energy

Highly leveraged midstream companies are likely to default on loans, but natural gas, which has not seen commodity price volatility like oil has, is one bright spot.

Commitments for co-investments and SMAs outpaced capital raised for ECP IV due to the large cheque sizes Asian and Middle Eastern LPs contributed to the fund.

Infrastructure Australia has put an emphasis on resilience in its 2020 Priority List, but investors note that there are high levels of competition for a limited number of assets.

The Australian Energy Market Commission rejected calls from investors to move to average loss factors in a ruling that 'undermines the energy transition underway'.

The Energy Security Board cautioned that the ability of investors to efficiently manage risk to support investment decisions was at a ‘critical’ level, its highest rating of concern.

The debate over marginal loss factors may see some short-term resolution next week – but the wider conversation about reform to Australia’s National Electricity Market still has some way to run.

Survey results show that marginal loss factor volatility is increasing the cost of capital, says one investor, who also criticised the Australian regulator for being 'more interested in preserving the past'.

The investors participated in a $1bn-plus fundraising round alongside the UK Railway Pension Scheme and AP2, with QIC’s investment bringing its Global Infrastructure Fund close to full deployment.

The two firms have launched the search through their Australian JV, International Power (Australia) Holdings, and will seed the platform with the newly-operational 119MW Willogoleche Wind Farm.