News

August 2018   SOCAR Turkey Aegean Refinery (STAR) has received its first cargo of crude oil for processing. The 10 million metric ton per year refinery is to begin full operations in the fourth quarter of 2018. Greengate advised a group of eight export credit agencies on financing this $6.3 billion project.

March 2018   Construction of the first unit of the Barakah nuclear power plant in the United Arab Emirates has completed. Operation is expected to begin in 2019. Greengate served as financial advisor to the export credit agencies for this transaction.

November 2017   Greengate is serving as financial advisor to the U.S. Environmental Protection Agency WIFIA Program Office in connection with a loan request from the Indiana Finance Authority to support funding of its Drinking Water and Wastewater State Revolving Funds.

June 2017   Greengate has been selected by the US EPA Water Infrastructure Finance and Innovation Act (WIFIA) office to serve as financial advisor. The WIFIA program provides development and implementation funding for clean water, wastewater, desalination, drought mitigation and other eligible projects.

February 2017   Greengate has been appointed ECA Coordinator on the financing for the Duqm refinery project in Oman.

January 2017   Greengate has been appointed financial advisor by the Build America Bureau to provide support in the evaluation and negotiation of a TIFIA loan commitment in respect of the I-395 Express Lane (tolled) managed lane project, sponsored by the Virginia Department of Transportation and to be implemented under a public private partnership by the selected concessionaire.

December 2016   Greengate has been appointed to advise the full lender group to OneWeb, which is planning to launch a constellation of satellites to provide global, low-latency, broadband internet connectivity.

November 2016   The U.S. Department of Transportation, acting through the Build America Bureau, has provided a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan commitment of $338.5 million to finance the construction of a new tunnel at Thimble Shoal Channel on Virginia's Chesapeake Bay Bridge-Tunnel. Greengate served as financial advisor to the Build America Bureau on this project.

June 2016   The U.S. Department of Transportation acting through the Federal Highway Administration Infrastructure Finance and Innovation Act (TIFIA) Office has provided a loan commitment of $874.6 million to Purple Line Transit Partners, owned by Meridiam, Star America and Fluor Enterprises, to support funding of the $2+ billion Purple Line light rail project to be constructed in Maryland near Washington, DC. Greengate served as financial advisors to the TIFIA Office on this project.

April 2016   The Etileno XXI polyethylene plant in Mexico started production. Greengate advised the lender group to this project, the first new steam cracker to be built in North America in more than a decade.

March 2016   The U.S. Department of Energy announced its participation in the Plains and Eastern Clean Line project, a 705-mile direct current transmission line that will carry up to 4,000 megawatts of wind-generated power from Oklahoma and Texas to the southeastern United States. Greengate performed a financial and commercial evaluation for the DOE to assess the viability of the project.

March 2016   Greengate has been retained to advise on the financing of a 50 MW photovoltaic project in northwestern Ghana. The project, sponsored by Episolar, will sell its output to the Electricity Company of Ghana under a long term power purchase agreement.

March 2016   Maryland's state government has approved a contract with Purple Line Transit Partners for design, construction, operation and maintenance of the Purple Line light rail. Financial close and full notice to proceed are targeted for June 2016. Greengate is serving as financial advisor to the Department of Transportation’s Transportation Infrastructure Finance and Innovation Act (TIFIA) Office on this project.

January 2016   Australia Pacific LNG has shipped its first LNG cargo. Greengate advised export credit agencies on the initial financing of this $8.5 billion project.

September 2015   First nuclear concrete has been poured for the fourth reactor at the Barakah nuclear power plant in the United Arab Emirates. The four units at the plant are scheduled to come online in 2017 through 2020. Greengate served as financial advisor to the export credit agencies for this transaction.

August 2015   Greengate is collaborating with Stanford University on a research project, Value for Funding, that seeks to improve infrastructure P3 evaluation. The first two papers in a series of five on the project are now online at Journal of Structured Finance.

May 2015   Greengate has been awarded a financial advisory assignment with the Overseas Private Investment Corporation (OPIC) to provide transaction support services in its evaluation of a request to provide its Non-Honoring Sovereign Guarantee insurance product in connection with a potential debt financing for the benefit of an African utility.

May 2015   Greengate was appointed to provide financial advisory services to several export credit agencies with respect to the Mozambique LNG project in which Anadarko is serving as operator.

March 2015   IJGlobal honored the Saudi Aramco cogeneration plants project for excellence, achievement and innovation in energy and infrastructure finance in the Middle East.

December 2014   STAR Refinery in Turkey was named a 2014 Deal of the Year by PFI. Greengate advised a group of eight export credit agencies on this transaction.

