The African Export-Import Bank (Afreximbank) and Attijariwafa bank have signed a memorandum of understanding to collaborate in developing a large framework of cooperation in trade across Africa. They will also work on cofinancing projects.
KPN Group company Wind Energy Holding (WEH) has reached financial close on five onshore wind farm projects totalling 450MW of capacity in Northeast Thailand's Nakhon Ratchasima and Chaiyaphum provinces. The THB37 billion ($1.14 billion) financing was arranged by Siam Commercial Bank (SCB).
The Indian state-owned Karnataka Renewable Energy Development Limited (KREDL) has issued a request for proposals for up to 860MW of solar projects. The total allocation is made up of 20MW of capacity in 43 separate subdivisions of districts known as taluks, with the minimum for individual projects set at 3MW. A 200MW allocation has been reserved for module manufacturers in the state. Deadline for submissions is 8th January 2018.
Mexican Energy Secretariat SENER has released the draft terms for a tender to connect Baja California via a 1,400km line to the main grid that will have the potential to export power to the US. The $1.1 billion project will enable the transmission of power from 2GW of gas-fired generation currently under construction and the planned 700MW of wind and 1GW of solar capacity in the region. This is the first time private companies will be able to bid on a transmission project in the country.
Gascoyne Resources subsidiary GNT Resources has agreed a A$60 million, 54-month debt facility with the Commonwealth Bank of Australia and National Australia Bank to fund the development of its Dalgaranga Gold project.
Gascoyne Resources subsidiary GNT Resources has signed a six-year PPA and four-year extension option with Zenith Energy to build, own and operate a 15MW gas-fired power plant to supply the Dalgaranga Gold project in the Murchison mining region of Western Australia.
Abu Dhabi National Oil Company (Adnoc) has priced the initial public offering for its fuel distribution unit at Dh2.5, which is at the lower end offer price and values the 10% of stock at Dh3.1 billion ($843 million). Citigroup, First Abu Dhabi Bank, HSBC Bank and Merrill Lynch International are coordinating the sale. EFG-Hermes UAE, Goldman Sachs Group and Morgan Stanley are joint bookrunners with Rothschild & Co as the sole financial adviser.
The latest request for qualifications issued by Infrastructure Ontario (IO) and Metrolinx covers the design, building and financing of improvements to the infrastructure for the Lakeshore West Corridor as part of the expansion of the GO Transit rail service in the Greater Toronto and Hamilton Area.
Maoneng Australia and Decmil had signed a memorandum of understanding to build the 250MW Sunraysia solar PV project near Balranald in New South Wales. The $275 million construction is planned to start in April or May and would make the facility the largest in the southern hemisphere.
The Kuwait Authority for Partnership Projects (KAPP) has awarde the Umm Al-Hayman Wastewater project to a consortium comprising of the German company WTE Wassertechnik and the local International Financial Advisors KSCC. A public joint stock company will be established to build, operate and manage the 25-year concession.
The parliament of Sierra Leone has ratified a 25-year PPA and implementation agreements signed by the government for the Bumbuna II hydro power project. Joule Africa and Energy Services Company (ESCO) owned project company Seli Hydropower will construct a new dam and add 143MW of capacity on a build-own-operate basis 30km upstream from the existing 50MW government-owned Bumbuna I.
Enel Green Power SpA plans to present a new offer for its 100MW Pampa Chubut wind power park for Argentina's national renewable energy tender RenovAr 2.5, according with Maurizio Bezzeccheri, Enel Argentina country manager. In an exclusive interview with this news service, Bezzeccheri said that the renewal energy unit of Enel SpA plans to improve its original offer from USD 40.85 per MW to lower than USD 40.27 per M
The African Development Bank (AfDB) has approved $324 million in loan support to two renewable energy projects in Morocco and Ivory Coast. In Morocco, the bank's commitment of $265 million will help develop two solar power plants (NOORM I and NOORM II). In the Ivory Coast, the Singrobo-Ahouaty project involves the design, construction and operation of a 44MW hydropower plant on the Bandama River.
The African Export-Import Bank (Afreximbank) is to collaborate with the Export Development Bank of Egypt (EBE) on a $500 million Export Credit Support Scheme aimed at supporting exports and investments by Egyptian businesses to other African countries.
