By Nick Flitterman
US Ex-Im Bank has announced that its Board of Directors has approved an export finance guarantee of US$ 917 million as part of the debt financing for the $4.6 billion Sasan Ultra Mega Power Project in India. Portland Advisers is acting as financial adviser to US Ex-Im Bank.
Click here for the official press release from US Ex-Im Bank.
For further information contact geoff.knox@portlandadvisers.com
By Nick Flitterman
On 16th September 2010 a consortium led by GDF Suez SA and advised by Portland Advisers completed a $1.3bn long term debt financing for two independent power projects in Oman.
The projects are greenfield natural gas-fired power plants with capacity of 744 MW each. . Total investment cost will be around $1.7bn for both projects. Their power output will be sold under two separate 15-year power purchase contracts to the Oman Power and Water Procurement Company (OPWP), who will be the single off-taker. Siemens AG and GS Engineering of South Korea are the EPC contractors.
The project is financed through a blend of equity, early generation revenues and a senior debt facility involving export credit agencies Euler-Hermes and Korea Eximbank, and a club of eight international banks : Natixis, KfW-IPEX, Credit Agricole, HSBC, Bayerische Landesbank, Europe Arab Bank, CIC, and Standard Chartered Bank.
Geoff Knox, Portland’s Head of Energy, said: “Portland Advisers were delighted to have the opportunity to advise GDF Suez on this major financing. The deal was structured and negotiated at the bid submission stage last year when financial markets were still recovering from the financial crisis. The competitive financing submitted with the bids were important elements to the consortium being awarded both projects.”
GDF Suez holds a 46% interest in the consortium, the rest being held by Shikoku Electric Power Company (Yonden) (11%), Sojitz Corporation (11%), both from Japan, and Bahwan Engineering Group (22%) and the Public Authority for Social Insurance (PASI) (10%) of Oman.
For more information on this transaction, or on related topics, please contact Geoff directly on geoff.knox@portlandadvisers.com or +44 20 71 83 83 87.
By Nick Flitterman
Portland Advisers has been appointed as financial adviser to the US Export-Import Bank in connection with its support for the financing of the 4,000 MW US$ 4.7bn Sasan Ultra Mega Power Project in Madhya Pradesh, India being sponsored by Reliance Power Limited.
Sasan UMPP is an integrated power and coal-mining project covering the open-cast mining of coal from a dedicated coal block using mining equipment from Bucyrus, Inc of Winsconsin, USA and power generation in 6 x 660 MW super-critical units supplied by Shanghei Electric Corporation of China.
US Ex-Im Bank is the official export credit agency of the United States of America. Reliance Power is a major developer, owner and operator of private power projects in India. It is part of the ADA Reliance Group, one of India’s largest business groups.
For further information, contact Portland’s Head of Energy at geoff.knox@portlandadvisers.com
By Nick Flitterman
Continuing to demonstrate that Portland Advisers is at the forefront of financing innovation, even in these difficult economic times, Jacek Krauze, from our Telecoms team, recently had his article on Broadband Intervention published in the leading telecom sector journal, “Telecom Finance”. It can be found in the printed edition of the January 2010 issue, however we are pleased to provide it through the link below.
“Broadband Intervention: Just putting money into holes in the ground?”
(Telecom Finance, January 2010)
For further information on the article or its content, or for enquiries relating to Telecom sector projects, please contact Jacek directly at jacek.krauze@portlandadvisers.com
By Nick Flitterman
Portland Advisers has been mandated by Kuwati investment company, Dar Al Dhabi Real Estate Co. KSCC, to undertake the financial modelling for the financing of the Dar Al-Dhabi Project including the iconic landmark development, ‘The Wings’, on Al Reem Island, Abu Dhabi. The Wings, a mixed use real estate project, was recently awarded at the prestigious CNBC Arabian Property Awards 2009. Further information on the project can be found by clicking here.
By Nick Flitterman
On 26th and 27th October 2009 in Berlin, the European Academy for Taxes, Economics & Law sponsored a prestigious event on “How to Finance Broadband Infrastructure”, with Portland’s Head of Telecoms, Nick Flitterman, chairing the first day of proceedings.
Participants included the great and the good from three EC Directorates, from national and regional communications ministries and agencies, and from major private sector telecom operators and suppliers. The event programme and speaker profiles can be seen by clicking on this link.
Nick’s own presentation on “Models & Solutions for Financing Broadband in the Public & Private Sectors” can be viewed by clicking here.
Please contact Nick directly at nick.flitterman@portlandadvisers.com for access to the information presented by the other conference speakers or to discuss the detail of his presentation.
By Nick Flitterman
Demonstrating the continued thought leadership of Portland Advisers, Geoff Knox, our Head of Energy, recently had his article on Hydro Power published in the leading Project Finance journal, “Project Finance International”. It can be found in the printed edition of the August 2009 issue, however we are pleased to provide it through the link below.
Geoff Knox on HydroPower Article (PFI Aug ‘09)
For further information on the article or its content, or for enquiries relating to Energy sector projects, please contact Geoff directly at geoff.knox@portlandadvisers.com
By Nick Flitterman
Following its sale in 2008 to L Capital 2 FCPR (an investment group sponsored by LVMH – Moët Hennessy Louis Vuitton and Groupe Arnault), Princess Yachts International plc engaged Portland Advisers to build a full financial and operational model. Integrated with the Management’s information systems, the model provides automated up-to-date sales, costing and financial information.
Princess Yachts International plc is the UK’s largest producer of luxury performance motor yachts from 42 feet to 130 feet. For further information on Princess Yachts International, click here.
For further infomation, contact nick.flitterman@portlandadvisers.com or james.benbow@portlandadvisers.com
By Nick Flitterman
The world-renowned Pagnanelli space insurance conference was held this year on the Lido in Venice on 2nd and 3rd April 2009. Attended by the great and the good of the satellite industry, from operators to suppliers, insurers to governments, the participants took the opportunity to share experiences and expertise during this the 30th anniversaryal of the event.
Nick Flitterman presenting on project finance insurance issues
Nick Flitterman from Portland Advisers was notable for being the only represenative of the finance community at the event, and his positive presentation on insurance issues in Project Finance was well received attracting plenty of interest and questions as the industry continues to ride the difficult financial climate with success after success.
Click here for further details on this years conference, use the link below to view a copy of Nick’s presentation on “Insurance in Project Finance”or contact Nick directly at nick.flitterman@portlandadvisers.com for further information.
By Nick Flitterman
On 31st March 2009, the Head of Telecoms at Portland Advisers, Nick Flitterman, joined an audience of senior dignatories from the public and private sectors at a conference discussing the future of satellite PPP’s, sponsored by the European Space Policy Institute (”ESPI”) in Vienna.
Following a presentation of their study made by the highly respected Milbank space and project finance team, Nick chaired a lively discussion amongst a panel of senior satellite sector executives, including Romain Bausch, CEO of SES, and Giuseppe Viriglio, Chairman of Telespazio, with debate held on some of the key issues facing the sector today and in the future.
For full details of the conference and further information on ESPI, click here, or contact Nick directly at nick.flitterman@portlandadvisers.com.
