China's Silk Road Fund has agreed to acquire a 49% stake in Saudi Arabia’s ACWA Power Renewable Energy Holding (ACWA Power RenewCo). The USD 40bn fund sovereign wealth fund has signed an agreement with ACWA Power to invest in the renewable power developer, which owns a number of existing projects across the Middle East and Africa, according to an ACWA

Several international firms are interested in acquiring Sempra’s Peruvian electricity distribution and generation company Luz del Sur, according to multiple sources briefed.  According to three sources following the process, interested bidders for Sempra’s 83.74% stake include:  Brookfield China Three Gorges iSquared Southern Power Grid CPPIB OTPP One

A consortium including IST3 Infrastruktur Global will acquire the Alberta PowerLine (APL) from Canadian Utilities and QSI Finance Canada in CAD 1.7bn deal (USD 1.28bn). UPDATE: This article was updated to provide additional details on the debt being used to fund a portion of the deal. The international consortium will acquire up to 100% of APL for

Summit Partners is exploring options including a sale of its minority stake in the French fibre business Sipartech, a process likely to attract infrastructure funds, sources following the process said. The US investment fund has appointed Lazard to advise on the process, the sources said. Sipartech operates nearly 3,000km of fibre networks that connect

Taiwan’s Swancor Holding is planning to exit offshore wind business through the sale of its renewable unit to a European or an American energy company, according to a stock exchange release. The Taipei-listed firm announced midnight yesterday (20 June) that the transaction will fetch between USD 25.98m-USD 101m and realise an estimated net gain of USD

Three teams have been shortlisted for the CAD 2.8bn (USD 2.1bn) Millennium Line Broadway Extension (SkyTrain) P3 in Vancouver, Inframation has learned. The three shortlisted teams are as follows, according to a source close to the procurement: Aecon, Dragados, Hatch, ACS (financial advisor), WSP SNC Lavalin Acciona, Grupo Ghella, Mott MacDonald,

Consultancy Deloitte has expanded its London-based infrastructure capabilities with the recruitment of BNP Paribas’ head of corporate structured finance Philip Adam as a partner in its debt advisory practice, sources said.  He will be part of the debt advisory practice led by Chris Skinner, but will support the infrastructure M&A team for EMEA led

Despite no material updates since February, Lendlease remains committed to selling its troubled Engineering & Services division, according to three sources. The ASX-listed property developer is bent on exiting the civil construction sector and has received indicative bids from several local and offshore parties, said the first source close to the matter,

Caroline McGeough, a former principal focused on power, renewables and utilities investing at Stonepeak Infrastructure Partners in New York, has joined infrastructure firm Sidewalk Labs as a principal. Sidewalk Labs is working with the Canadian government, the province of Ontario and an affiliate of Google parent company Alphabet to lead the renewal of

Daiwa Energy & Infrastructure (DEI) acquired a minority stake in Austria’s Swimsol through new shares issued by the Vienna-based solar system developer, a senior official told Inframation. The move is part of DEI's efforts to double its energy and infrastructure assets to JPY 100bn (USD 922m) from JPY 50bn now, the official said. The official did

The original proponents of a USD 256m water treatment project are to seek compensation for development costs and a financial guarantee letter, said two sources involved. Acciona and ACS’s subsidiary Tedagua were the originators of the private initiative to construct water treatment plants around Peru’s Lake Titicaca, but their bid was disqualified

Spain’s Santander and France’s Crédit Agricole will launch a sale process for Abengoa’s 220MW cogeneration plant A3T in the coming weeks, according to three sources briefed on the situation.  The project has a capex of EUR 232m (USD 235.47m), according to Abengoa’s 2015 annual report. The project was originally funded with a USD 120m bridge

DIF, Multiplex, Compass and Brookfield Financial have reached financial close on a long-running process to finance and build workers' accommodation for major oil and gas company Woodside at Karratha in Western Australia. The deal, which DIF announced closed yesterday, involves the design, build, finance, operations and maintenance of the 604-bed Bay

Australia's Victoria state is seeking feedback from the private sector for its Suburban Rail Loop project, Premier Daniel Andrews announced today. Potential bidders can now register their interest in the 90km mega project, Andrew said at the AFR National Infrastructure Summit in Melbourne. “We know that this is the first big engagement with the

Limited partners in Meridiam funds have completed a major sell down of their interests, while a complex sale of shares linked to a EUR 184.7m performance fee has also been approved, according to sources and documents. The sale of shares in Meridiam’s first two funds – which largely hold stakes in PPPs – was approved at a general meeting last month