The Guernsey registered investment company Sequoia Economic Infrastructure Income Fund has secured a £100 million, 3-year revolving credit facility at 210 basis points over LIBOR and has structured a further £50 million incremental accordion tranche. The Royal Bank of Scotland International Limited was the Mandated Lead Arranger with ING Bank and Investec acting as Arrangers. Sequoia's £40 million secured loan with JP Morgan Chase Bank has been repaid in full.
Canadian Solar subsidiary Recurrent Energy has signed a 20-year power purchase agreement with public transit network operator Bay Area Rapid Transit (BART). BART's first solar purchase will be supplied from 45MW Gaskell West 2 PV project located in southern California.
Leyte Metropolitan Water District (LMWD) has awarded Manila Water (an Ayala subsidiary) an integrated water supply and sanitation DBFOM project. The PPP concession grants sole and exclusive rights to operate and maintain the 27 million litre per day project, and the right to bill and collect tariffs for the provision of water in LMWD's service area which covers Tacloban and seven municipalities in the province: Palo, Tanauan, Dagami, Tolosa, Pastrana, Tabontabon and Santa Fe.
Connor, Clark & Lunn Infrastructure has closed two separate 19-year private placements - a $188 million bond for the Windsor solar project and $171 million for the Southgate solar project. The bonds refinance existing bank debt on both projects which have been operational since 2016. RBC led the offerings which are priced at a 4.159% coupon.
EDF Renewable Energy has presented a proposed 200MW wind project, known as Redwood River to the Lyon County Board in Minnesota. EDF is currently conducting weather and environmental studies and is looking for permitting from the Public Utilities Commission in 2019.
The board of regional transmission organisation PJM that operates as part of the Eastern Interconnection grid in the US has authorised 10 transmission projects in its Mid-Atlantic region and two in its western region for an investment of $318 million. Two larger projects to alleviate reliability issues in northern New Jersey will each cost $80-90 million.
The Basel Committee on Banking Supervision has finally inked new rules on how banks estimate the risk of loans and other assets. Basel III - a compromise reached after fierce lobbying from the banking industry - causes no significant increase in overall capital requirements according to the regulator. And for some banks, capital demands actually decline.
Japan could consider joining China's Asian Infrastructure Investment Bank (AIIB) if it makes some changes. "One issue would be cooperation with the Asian Development Bank, which is led by Japan," said Yoshihisa Inoue, secretary general of Japanese Prime Minister Shinzo Abe's junior coalition partner, Komeito.
A group of at least seven local companies are in exploratory talks about the Philippines' Ninoy Aquino International Airport (NAIA) modernisation project, valued at P74.5 billion ($1.4 billion). Interested companies include Aboitiz Equity Ventures, Alliance Global Group, Ayala Corp, Filinvest Development, JG Summit Holdings, LT Group, and Metro Pacific Investments Corp. The San Miguel Corp has also expressed an intention in bidding for the project separately.
The Energy Commission of Malaysia, on behalf of national power utility TNB, has awarded Korean company Hanwha Energy a 48MW solar project located in Perlis, in the West Coast of Peninsular Malaysia, on a build-own-operate basis.
Total and Angolan's state-owned oil and gas company Sonangol have signed a number of agreements including restarting exploration offshore in Angola, developing Zinia Phase 2 on Block 17, cooperation on new oil product distribution and pursuing renewable energy opportunities.
TransAlta Corporation and Tidewater Midstream and Infrastructure have announced a Letter of Intent for the development of a 120km gas pipeline linking the Brazeau River Complex in Canada to generating units at Sundance and Keephills, enabling TransAlta to convert coal-fired units to gas and extend the life of the power plants.
Japanese firm Dai-ichi Life Insurance Company has announced the provision of a Yen 4.5 billion long-term loan to a consortium for the acquisition of the shares in the UK railway concession High Speed 1 between London and the English Channel. Dai-ichi Life will also invest in its first Australian project with a Yen 4.4 billion loan for AquaSure's Victorian Desalination Project concession.
Members of the Banking Committee of the Nigerian Senate and the Banking and Currency Committee of the House of Representatives have pledged to accelerate the enactment of the factoring bill, currently in the Nigerian legislature, to ensure that it was passed into law by the first quarter of 2018.
