The UK-based infrastructure fund manager has reached a first close of £70m on its second infrastructure fund, targeting PPPs backed by government revenues. Local pension funds played a crucial role in helping Equitix approach half of its £150m target after three months of fundraising.
Photovoltaic industry bodies in Spain have started filing appeals against two recent laws amending the amount of feed-in tariffs they receive. The latest law will retroactively limit tariffs received by PV plants by 30% if approved by Parliament, as expected, on Wednesday.
2008 was the peak year for the European Investment Bank, when it contributed €3.9bn to help fund European public-private partnerships. Its second-most active year was 2010, with €3.4bn lent to projects across the continent.
The Australian fund manager’s Asian Giants Infrastructure Fund has acquired its first asset in China through the purchase of a stake of just over 19% in Qujing Gas. The fund has also attracted $66m of new commitments and is targeting a final close in Q1 2011.
Following completion of its takeover offer on January 18, the Spanish group has increased its stake in Hochtief to 31.6%, further crossing the 30% threshold that will allow it to acquire control of the German firm on the open market.
CIC is to open an office in Toronto according to a report by CNBC. The office is only the second to be opened by the $300 billion sovereign wealth fund outside of Greater China since its inception in 2007.
The government is gearing up to launch a vehicle that will allow the capital markets to refinance PPP debt post-construction without exposing them to project risk. The bonds issued will have the same rating as the French state (AAA) in projects where it is the procuring authority.
In the UK, confusion over the lifecycle costs of public-private partnerships is tainting their image. Over the other side of the Channel, a very different view exists
In the UK, confusion over the lifecycle costs of public-private partnerships is tainting their image. Over the other side of the Channel, a very different view exists.
Kamal Nath, named Infrastructure Investor’s global Minister of the Year in 2009 for his ambitious road-building programme, has been switched to the urban development ministry in an Indian government reshuffle. CP Joshi takes over from Nath as roads minister.
The Italian toll road operator has earned the distinction of becoming one of the few foreign companies to win a PPP contract in France. Atlantia will install a satellite-based toll system for heavy vehicles across 15,000km of road, worth over €2bn.
The French developer has beaten competition from counterparts Bouygues and VINCI to become the preferred bidder for the €3.4bn Bretagne Pays de la Loire railway line.
The emerging markets private equity and infrastructure investor has appointed fundraising veteran Marc Nahum as a distribution director for Europe and the Middle East within its investor development group.
A UK parliamentary committee is urging procuring authorities “to negotiate with major PFI contractors to secure a share of efficiency gains for the taxpayer”.
Balfour Beatty has reached financial close on the £80m Hertfordshire Schools public-private partnership. The project involves three schools, with the UK developer investing £4.5m of equity into two of them.