December 2014   Cenpower IPP achieved financial close and was named a 2014 Deal of the Year by PFI. Greengate advised the Cenpower sponsors from the earliest stages of project development.

September 2014   Greengate has been appointed to advise lenders to the Tasiast gold mine expansion project.

May 2014   SOCAR signs $3.29 billion financing arrangements for construction of the STAR refinery in Turkey. Greengate advised a group of eight export credit agencies on this transaction.

May 2014   PNG LNG loads first cargo ahead of schedule. Greengate advised a group of six export credit agencies on the initial financing of this $19 billion project.

February 2014   Georgia Power Company and Oglethorpe Power Corporation close on U.S. Department of Energy loan guarantees totaling $6.5 billion for their shares of Vogtle Electric Generating Plant Units 3 and 4. Greengate served as financial advisor for these two separate but related financings.

February 2014   Ivanpah Solar Electric Generating System, the largest solar thermal plant in the world, achieves commercial operation. Greengate advised on the U.S. Department of Energy loan guarantee for this project.

February 2014   ABS-2 satellite successfully launched, the first of Asia Broadcast Satellite’s three new satellites financed by US Ex-Im Bank. In separate news, this financing was recognized as Trade Finance 2013 Deal of the Year. Greengate advised on this transaction.

February 2014   Greengate was recently selected by the US DOT Transportation Infrastructure Finance and Innovation Act (TIFIA) Office to serve as financial advisor on the Maryland National Capital Purple Line project, providing light rail transit from Bethesda in Montgomery County to New Carrollton in Prince Georges County. The Maryland Transit Authority is structuring the project as a public-private partnership under which the selected developer will be responsible for the implementation of the project on a Design-Build-Finance-Operate-Maintain (DBFOM) basis.

January 2014   Greengate LLC listed 3rd on the PFI global league tables for advisory mandates closed in 2013 (on dollar volume basis).

January 2014   Sadara petrochemical complex and EMAL aluminum smelter recognized as a PFI 2013 Deals of the Year. Greengate advised on these transactions.

September 2013   Ivanpah Solar Electric Generating System reaches 'first sync' milestone. Upon completion, Ivanpah will be the largest solar thermal plant in the world. Greengate advised on the U.S. Department of Energy loan guarantee for this project.

June 2013   Sadara Chemical Company has announced financial close for the funding of approximately $10.5bn, marking the completion of project financing for Sadara, a joint venture developed by the Saudi Arabian Oil Company and The Dow Chemical Company. Greengate advised eight financial institutions on this transaction.

June 2013   Module installation at 250MW California Valley Solar Ranch PV plant complete. Greengate advised on the U.S. Department of Energy loan guarantee for this project.

April 2013   Riyadh PP11 IPP, a $2.1 billion, 1,729 MW gas fired facility, has reached full commercial operation. Greengate advised on the project financing of this plant.

December 2012   Etileno XXI polyethylene project signs $3.2 billion financing, the largest in the history of the petrochemical industry in the Americas and a PFI Deal of the Year. Greengate advised the entire lender group on this transaction.

December 2012   PFI names the $8.5 billion project financing of Australia Pacific LNG its 2012 Asia-Pacific Oil & Gas Deal of the Year. Greengate advised the export credit agencies on this transaction.

November 2012   US Ex-Im Bank approves $461 million loan for Asia Broadcast Satellite’s purchase of satellite and launch services for three new satellites. Greengate advised on this transaction.

September 2012   US Ex-Im Bank approves $4.975 billion loan for Sadara in Saudi Arabia, expected to be the world's largest petrochemical complex at completion in 2016. Greengate is advising eight financial institutions on this transaction.

September 2012   US Ex-Im Bank approves $2 billion loan for Barakah nuclear power plant in UAE. Greengate is serving as export credit agency financial advisor on this transaction.

July 2012   PNG LNG completes offshore pipeline. Greengate advised a group of six export credit agencies on the financing of this $16 billion project.

May 2012   Australia Pacific LNG secures $8.5 billion project financing. Greengate advised two export credit agencies on the transaction.

May 2012   Greengate has been retained to provide advisory services to three export credit agencies for the Tahrir Project.

May 2012   Greengate has been retained to provide advisory services to eight export credit agencies for the STAR Refinery in Turkey.

April 2012   First Solar, Inc. announced that the Antelope Valley Solar Ranch One project received the first advance of a loan guaranteed by the U.S. Department of Energy Loan Programs Office. Greengate advised on this $646 million loan guarantee.

February 2012   Al Dur Power & Water Company in Bahrain achieves full commercial operation. Greengate advised an export credit agency on this transaction.