The EIB has agreed a €100 million financing with Cellnex Telecom to improve and expand the capacity of mobile broadband telecoms infrastructure in Spain and Italy. The funds will back construction of new telecoms towers as well as fibre optic and radio link connections to mobile operator networks.
The Asian Development Bank has approved a $346 million loan to upgrade highways in the Indian state of Karnataka. The project will improve 419km of road, upgrading them to two and four-lane widths with paved shoulders, depending on traffic needs, and improving culverts and bridges.
The Export-Import Bank of China has agreed a $153 million loan facility to Zimbabwe for the upgrade of the Robert Gabriel Mugabe International Airport. The loan, which carries a concessionary 2% interest rate, is payable over 20 years.
The financing will support the construction of 151km of road connecting the towns of Qaisar and Dari Bum in northwestern Afghanistan. The road is the last section of the 2,200km ring road that connects Afghanistan's major cities.
The Myingyan IPP financing – Myanmar’s debut in the project finance market – has set the blueprint for future deals. But considerable regulatory change is still needed to move the market from DFI-backed projects to pure commercial bankability.
Following a recent £45 million investment in facilities, Manchester Airport Group (MAG) has sold Bournemouth Airport to Regional and City Airports (RCA), the airports management division of Rigby Group for an undisclosed sum.
California-based solar company SunPower Devco has received preliminary approval for its proposed 20MW solar project in Norge, Virginia, from James City County planners who will recommend it to the Board of Supervisors.
The Foresight Group has announced the launch of the FP Foresight UK Infrastructure Income Fund that will target a 5% annual return on investments in UK listed renewable energy and infrastructure equities and bonds.
Rolling stock leasing company Angel Trains Group has arranged £835 million of new funding to refinance the procurement of 665 Bombardier multiple-unit cars that will be used by Abellio on the UK's East Anglia rail franchise from 2019.
An IMF delegation in Pakistan for meetings with the Ministry of Planning & Development and the Ministry of Finance has expressed concerns about the repayment implications for the portfolio of CPEC projects which is currently valued at nearly $60 billion. The IMF estimates repayments will peak after seven years, reaching up to $4.5 billion per year with an impact equivilant to 1.6% of annual GDP by 2024.
The head of KEPCO, and former Korean vice minister of trade, industry and energy, has offered to step down following the announcement that the Toshiba Corp. has selected Korea Electric Power Corp.(KEPCO) as the preferred bidder to buy a stake in its NuGen consortium developing the Moorside nuclear project in the UK.
The Welsh Isle of Anglesey County Council has granted planning permission approval for the proposed 49.9MW solar plus storage project submitted by Countryside Renewables (North Anglesey) Ltd. It adds to the island's energy developments that include onshore wind farms, the Wylfa nuclear power station, and the Skerries tidal array.
The EBRD is providing loans worth a total of €47 million to the Serbian railway passenger operator JSC Srbija Voz to finance the expansion and upgrade of a maintenance depot in Zemun on the outskirts of Belgrade.
The Marguerite Fund has sold a portfolio of five operational assets to global private markets fund investor Pantheon. The assets include interests in two offshore wind farms of Butendiek in Germany and C-Power in Belgium, the Autovia del Arlanzo shadow toll road in Spain, and full ownership of French solar plants Toul-Rosieres 2 and Massangis.
The governments of Israel, Cyprus, Greece and Italy have signed a quadrilateral MoU for the development of the €6 billion Eastmed Pipeline project to connect Israel's Leviathan gas field to Europe via a 2,000KM pipeline. Joint venture company IGI Poseidon, set up by Greece's DEPA and Italy's Edison, will develop the project with EU backing.
Canadian Solar has secured a 17.87MW PV project in Suzuhari City, within Hiroshima prefecture, in Japan's inaugural solar energy auction. Chugoku Power Electric Company will purchase output for 20 years at Yen17.97 per kWh.
Export credit agency SACE is to commit €125 million to support 40 Italian subcontracts for the construction of a new power station awarded to GE Power and Gama Power consortium by Bahrain's Alba. The Power Station 5 will be connected with the Line 6 Expansion Project.
The Russia-Japan Investment Fund - launched by the Russian Direct Investment Fund and Japan Bank for International Cooperation - has invested in the Russian pipeline operator, Transneft, the infrastructure through which up to 85% of the oil produced in Russia, and 26% of oil products, are transported.
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