Abertis and GIC are nearing financial close on the acquisition of 70% of Mexican highway network Red de Carreteras de Occidente (RCO), said a source close and two sources familiar with the situation. An Abertis spokesperson said the transaction was close to closing, which would be in line with Abertis’ estimation that the deal would reach

Mark Warner, the partner-in-charge of fund raising at Equis Funds Group in Singapore, has quit the firm to move back to the US, citing familial reasons, according to sources close to the matter. Warner could not be reached through the Singapore office and his Equis email bounced back. Read More

A fund owned by emerging markets investor Ashmore has acquired the Port Access and Cargo Corridor of Barranquilla from Colombian investors, according to a 28 May press release. Ashmore Andean Fund II acquired the concessionaire SF Convias S.A.S. for an undisclosed fee from Colombian developers Valores y Contratos (Valorcon), Coinses, A Construir,

China Tianying group has won a bid to develop a EUR 226m (USD 248m) energy-from-waste (EfW) project in France.  A consortium comprising China Tianying's overseas units - Urbaser Environnement and Urbaser S.A.U. - was awarded a tender to design, build, finance, operate, maintain and upgrade the Valor Béarn EfW Project in southwest France's

KKR Infrastructure has launched a new data centre platform targeting European investments which is expected to deploy at least USD 2.5bn (EUR 2.3bn) between debt and equity in new data centres in the coming years. The US investment firm said in a Wednesday (27 May) statement that it will invest at least USD 1bn of equity in the venture, mainly

Details have emerged of a portfolio of solar projects that Royal Dutch Shell-backed developer Silicon Ranch has under construction, executed offtake agreements for or has brought to commercial operation. The 2,164 MW (dc) portfolio is spread across 15 states. Read More

  A real asset-focused investment firm has agreed to acquire a district energy asset located at a U.S. Army base in Maryland from BlackRock’s Global Energy & Power Infrastructure Fund (GEPIF). In the deal, Harrison Street’s Social Infrastructure Fund is acquiring the Fort Detrick facility. Financial terms were not disclosed. Read

The Indian government has finalised a package to offset losses suffered by toll road developers from a 25-day suspension of collections, according to two sources familiar with the matter. The National Highways Authority of India - which operates under the Ministry of Road Transport and Highways - has sent a circular to its regional offices detailing

Stonepeak Infrastructure Partners has held a USD 6.2bn first close of its fourth infrastructure fund, with commitments coming from 45 investors, said two sources close to the situation. The New York-headquartered manager stated in a memo to its investors today (26 May 2020) that it had wrapped up a first close of Stonepeak Infrastructure Fund IV (SIF

  The department of Antioquia in Colombia has extended the tender timeline for the COP 773.5bn (USD 204.5m) Doble Calzada Oriente road project, according to a 23 May official document. The deadline for third parties to express interest in the project has been postponed to 22 July. It is the fifth time the department of Antioquia has postponed the

Tech conglomerate Tencent today said it will invest CNY 500bn (USD 70bn) in "new infrastructure" across the country in the next five years. Key investment areas will include cloud computing, artificial intelligence, blockchain, super computing centers, Internet of Things, 5G, cybersecurity and Quantum computing. Read More

Canada Pension Plan Investment Board (CPPIB) saw negative returns in infrastructure and energy and resources in fiscal 2020, ended 31 March, according to its fiscal 2020 annual report. Infrastructure returned -1% in fiscal 2020, compared to 14% in fiscal 2019. As of 31 March 2020, infrastructure comprises 8.6% of the total fund, up from 8.5% a

The economic lockdown and related volatility in power demand is providing an opportunity for faster renewable expansion in Europe. Hopes for new green stimulus policies have investors looking to the next phase of growth, report Jeremy Bowden and Colin Leopold   COVID-19 has thrown a bucket of cold water over electricity demand and prices

Italy's Eni will release an information memorandum on the sale of its Australian gas assets early in June with indicative bids due by the end of July, according to three sources familiar. The oil and gas company’s adviser on the sale, Citi, sent a flier out at the end of last week outlining the assets on offer and the rough timing for the sale,

London-based Niall Mills has been promoted to global head of unlisted infrastructure at First Sentier in a restructure of its investment team, said a source close. Formerly a partner in the infrastructure division, he has replaced Melbourne-based Perry Clausen, who has taken on the new role of global chief investment officer. Read More