Credit Agricole CIB infrastructure director Simone Aroni is due to leave the bank in the summer, sources said. Aroni, who joined Credit Agricole in 2009, is currently on gardening leave until the end of July. He is due to join in August the London office of an unnamed Asian bank, where he will focus on infrastructure and power transactions. Aroni

The Public Sector Pension Investment (PSP Investments) Board reported CAD 168bn (USD 126.6bn) of net assets under management for the fiscal year ended 31 March 2019, which is up 9.7% from the prior year, according to an 11 June press release. The portfolio’s one-year net returns recorded 7.1%, generating CAD 11.7bn in income. While fiscal year 2019

Lauren Jewell is to depart EY infra advisory after four years and is moving to Aurecon, it has emerged.  Jewell, whose most recent role was Director at EY’s infra advisory team, revealed on LinkedIn she will be joining Aurecon as Client Director for New South Wales Government, at the end of July.  She said she was “excited to be diving back

Three teams were shortlisted for the CAD 2.6bn Edmonton Valley Line West LRT expansion, according to a recent press release. Flatiron/AECON/Dragados Valley Line West Joint Venture ACS Infrastructure Canada AECON Concessions HOCHTIEF PPP Solutions North America Urban Mobility Partners Eurovia Infra Graham Capital Partners Parsons WestLink

Japan’s MUFG Bank is studying to set up a JPY 100bn (USD 924m) worth infrastructure debt fund, a MUFG spokesperson confirmed today (6 June). “We are considering launching a debt fund in a positive manner,” to provide institutional investors at home and overseas with opportunities to invest in infrastructure-related deals on a global basis, said

There are at least two recently formed teams making a bid for short line railroad holdco Genesee & Wyoming, said three sources familiar with the situation. The first consortium is comprised of Blackstone Infrastructure Partners and Stonepeak Infrastructure Partners, said the sources. Brookfield Infrastructure Partners, which was slated to reach a first

Swedish private equity firm EQT Infrastructure has withdrawn its AUD 3.3bn (USD 2.3bn) indicative proposal for Vocus Group following a brief period of non-exclusive due diligence, the target company said late yesterday. Vocus announced EQT's AUD 5.25 per share offer less than two weeks ago on 27 May. Vocus shares plummeted 17.7% to close at AUD 3.77

Kansai Airports, operated by Orix and Vinci Airports, reported Tuesday (4 June) that its revenues and profits for the fiscal year ended March 2019 rose across the board, successfully mitigating the debilitating impact of the post-typhoon falloff in passengers.   The company, which operates three airports in Western Japan's Kansai region - Kansai International

Evercore has launched a sale of London-based global solar developer Solarcentury, according to Inframation's sister publication SparkSpread. Earlier this month, the investment banking firm approached potential suitors to participate in the upcoming sale, code-named Project Cambridge.  Founded by entrepreneur Jeremy Leggett in 1998, Solarcentury is

ANI is in the final stage of the process to reactivate the 25-year, COP 3.5trn (USD 1bn) Ruta del Sol – Sector 3 project with Yuma, the original concessionaire, according to a 25 May press release. The SPV Yuma is comprised of five companies: Salini Impregilo (40%), Infracon (29%), Fondo de Capital Privado Ruta del Sol (17%), Impregilo International

Warburg Pincus is considering selling a stake in German fibre broadband provider Inexio, with infrastructure funds likely to be attracted to the business’ extensive expansion plans.  The New York-headquartered private equity firm, which owns a 59.45% stake, is planning to exit the business, said a source. But it has not yet launched a sale, and it

Spanish developer Sacyr is hoping to enter the North American concession sector, whilst continuing to focus on Europe and Latin America – partly through an infrastructure fund it launched last year and which recently reached first close. The Madrid-headquartered company said on Tuesday (4 June) during an investor day that it is planning to invest significantly

InfraRed Capital Partners today clinched the long-running tender for the first stage of the Greater Curtin University project, three years after it kicked off in April 2016, according to sources familiar with the matter. The AUD 200m-300m (USD 140m-210m) deal reached financial close and the contract was awarded on Tuesday (4 June), with backing from

Kansai Airports, operated by Orix and Vinci Airports, reported Tuesday (4 June) that its revenues and profits for the fiscal year ended March 2019 rose across the board, successfully mitigating the debilitating impact of the post-typhoon falloff in passengers.   The company, which operates three airports in Western Japan's Kansai region - Kansai International

London-based investment fund iCON Infrastructure Partners IV (iCON IV) has entered into an agreement to acquire regional telecom company TruVista, a 4 June press release states. The TruVista acquisition represents iCON Infrastructure’s first foray into the telecom sector. Up until now, iCON’s investments have mostly consisted of power and energy in

