidiary of the German firm Sowitec Group GmbH. Enel was awarded the EPC contract by Sowitec in 4Q17. The 90MW project, which will be located in the Don River region in the southwest of the country, will be connected to the national grid, the source added.

Almaty Ring Road PPP nearer to realisation
22 February 2018

The heavily DFI-backed Almaty Ring Road (BAKAD) PPP project in Kazakhstan has reached commercial close – 16 years since first being approved by ...

Cross River Rail PPP bidders shortlisted
22 February 2018

With three bidding groups shortlisted by the Cross River Rail Authority (CRRA) for the PPP portion of the A$5.4 billion ($4.23 billion) Cross River Ra...

CleanCapital hires new Head of Acquisitions and General Counsel
22 February 2018

NewYork-based financial technology company CleanCapital has appointed Melinda Baglio to head up both the legal and acquisition teams. Baglio was formerly in the Energy infrastructure Project and Asset Finance group at White & Case.

IWAI appoints KPMG to advise on Jal Marg Vikas Project

The Inland Waterways Authority of India (IWAI) has appointed KPMG to develop an asset management and operation framework for capacity augmentation of navigation on the Haldia-Varanasi stretch of National Waterway-1 (Ganga) as part of the World Bank-supported Jal Marg Vikas Project (JMVP. KPMG will also develop a plan to encourage investment in PPP projects involving freight movement and multimodal logistics parks.

Ashurst advises on Australian Unity A$740m hybrid financing
22 February 2018

Law firm Ashurst has advised Australian Unity Funds Management Limited on a hybrid corporate finance and project finance facility agreement. The A$740 million facility refinances Australian Unity Healthcare Property Trust (HPT) corporate debt and includes A$320 million to fund construction of a new public hospital in Brisbane called the Specialist Rehabilitation and Ambulatory Care Centre (SRACC).

China Shandong selected for Republika Srpska road concession
22 February 2018

China Shandong International and Technical Cooperation has been selected to build and operate the 42km Banja Luka-Prijedor motorway in the Bosnian autonomous region of Republika Srpska. The cost of the 25-30 year concession is expected to be around €298 million.

Avaada Power to develop 1.6GW of solar in Uttar Pradesh
22 February 2018

Indian renewable energy developer Avaada Power has signed an MoU with the Government of Uttar Pradesh to invest $1.55 billion to develop 1.6GW of solar projects across the Mirzapur, Badun, Gorakhpur and Bundelkhand districts. Uttar Pradesh is aiming to add 2GW of solar capacity annually.

VRS awards Pantheon a $200m infrastructure fund mandate
22 February 2018

Pension fund Virginia Retirement System (VRS) has committed $200 million to an account with Pantheon to diversify an infrastructure portfolio that includes stakes in Icon Infrastructure IV and EQT Infrastructure Fund III.

First Solar set for 200MW Twiggs County solar project
22 February 2018

First Solar is planning to start construction of the US' largest solar project in the southeast in November 2018. The 200MW facility, located near Warner Robins, in Twiggs County was awarded by Georgia Power as part of a 525MW Request for Proposals under its Renewable Energy Development Initiative (REDI).

HSL plans tender for regional railway operator

Helsinki Regional Transport (HSL) will begin the process of procuring an operator for the Finnish capital's suburban rail network. The cost of the operations and maintenance contract is estimated at €50-60 million and will have a minimum duration of ten years. An invitation to tender will be issued in spring 2019 with the winning bidder to be announced a year later. National rail operator VR Group has confirmed its intention to bid.

Limak Insaat signs with Kuwaiti banks for airport financing
22 February 2018

Turkish contractor Limak Insaat has signed a KD249.2 million ($830 million) syndicated credit agreement with the National Bank of Kuwait (NBK) and Kuwait Finance House (KFH) to partly finance the construction of a new passenger terminal at Kuwait International Airport.

EIB and Raiffeisen Leasing join forces to boost SMEs
22 February 2018

The European Investment Bank has signed an intermediated loan agreement of €30 million with Raiffeisen Leasing Bulgaria to finance projects of small and medium-sized enterprises and mid-cap companies. The partners expect that the loan will benefit more than 150 companies operating in Bulgaria in agriculture, manufacturing, transportation and storage.

Port of Rotterdam signs agreement for waste-to-chemical facility
22 February 2018

A consortium of Air Liquide, AkzoNobel Specialty Chemicals, Enerkem and the Port of Rotterdam have agreed to develop a €200-million waste-to-chemistry facility in Rotterdam to convert non-recyclable mixed waste, including plastics, into clean methanol for use in the chemical industry. Dutch Rabobank has been appointed as the lead advisor for the financing process. The project is supported by the city of Rotterdam, the Province of Zuid-Holland and regional development agency InnovationQuarter.

BayWa r.e. plans 175MW Don Rodrigo solar project in Spain
22 February 2018

BayWa r.e. Solar Projects' special project vehicle Sunshine Latin has signed an agreement with the Spanish municipality of Alcala de Guadaira for the construction of the 175MW Don Rodrigo solar power plant and transmission line for a total investment estimated at €102 million.