Unlisted European roads and ports have lost up to 20% of their value due to the COVID-19 crisis, according to a report by PwC. The firm said in the report published on 19 May that declining traffic has knocked between 10% and 20% off the valuation of privately-held motorways on average. Read More

The history of infra investors acquiring publicly listed companies is a short one, but research by Inframation suggests there is much more still to be written. The recent share price premiums paid for telecoms and utilities should point the way, report Colin Leopold and Pablo Martinez    For almost 10 years, Macquarie’s EUR 1.48bn acquisition

Brazilian highway concessions have caught the attention of Spanish road operators, according to two sources familiar with the situation. Spanish transportation developers Copasa and Sacyr are considering entering Brazil's toll road market, according to two sources familiar with the companies’ plans. Read More

SunSuper has offered to sell its 1.95% stake in Perth Airport to fellow shareholders, three sources confirmed to Inframation. SunSuper has asked for at least a 30% premium on the post COVID-19 valuation of the airport, now being finalised by its shareholders, two sources close and one source familiar said. Local media reported the price was above

UK infrastructure investor John Laing has issued a process letter detailing the timetable for its Australian renewables sale, according to sources. Indicative bids are due at the end of June, they said. While the final bid date is not clear, one source expects submissions to happen in September. John Laing aims to close the transaction in the

Segra is holding a lender call tomorrow at 1 pm ET for a USD 275m incremental loan backing its acquisition of NorthState Telecommunications, sister publication Debtwire reported citing two sources familiar with the matter. Price talk for the loan is Libor+ 400bps with a 1% floor. It will mature in 2024 but is not fungible with the existing

German turbine manufacturer Nordex has put up for sale its European wind development platform, including a roughly 3 GW portfolio of development projects. Rothschild is advising on the sale, in an auction process code-named Project Pegasus, SparkSpread has learned. Non-binding offers are due on June 5, says a source. Read More

Canadian Solar is working with Sumitomo Mitsui Banking Corp. to raise debt to fund construction of its 125 MW (dc) Tastiota project in Mexico, said two sources familiar with the situation. SMBC is the sole structuring bank of the up-to USD 70m so-called “soft mini-perm” facility, which features an extended tenor and higher interest rate beyond

Thai renewables developer Blue Solar is looking for an equity investor in a 42 MW solar and 12 MW energy storage hybrid project, an official told SparkSpread. The project is expected to cost between USD 30-40m, and construction is expected to start early next year, Visait Hansaward, managing director at Blue Solar, said. Read More

The Sacyr-controlled SPV behind the Chacalluta airport in Arica, Chile, has secured a EUR 58m (USD 63m) credit line to fund the improvement and expansion of the asset, the Spanish company said in a 19 May press release. Banco del Estado de Chile provided the loan. Sacyr worked with in-house legal advisors, while Banco de Estado received legal

Four firms are known to be submitting a response to the RFQ for the first phase of the I-495/I-95 Capital Beltway P3 in Maryland, said multiple sources familiar with the situation. The statements of qualifications are due on 20 May after having been moved from 22 April due to coronavirus-related concerns. The teams currently involved in the

The Mexican Energy Secretariat (SENER) published a decree on Friday 15 May, that will reduce the role renewable generation plays in the Mexican power matrix. This provoked a critical reaction from diverse actors, said multiple market experts interviewed by Inframation for this story.  Read More

Belltown Power, a UK renewable energy developer, is in the market to raise a USD 25m development loan to support a 1.3 GW portfolio of solar projects in the PJM Interconnection. Cantor Fitzgerald is advising on the process, which is code-named Project Liberty, SparkSpread has learned. Officials at Belltown Power and Cantor declined comment

Afonso Salema, a director covering EMEA power & utilities investment banking, has resigned from Cantor Fitzgerald. London and Lisbon-based Salema is understood to have left the Wall Street securities firm at the end of last week. He was part of a team of more than two dozen energy and infrastructure investment bankers to join Cantor from Jefferies

At least one strategic and two financial investors are vying for a portfolio of US generation assets that an affiliate of Beal Financial Corp. recently put up for sale. The bidders include Avenue Capital-backed Middle River Power, Rockland Capital and Royal Dutch Shell, according to industry sources. Read More