Warburg Pincus is considering selling a stake in German fibre broadband provider Inexio, with infrastructure funds likely to be attracted to the business’ extensive expansion plans.  The New York-headquartered private equity firm, which owns a 59.45% stake, is planning to exit the business, said a source. But it has not yet launched a sale, and it

Spanish developer Sacyr is hoping to enter the North American concession sector, whilst continuing to focus on Europe and Latin America – partly through an infrastructure fund it launched last year and which recently reached first close. The Madrid-headquartered company said on Tuesday (4 June) during an investor day that it is planning to invest significantly

An Engie-led joint venture signed an approximately USD 450m loan to finance construction of a renewable energy portfolio in Mexico, said three sources briefed on the situation. The credit facility, signed in the week of 27 May, carries a tenor that covers construction period plus 18 years. BBVA, Crédit Agricole and Natixis led the financing,

Spanish developer Sacyr was the only bidder of the USD 575m (UF 13.4m) G-66 Camino de la Fruta highway project, according a government press release. The economic bid of Sacyr will be opened on 26 June, and the award of the project is expected for 2H19, according to the press release. The project involves the improvement of 142km of roads from the

Five groups, including Zurich Airport, are interested in the Viracopos concession, a spokesperson for Aeroportos Brasil Viracopos (ABV) told Inframation. Brazil’s CCR and Spain’s Aena are among the groups interested in bidding, said two sources familiar with the situation. Aena won Brazil's northeastern airport lot with a bid of BRL 1.9 bn, representing

Two teams submitted proposals for the Hurontario LRT project ahead of the 23 May request for proposal (RFP) deadline, according to a press release issued from grantor Infrastructure Ontario. The teams are as follows: Mobilinx (Astaldi Group, John Laing, Transdev, Hitachi-Ansaldo, Amico Concessions) Trillium Transit Partners (Kiewit, Meridiam,

Victoria has tasked its advisory body Infrastructure Victoria with devising better ways to deal with the state's waste, including developing a Waste to Energy (WtE) plan. The independent agency said in a statement on Thursday (23 May) the government’s Special Minister of State, Gavin Jennings, had directed it to: - Develop Victoria’s re-processing

Australia's GEO Group has refinanced the remaining bank debt on Melbourne’s Ravenhall Correctional Centre PPP with an AUD 461.6m (USD 317.5m) US private placement issue, according to S&P. The senior secured, fixed rate bond was priced on 21 May and carries an A-minus credit rating, the agency said in a statement.  The amount raised is slightly

Mexican highway concessionaire Red de Carreteras de Occidente (RCO) has published the prospectus for a reopening of its MXN RCO 18U bond issuance, according to a public filing.  On 11 December 2018, RCO issued MXN 8.31bn (USD 409m) in the RCO 18U series, which had a cap of MXN 20bn. RCO used the issuance to buy back 15,946,799 RCO 12 bonds for MXN 1.59bn

Rubicon Capital Advisors today said it has set up a global investor-focused team and expanded its presence into Asia with an office in South Korea. The Investor Coverage Group will work to meet the needs and objectives of strategic, fund and institutional investors, the investment banking advisory firm said in a statement.  Christian Jung, who will

Rubicon Capital Advisors has formed an internal group to focus exclusively on strategic, fund and institutional investors, the firm announced in 21 May in a press release. The team, called the Investor Coverage Group, is led by Dublin-based managing director and partner Aeneas Griffin. The group will include managing directors Maria Kang in New York,

InfraVia Capital Partners has launched a sale of its majority stake in the Welsh data centre business Next Generation Data (NGD) as it seeks to tap into growing infrastructure fund interest in the sector since acquiring it three years ago. The French manager, which acquired a 60% stake in NGD in 2016 from shareholders including the business’s management,

A consortium including Ferrovial’s subsidiary Cintra and Macquarie Capital has been provisionally selected as preferred bidder for the Silvertown Tunnel, the UK’s largest PPP currently in procurement, sources said. The GBP 1bn project’s procuring authority, Transport for London (TfL), was expected to formally notify the PPP’s two bidders on Monday

A group of companies including Japanese trading house Sumitomo Corp. has started construction of the 1.8GW Hamriyah gas-fired combined cycle power plant in Sharjah after signing a project financing agreement. The consortium - which includes Sumitomo, Shikoku Electric Power, GE Energy Financial Services and Sharjah Asset Management - achieved financial

