CONTENTS
vii
- Introduction Foreword xi
- The nature of project finance
- Trends in project finance
- Effect of Enron
- Caution among lenders and investors
- Common themes
- Reasons for financial difficulty
- Lessons learned
- 1 Laibin B– Coal fired power plant Power plants
- Introduction
- Project summary
- Background
- How the financing was arranged
- Government approvals and support
- Risk analysis
- Principal contracts
- Lessons learned
- 2 Meizhou Wan – Pulverised-coal-fired power plant
- Introduction
- Project summary
- Background
- Principal contracts
- How the financing was arranged
- Lessons learned
- 3TermoEmcali– Gas-fired power plant
- Project summary
- Project economics
- Ownership and contractual relationships
- Financing structure
- Risk analysis
- Structure of financing
- Lessons learned vi
- 4 Azito – 288 MW power plant and 225 kV transmission system
- Project summary
- The power sector in Côte d’Ivoire
- Project description
- Project risk factors
- Critical success factors and lessons learned
- 5 Dabhol Power Company – Power station and port facilities
- Project summary
- Background
- Lessons learned
- 6 PT Paiton Energy (Paiton I) – Coal-fired power plant
- Project summary
- Background
- Lessons learned as of
- Developments since
- Lessons learned as of
- 7 Samalayuca II– Power plant
- Introduction
- Project summary
- Background
- Lessons learned
- 8 Merida III – Power plant
- Introduction
- Project summary
- Background
- Lessons learned
- 9 Bajio, La Rosita and TEG – Natural-gas-fired power plants
- Introduction
- Mexican power projects following Samalayuca II and Merida III
- Bajio
- La Rosita I and II
- TEG I
- TEG II
- Fuel supply issues
- Future structure of the Mexican power industry
- Lessons learned
- 10 CBK– Hydroelectric power plant and pumped storage facility
- Project summary
- Background
- Arrangement of finance
- Project debt service coverage ratios
- Political risk insurance
- Lessons learned
- 11 Quezon Power – Pulverised-coal-fired power plant
- Project summary
- Background
- How the financing was arranged
- Principal project contracts
- Description of additional agreements
- Other project documentation
- Risk factors
- Lessons learned
- 12 Drax – Coal-fired power plant
- Project summary
- Power plant description
- Background
- How the financing was arranged
- Sources and uses of funds
- Independent consultants’ reports
- Initial credit ratings
- Subsequent developments
- Lessons learned
- 13 Panda Energy–TECO Power joint venture – Two natural-gas-fired power plants
- Project summary
- Background
- Credit and risk management
- Contracts
- How the financing was arranged
- Environmental permits
- Risk summary
- Financial projections
- Subsequent developments
- Lessons learned
- 14 Calpine – Power plant portfolio Power project portfolio
- Summary of approach to projects
- Background