As industry veteran Ben Loomes takes the helm of listed infrastructure investor John Laing, he will face two key questions: what will replace wind and solar in the company's investment strategy, and is a self-funding model still sustainable? Brendan Malkin reports  There is one aspect of London Stock Exchange-listed John Laing’s business model

AMP Capital is helping Stonepeak Infrastructure Partners fund its purchase of leading Taiwanese offshore wind developer, Swancor Renewable Energy, and bankroll the island’s largest-ever project. The Australian fund manager said on Monday it has completed a USD 145m mezzanine debt investment for 95% of Swancor Renewable and a 25% shareholding

Infrastructure and PPP plans worth billions of dollars are being prioritised in Thailand and the Philippines to drive economic growth post-COVID-19. Indonesia and Myanmar have procurement plans already. Eduard Fernandez studies if the enthusiasm from government can win over investors. With the COVID-19 crisis bringing markets across Southeast

Japan's Mitsui is marketing a portfolio of Chinese, Indonesian and Malaysian coal-fired power assets, according to multiple market sources. Morgan Stanley sent out a teaser marketing the portfolio earlier this month, the sources added.  The most substantial assets in the portfolio are Mitsui's stakes in the 2,045 MW Paiton Energy power plant

EDP Brasil has suspended negotiations to purchase a power transmission asset amid the COVID-19 crisis, according to a spokesperson. The company postponed talks as part of a measure to preserve its cash position and reduce operational costs, including a four-month delay on capex deployment for the transmission business, the spokesperson said. EDP

Airport owners in Australia and New Zealand hard-hit by COVID-19 were already scrambling to get waivers on their debt covenants when Virgin Australia collapsed last month. Shaun Drummond looks at what airports are doing to survive while the industry remains grounded Airlines go bust regularly. Airports do not, which is why infrastructure investors

Analysts have set a wide range of valuations between GBP 12bn and GBP 25bn for BT’s Openreach business, as the UK-listed company battles rumours that investors including Macquarie are preparing bids for the fibre business. UBS analysts said that they are “wary” of the idea that Openreach could sell at a premium to its mean capital employed

Digital infrastructure-focused fund manager Digital Colony yesterday said it has hired Singapore-based industry veteran Wilson Chung as principal, as part of its efforts to grow its Asia-Pacific presence. “Wilson will focus on identifying and evaluating Asia-Pacific investment opportunities,” the Florida-headquartered company said in a social

Californian developer Oceanus is raising development capital for an integrated pumped hydro and desalination project in northern Chile, according to the group’s financial adviser Energy Estate. The USD 550-650m project will treat over 1,000 litres per second of seawater and produce 200 MW of dispatchable energy as well as 16 hours of energy storage. Sydney-based

Tikehau Capital has entered into exclusive discussions to acquire Star America Infrastructure Partners, the French asset manager said on 14 May. Roslyn, New York-based Star America specializes in medium-scale infrastructure projects in the transportation, social infrastructure, environment and communications sectors. Star America had over

Hong Kong-listed CK Infrastructure Holdings (CKI) is in talks with various parties for potential acquisitions of new assets despite a slower due diligence process due to the COVID-19 pandemic.  The railway-to-water conglomerate will focus mainly on assets that could generate sufficient and steady returns as it actively seeks new investment opportunities

Korean Electric Power Co. (KEPCO) and LG CNS, a subsidiary of LG Corp., have reached financial close on a non-recourse debt package supporting a USD 200m solar-plus-battery project in Guam, a US territory in the Western Pacific, according to a KEPCO announcement issued yesterday. The two companies, which are sponsors of a project company named

Canada's Amp Energy is negotiating to buy Newcastle-based developer EPS' South Australian solar portfolio, according to sources close to the situation. Other parties have also been looking at the portfolio, one of the sources added. The portfolio consists of the 500 MW Robertstown Solar, 300 MW Yoorndo Ilga Solar and the 280 MW Bungama Solar

UK power developer Statera Energy has put up for sale a 300 MW portfolio of consented battery storage projects in the UK. Jones Lang LaSalle is advising on the sale, code-named Project Leo, and is in the process of taking first round bids. It is looking to complete the sale in the third quarter. Read More

