emerging

IIICorp Opportunity of the Week: Sonnedix gets loan approval from Green Climate Fund for 143MW solar project in Chile worth USD 265m

The South Korea-based Green Climate Fund recently approved a loan worth USD 49m to a large-scale solar PV project coming up in the Atacama desert in northern Chile implemented by US-based independent power producer (IPP) Sonnedix. Sonnedix, founded in 2010, has raised over USD 554m in equity to date from founders, management, private, and institutional investors. Sonnedix is a JV owned and controlled by Sonnedix Global Holdings Ltd and IIF Solar Investment Ltd (JPM IIF), an entity controlled by the Infrastructure Investment Fund.

The project will have an installed capacity of 143MW (likely AC-rated, while DC-rated capacity will be around 170MW). The project will have the capacity for expansion up to 250MW. The project is expected to require a total investment of USD 265m, with the USD 49m loan being disbursed through the Development Bank of Latin America (CAF). The project will start selling electricity at USD 4.4 per kWh from 2017 onward. This tariff is however expected to increase gradually to reach USD 8 per kWh by 2035.

The EPC and operation and maintenance (O&M) for the project is by Biosar Energy SA, which was acquired in 2012 by the Greece-based AKTOR S.A.

To connect the Atacama solar PV plant power substation, 45.5km of transmission lines and grid connection equipment at the Lagunas substation will be developed by Transelec SA under a build-own-operate-transfer (BOOT) contract and repaid under a 25-year lease with fixed payments and repurchase option of USD 1.

Recently, the Chile government approved legislation that will create a new interconnected transmission network to be established alongside a new independent operator. This will ensure that power generated from renewable energy projects located in remote regions of the country is supplied to population centers.

 

Deal origination, competitive intelligence, industry insight— With over two decades of expertise and innovcation in the global M&A, capital markets, and business news and intelligence fields, IIICorp provides unparalleled insight on opportunities in the world’s fastest-growing markets.  Visit our website for more information and access to a selection of industry reports and analytics. For subscription inquiries, please contact us here.

 

 

Advertisements

IIICorp Opportunity of the Week: Andhra Pradesh in talks with Chinese firms for partnership in its proposed USD 16bn hydrocarbon complex

The State Government of Andhra Pradesh(AP) is in talks with Chinese partners for a potential partnership to develop its proposed USD 16bn cracker complex in the port town of Machilipatnam.

“We had a Chinese delegation representing a potential consortium partner inspecting the land proposed for the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR),” said CHSS Prasad, Chief General Manager (Projects), Andhra Pradesh Industrial Infrastructure Corporation (APIIC). APIIC is the nodal agency implementing the project along with Vishakhaptnam Development Authority and the industries department of the AP state government. He however declined to share further details of the potential partner, citing confidentiality.

The plan is to put together a consortium of state-owned oil companies, exploration firm Oil and Natural Gas Corporation Limited (ONGC) along with private global players who have expertise in developing a facility of this magnitude. This news service had earlier reported that Dubai-based Al Kharash Contracting Co was one of those global players that had showed initial interest.

In a cracker complex of this scale, the refinery, or the mother cracker, creates raw material or feedstock for several chemical-making units, where the end-user industries involve polymers and pharmaceuticals, among others. Once completed, this will be India’s largest cracker unit with a capacity of 10 million metric tons per annum (MMTPA).

An industry source said a mother cracker complex of this size will open up opportunities to equipment suppliers from developed markets in the US and Europe. According to a previous working paper published by the Indian Council for Research on International Economic Relations (ICRIER), India currently has three naphtha-based, three gas-based, and one mixed-feed cracker units with a combined ethylene capacity of 3.3MMTPA.

The major feedstock used in petrochemical units is naphtha and natural gas (propane and butane), while the major intermediate products produced in the country are ethylene, propylene, butadiene, benzene, toluene and xylene, which are used in a variety of industries.

 

Each week, we share one of the thousands of opportunities, deals, and projects in our database. Our global team of journalists, engineers, analysts and researchers constantly publish new stories using innovative model of actionable intelligence, presented in a comprehensive database of past and upcoming projects, tenders, partnerships, trade finance and M&A opportunities. Subscribers gain access to a proprietary data set containing the terms, values, and contacts on deals updated in real time. 

Visit our website to find out how IIICorp can help your company succeed in the world’s fastest-growing markets. 

IIICorp Featured Opportunity of the Week – China Three Gorges, SGCC in the frame to buy stakes in Brazil’s Santo Antônio do Jari hydropower project

Odebrecht Energia, a unit of Brazilian construction major Odebrecht SAGrupo Cemig, and Construtora Andrade Gutierrez could be negotiating the sale of their respective stakes [totaling 51% at about USD 2.6bn (CNY 17bn)], in the Santo Antônio do Jari hydropower project.China Three Gorges Corporation (CTG) and State Grid Corporation of China (SGCC) are two of the candidates to pick up the stakes.

The Santo Antônio do Jari project is built on the Madeira River in Rondônia. It has an installed capacity of 3568MW, when all the turbines will be installed, which is estimated to be around November 2016.

“The Brazilian entities reach out to CTG and SGCC, and expect to sell the stakes to Chinese corporations. They are also in talks with the companies from other countries,” said Li Chang, a source from China’s Economic and Commercial Counsellor in Brazil, a part of the People’s Republic’s Ministry of Commerce.

“This deal is in process. But they decline to share more information with us,” Li added.

 

IIICorp subscribers have access to nearly 20,000 opportunities, deals and projects like the one above. Our network gives us access to the project managers, design firms and advisors who provide the proprietary information that sets us apart– enabling our subscribers to access upcoming projects, deals, opportunities and regulatory changes that ICorp reports on before any other source. For more information on IIICorp, contact us here.