The UK core infrastructure developer and investor has raised over £100m for its second fund, boosted by three new capital commitments. The fund, which posted a first closing on £70m in January this year, has a final target of £150m.
Areva Solar and Wind Prospect are the preferred bidders to develop a 250-megawatt solar thermal gas hybrid power plant. The developers are in talks with equity investors and European and Asian banks to raise A$675m to close the project later this year.
The Spanish construction firm has completed its aim to achieve majority control of Germany’s Hochtief. At the end of last week, ACS was able to lay claim to 50.16% of Hochtief’s voting shares.
Sierra Leone is forecast to become a “renewable energy hub” in Africa as seven organisations sign up to €133m of debt financing for an integrated renewable energy and agriculture project.
The fund has completed the refinancing of its corporate credit facility through an agreement with existing lenders which lengthens the facility and reduces it in size.
A consortium led by Vinci has raised €3.8 billion in debt and equity from ten banks to reach financial close for the €7.8 billion Tours-Bordeaux high-speed rail line, in France.
If infrastructure fund managers wish to have a defence against being described thus, they should act on past discussions about creating a representative association
The Hungarian government is exercising a put option to sell its 25% stake in Budapest Airport to existing shareholders for €136m. Hochtief will benefit the most, acquiring an extra 12% in the airport and increasing its total shareholding to 49.66%.
The UK engineering and development consultancy has been appointed technical adviser to the Neva water project, the first water supply public-private partnership in Russia. The project is expected to reach financial close in the fourth quarter of 2012.
The Macquarie Renaissance Infrastructure Fund, Russia’s first ever infrastructure fund, has closed with $630m of commitments after three years on the fundraising trail. The fund has only done one deal, acquiring a 16 percent stake in Russia’s largest privately owned rolling stock company.
If infrastructure fund managers wish to have a defence against being described thus, they should act on past discussions about creating a representative association.
The London-listed infrastructure investor has acquired an interest in the South Ayrshire Schools PPP for £15.75m. The schools included in the finance, design and construction project are all now operational.
The government has said it intends to award Madrid and Barcelona’s airports by the end of this year. It has also created a holding company that will allow it to sell a 49% stake in its airports operator, which it describes as ‘the world’s largest airport operator’, with 47 airports under management.
A new survey on the transport sector from consultants EC Harris shows that, of 17 nations around the world, the US and China have the best match between the attractiveness of the investment opportunity and its size.
The fund has reached a first close with $479m in commitments from institutional investors from Europe, North America and Asia, including PGGM and the Korean Teacher’s Credit Union. It will also have access to an extra $250m for co-investments. Final close is scheduled for 2012.