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The two investors are sharing the equity on a 60-40 split for the 36MW facility south of Perth.
The new fund has a target IRR of 5% and already owns a portfolio of 12 assets purchased from a previously liquidated SPARX fund.
The group targets earlier-stage projects after selling Europe’s largest onshore wind farm and ploughing €270 million into a new 235MW site in the same country.
The vehicle, which will be managed by Germany’s DWS Group, will help the US tech giant reach its goals of increased clean energy use within its supply chain and developing 2GW of renewables in China.
India’s GVK moves the $2.3bn greenfield development, initially approved in 2007, to the construction phase.
Chinese investments could help fund Africa’s much needed infrastructure, but high leverage will make African projects more exposed to any political risks from the country, Moody’s says.
The bank has created a financing facility, on a pilot five-year basis, that will help private concessionaries secure timely payments from the government.
The average bid prices for the projects to be built by 2025 are less than half this year’s feed-in tariff for offshore wind projects.
With the possibility of denuclearisation and the lifting of sanctions on the Korean peninsula, could the world’s most isolated country become the next emerging market for infrastructure?
Hajir Naghdy, chairman of Macquarie Capital Asia, tells Infrastructure Investor how his firm is tapping into the region’s renewables space, especially the offshore wind sector in North Asia.
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