Three senior private equity professionals have left Energy Capital Partners, including the head of midstream investments, as part of a downsizing of the firm’s Houston office. The three are Scott Rogan and Jeff Spinner, principals, and Enoch Varner, v.p. and counsel, SparkSpread has learned. Rogan headed midstream and downstream investments. Read

Palisade Investment Partners and First State Super have appointed RBC Capital Markets and Grant Samuel as financial advisers for a joint bid in the upcoming sale of John Laing’s Australian renewables portfolio, according to three sources familiar. Macquarie Capital is financial adviser to John Laing and is preparing to issue an information memorandum

US utility-scale battery storage outfit esVolta is quietly looking to raise corporate-level equity. Nomura Greentech, formerly Greentech Capital Advisors, is advising on the process, which is code-named Project Intrepid, SparkSpread has learned. Aliso Viejo, Calif.-based esVolta aims to raise some USD 250m in corporate-level equity, according

Taiwan is planning to launch a 1 GW-5 GW offshore wind tender in December, according to sources. The authorities previously planned to reveal the 2026-2035 third phase of its offshore wind development plan in late March, but the COVID-19 outbreak has delayed the process, a Bureau of Energy spokesperson told SparkSpread.  The offshore wind development

Infrastructure fund-backed Spanish toll road operators are expected to seek compensation for lost revenues during the COVID-19 crisis. But doing so could result in years of legal battles and fallouts with the Spanish government, Stefano Berra reports Toll road operators in Spain over recent weeks have focused on mitigating the impact of the COVID-19

Alinda Capital Partners hired Brian Rynott as a director focused on tangible assets including transportation and industrial assets, said a source close to the situation. Rynott will be based out of the Alinda’s Greenwich, Connecticut offices. Rynott was previously an executive in aviation, having had prior stints as a managing director at Alton

IFM-backed energy storage company VTTI has made its first move into China with the acquisition of a 50% stake in the Dalian chemicals storage terminal from Odfjell Terminals for USD 59m (EUR 54.5m). The acquisition, which has completed, broadens VTTI’s chemicals storage portfolio and provides it with further growth opportunities in the region,

Basalt Infrastructure Partners has completed a USD 1.2bn first close of its third infrastructure fund, with 85% of commitments coming from the firm’s existing investors.   The London-headquartered fund manager launched Basalt Infrastructure Partners III (BIP III) last year with a fundraising target of USD 2bn and has been holding a rolling

Traffic studies are being re-assessed as COVID-19 threatens the future profitability of revenue risk projects such as toll roads and airports. Jonathan Carmody explores how major LatAm countries Colombia, Chile and Mexico are assessing the viability of these projects.   Strict lockdowns on movement and businesses imposed across Latin America

Privately-listed Transtelco Holding is looking to expand into Latin America as it looks to scale up its broadband business, said CEO Miguel Fernández in an interview with Inframation. The El Paso, Texas-based company owns and operates a dense fiber-optic network that spans over 22,000km (13,670 miles) from California to Texas and throughout Mexico

Macquarie Infrastructure and Real Assets has made strong progress on fundraising this year despite the coronavirus pandemic, but executives remain cautious about the outlook.  The infrastructure manager raised about AUD 3.5bn (USD 2.3bn) in April largely from existing products, London-based head of Macquarie Asset Management Martin Stanley

The APA Group is pressing ahead with plans to acquire a US gas company but its head of North American strategy said finding a suitable target is proving difficult amid the coronavirus lockdown. The Australian gas pipeline operator has identified 169 large pipelines and 145 local distribution companies (LDCs) in the US with a combined value of USD

Allianz Capital Partners' US head of renewables, Iain McMorrine, has retired after 15 years with the global investment manager. McMorrine stepped down from the London and New York based role at Allianz on 30 April. An Allianz spokesperson confirmed his retirement and said the firm has yet to appoint a successor.  McMorrine could not be

A Mizuho affiliate that manages Japan’s first project finance debt fund is pushing ahead with its second vehicle and has eyes on a third. With COVID-19 testing asset liquidity and ever tighter bank regulation looming, Asian infra debt funds may be on the cusp of having their day in the sun. Ella Arwyn Jones reports. As the world continues to