EDB: Member states' economic growth to speed up to 2.2% in 2018
22 February 2018

Eurasian Development Bank (EDB) analysts forecast positive economic growth in the lender's member states and a 2.2% increase in the region's GDPs in 2018. In Armenia GDP is expected to rise by 3%, Belarus 2.6%, Kazakhstan 3.7%, Kyrgyzstan 4.2%, Russia 2%, and Tajikistan 7.3%. At the end of 2017, the region's GDP grew by 1.8%, compared to a decline of 0.1% in 2016.

New Romanian Development Bank to focus on SMEs and projects
22 February 2018

The draft bill for the creation of the Romanian Development Bank has been approved by the Senate. The lender is set to focus on financing small and medium-sized enterprises, through the state aid measures, and large infrastructure projects. The state-owned bank will have an initial starting capital of RON 1 billion (€214 million).

Finnvera releases 2017 financial results
22 February 2018

Finnvera, Finland's export credit agency, reported granted loans and guarantees worth €782 million in 2017, a 7% drop of the 2016 figure of €845 million. The group's profit for the period hit €107 million, up from €70 million in 2016.

SACE backing helps Kiton fabrics warm international markets
22 February 2018

SACE has insured a €1 million loan issued by Crédit Agricole Italia Banking Group to support the international market growth of Lanificio Carlo Barbera, a Campania-based SME of the Kiton group specialised in the production of high-quality fabrics.

Opportunity of the day: Besix-Hitachi consortium wins EPC contract for $680m Dubai WTE project

Dubai Municipality has awarded the EPC contract for its $680 million waste-to-energy (WTE) project to a consortium that includes BESIX Group and Hitachi Zosen Corporation's subsidiary Hitachi Zosen Inova, said Lucile De Bruyne, the bid manager at BESIX. With the project management team still being set up, the project is on the bid manager's table at present, and will be so until the project site is open for construction.

More details on A10/A24 motorway PPP
21 February 2018

Sponsors of the €650 million ($810 million) A10/A24 Neuruppin-Pankow A-Model motorway PPP –  BAM (70%) and Habau (30%) – reached...

Formosa 1 in talks with ECA
21 February 2018

Sponsors of the Formosa 1 offshore wind project in Taiwan – Macquarie Capital, Orsted and Swancore Industries – are expecte...

Turkey's Calik Enerji to build 50MW wind farm in Georgia
21 February 2018

Georgia's Vice-Premier and the Minister of Economy and Sustainable Development has announced that Turkish energy company Calık Enerji, with assistance from the Energy Development Fund of Georgia, will build a 50MW wind farm in the Central Georgia (Shida Kartli) region at an estimated cost of $75 million.

TransAlta to acquire two US wind farms
21 February 2018

Independent energy company TransAlta Renewables has entered into an agreement to acquire a 90MW wind project in Pennsylvania with a 15-year PPA and a 29MW New Hampshire project with two 20-year PPAs. Total costs for the construction-ready projects is estimated to be $240 million and will be funded using existing liquidity and tax equity.

China Energy handed EPC contract for Nigeria's 400MW Sagamu power project
21 February 2018

China Energy Engineering has been given the engineering, procurement and construction contract by Sagamu Independent Power Plant (SIPP). The 400MW combined cycle gas-fired power project located in the Ogun State of Nigeria is estimated to cost $550 million.

IsDB set to issue largest Sukuk for $2.5bn
21 February 2018

The Islamic Development Bank (IsDB) is set to soon issue its largest Sukuk for $2.5 billion. The Saudi Arabia-headquartered bank has a $1.5 billion Sukuk maturing this year.

Bipartisan group of House lawmakers urge action on US Ex-Im nominees
21 February 2018

A bipartisan group of 68 House lawmakers are urging Senate leaders to get the Export-Import Bank of the United States fully operational again. “We believe the Senate should move forward expediently in approving these nominees so that Ex-Im can continue to play the important role it has in past years, supporting US exports and creating and maintaining US jobs,” the letter said.  US Ex-Im has been without a quorum on its board since 2015, preventing the agency from making deals of more than $10 million. The five-member board needs at least three spots filled to make those transactions.

GM proposes $2.8bn investment in South Korea operations
21 February 2018

General Motors has proposed an investment of $2.8 billion into its loss-making South Korean operations over the next ten years and has asked Seoul to provide its share of the funds throuh the Korea Development Bank. GM owns 77% of its South Korean unit GM Korea, while state-run KDB owns a 17% stake.

GEL tenders first geothermal project in UK
21 February 2018

Geothermal Engineering Ltd (GEL) has launched a tender for a 3.15MW geothermal power generation plant at the United Downs Deep Geothermal Power project, near Redruth in Cornwall. The project is co-financed by the European Regional Development Fund. The deadline for submissions is April 6.

ADB agrees $360m loan for rolling stock to boost Bangladesh Railway
21 February 2018

The Asian Development Bank (ADB) has approved loans totaling $360 million to buy modern rolling stock and support reform in Bangladesh Railway to help promote a shift from roads to rail. Bangladesh Railway will procure 40 broad gauge locomotives, 125 luggage vans, and 1,000 wagons for freight trains for use on major lines of the rail network.