Trans-Tasman infrastructure fund Infratil is plotting a move into the European renewable energy market after its successful foray into the US via Longroad Energy.  The NZX and ASX-listed investor is in talks to appoint a team of investment managers and expects to launch the new business unit within 12 months, Chief Executive Marko Bogoievski told Inframation

InfraRed Capital Partners and Navigant, a Chicago-based consultancy, have launched a joint venture (JV) to leverage public-private partnerships (P3s) for developing distributed energy projects, the firms announced. The new company, Compass Energy Platform, will tap London-based InfraRed for capital to fund its future pipeline of projects while Navigant’s

The Canada Pension Plan Investment Board’s (CPPIB) infrastructure portfolio outperformed the total fund and almost all asset classes for the fiscal year ended 31 March 2019, as it continues to take on new investments, according to a 15 May press release. CPPIB reported a net annual return of 8.9% for the fiscal year, while infrastructure returned 14%.

IFM Investors has been considering raising a new global, core-plus infrastructure fund with a 10-year life that could be up to USD 2bn in size, sources say. The GP has been working on the fund for about two years but has had more detailed discussions with investors in the past couple of months, according to three sources familiar who had seen early

Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) has made its first investment in Chilean infrastructure by taking a 45% stake in a port terminal company.  CDPQ has invested in Dubai Ports World Chile (DP World Chile), which operates terminals in Puerto Central and Puerto Lirquén, located in San Antonio and Gran Concepción respectively.  In

Canadian developer Northland Power will seek project financing for its first Mexican power plant, the 130MW La Lucha solar project in Mexico, according to a recent press release.  Northland has reached a final investment decision on the plant in the State of Durango and states that, while it will fund the initial construction of the plant through a combination

Whitehelm has selected Aberdeen Standard Investments as the winner of its Oikos auction, sources said, in a highly competitive process that saw the buyer agree its second storage deal in as many months Aberdeen Standard signed a deal on 12 May to pay around GBP 140m including debt for Oikos, a company located on Canvey Island in Essex specialising in

Japan’s Mitsubishi UFJ Financial Group (MUFG) announced a focus on clean energy and infrastructure projects, saying it will stop giving loans to new coal-fired power generation projects from July 1. The company will also aim to provide JPY 20trn (USD 182bn) financing for renewable energy and other projects. Outstanding loans already provided

BlackRock Real Assets said in a statement today (14 May), a private fund that it manages has agreed to acquire the entire equity interest in a 115MW Taiwanese solar portfolio made up of 14 projects from two local developers. About 105MW — the majority being under construction or shovel-ready — will come from Taipei-based New Green Power (NGP),

China Development Bank (CDB) is in talks to provide a commitment to Equitix’s fifth fund, sources said, as mainland Chinese investors struggle to gain direct greenfield opportunities. CDB – one of three state-owned banks responsible for raising funds for large scale infrastructure projects – met with Equitix earlier this month to discuss potentially

Brookfield has called for expressions of interest for large parts of its Enwave subsidiary in Australia, including Tas Gas Networks and its District Energy businesses, sources said. Brookfield adviser Citi sent out a flyer with details of the sale to possible interested buyers this week, according to two sources familiar with the matter. EOIs are

Thomas Murray is expected to join I Squared Capital shortly to build-out a new credit platform, said sources close to the situation. The move will include the build-out of a team, to be based in I Squared’s new headquarters in Miami. In addition, there are rumors that it will also coincide with a capital raise. Murray formerly ran a debt platform

Goldman Sachs has hired Cedric Lucas, formerly of KKR, to join its West Street Infrastructure Partners fund as managing director, a spokesperson for the company confirmed. West Street Infrastructure Partners is a fund managed by Goldman Sachs’ merchant banking arm. Lucas was previously a managing director at KKR where he worked on the energy and

Prateek Maheshwari, a principal responsible for debt financings at Global Infrastructure Partners in London, has left the manager and has joined OMERS Infrastructure, sources told sister title SparkSpread. Maheshwari, who could not be reached for comment, spent 11 years at GIP, the world’s largest infrastructure fund manager with some $51 billion in

Palisade, HRL Morrison and China Three Gorges have all lodged indicative bids for Macarthur Wind Farm, according to sources. The sale of Malakoff’s 50% stake in Macarthur Wind Farm in Victoria has drawn interest from Australian infrastructure funds and China Three Gorges, the sources said. Financial adviser Rothschild received indicative bids from

US fund manager BlackRock is bidding for I Squared Capital's 1.4 GW power and water portfolio spread across China, South Korea, Taiwan and Vietnam, according to market sources. Indicative bids were filed on April 18, but bankers are yet to see a shortlist, according to SparkSpread, a sister publication to Inframation. Credit Suisse is I Squared's financial