February 2012   Project Amp distributed solar generation received the Renewable Energy World 2011 Finance Innovation of the Year award. Greengate advised on the U.S. Department of Energy's loan guarantee to this project.

February 2012   Brookfield Renewable Energy Partners announced the successful commissioning of the 99MW Granite Reliable Wind project. Greengate advised on a $169 million U.S. Department of Energy loan guarantee for this project.

February 2012   NRC approves combined construction-operation license for Plant Vogtle Units 3&4.

November 2011   Greengate has been appointed to advise two export credit agencies on financing of the 5,400 MW Barakah nuclear generation project in Abu Dhabi.

October 2011   Greengate has been retained to provide lender advisory services for the Star Power Project.

September 2011   Greengate has recently been appointed as advisor on petrochemical financings in the Middle East and Americas totaling more than $20 billion.

August 2011   NRC issues positive Final Safety Evaluation Report for Westinghouse AP1000 reactor design, to be used at Plant Vogtle.

June 2011   The U.S. Department of Energy offered a conditional commitment for a loan guarantee to Project Amp, which is to install approximately 733 MW of photovoltaic generation on rooftops across the United States. Greengate advised on this $1.4 billion loan guarantee.

June 2011   The U.S. Department of Energy offered a conditional commitment for a loan guarantee to the Genesis Solar 250MW concentrating solar power project. Greengate advised on this $682 million loan guarantee.

June 2011   The U.S. Department of Energy offered a conditional commitment for a loan guarantee to a 121MW geothermal power generation project sponsored by Ormat Nevada, Inc., a subsidiary of Ormat Technology, Inc. Greengate advised on this $350 million loan guarantee.

April 2011   Google has announced investments of $168 million into the Ivanpah Solar Electric Generating System and $100 million into the Shepherds Flat wind farm. These transactions are Google's largest investments to date in the renewable energy sector. Greengate advised on U.S. DOE loan guarantees for both Ivanpah and Shepherds Flat.

April 2011   The U.S. Department of Energy offered a conditional commitment for a loan guarantee to the California Valley Solar Ranch 250MW photovoltaic generation project. Greengate advised on this $1.187 billion loan guarantee.

April 2011   The U.S. Department of Energy finalized $1.6 billion of loan guarantees for the Ivanpah Solar Energy Generating System. Located in southeastern California, the three utility-scale plants will provide 370MW of net generation. Greengate advised on this loan guarantee.

February 2011   Greengate has been retained to provide advisory services to an export credit agency for the Nevis Geothermal Project.

February 2011   Greengate writes in The Journal of Structured Finance on the impact of partial government guarantees of project finance loans.

February 2011   Bloomberg New Energy Finance reports that the cost of wind turbines is at its lowest level since 2005. Pricing is most aggressive in the U.S. market, with onshore turbine costs averaging $1.27 million per MW.

January 2011   Cheniere signs MOU with Sumitomo for Sabine Pass LNG export capacity. Parties have reserved capacity for up to 7.7 million tons per year at Sabine Pass, which would be the first LNG export facility in the lower 48 states.

January 2011   Shepherds Flat nominated by Infrastructure Journal for Deal of the Decade. Greengate advised on the U.S. Department of Energy's $1.3 billion loan guarantee for this project.

January 2011   EU and Azerbaijan sign Southern Gas Corridor agreement.

January 2011   President of Turkmenistan supports gas sales to Europe and pipeline across the Caspian Sea.

November 2010   PNG LNG opens construction training center. Greengate advised a group of six export credit agencies on the financing of this $16 billion project.

December 2010   U.S. Department of Energy closes loan guarantee for Shepherds Flat wind project. Greengate advised on this $1.3 billion guarantee.

November 2010   PNG LNG opens construction training center. Greengate advised a group of six export credit agencies on the financing of this $16 billion project.

October 2010   U.S. Department of Energy offers conditional commitment for a loan guarantee to Shepherds Flat wind project. Greengate advised on this $1.3 billion guarantee.

September 2010   U.S. Department of Energy closed on a $78.8 million loan guarantee in support of the Blue Mountain geothermal project in Nevada. Greengate advised on this loan guarantee.

June 2010   Mississippi Public Service Commission approves Kemper IGCC.

June 2010   Peru LNG officially inaugurated. Greengate advised an export credit agency on the financing of this $3.8 billion project, the first natural gas liquefaction plant in South America.

December 2009   The Export-Import Bank of the United States approves $3 billion financing for PNG LNG. Greengate advised on this transaction, the largest financing in Ex-Im Bank's history.