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South Korean military invests in Hastings' TIF fund

South Korea’s military welfare fund has invested $43 million in Hastings Funds Management's The Infrastructure Fund (TIF) to become the Australian fund’s first offshore investor.

Nepal's PPP law on ice

Nepal’s introduction of a PPP law has stalled while the country negotiates electricity import and export tariffs with neighbor India it is understood

Jaiprakash finds hydro buyer days after Taqa pull out

Jaiprakash Power Ventures has signed a memorandum of understanding (MoU) with Reliance Power for the sale of three hydro power plants, just days after a deal for the sale of two of the plants to an Abu Dhabi National Energy (Taqa) led consortium fell through

EBRD to fund Tajik hydro modernisation

The European Bank for Reconstruction and Development (EBRD) will lend $50 million for the first phase of the modernisation of the Qairokkum hydropower plant in Tajikistan

Mozambique’s Moatize IPP signing delayed

An ACWA Power-led consortium has pushed back the expected date of financing documents signing for its 600MW Moatize independent power project in Mozambique

OPWP to pick Salalah 2 winner in September

Oman Power and Water Procurement Company (OPWP) has pushed back the final bid deadline for the Salalah 2 independent power project

Saudi Aramco and SEC launch Fadhili CHP tender

Saudi Aramco and Saudi Electricity Company (SEC) has launched the tender for the Fadhili combined heat and power (CHP) project in Saudi Arabia

1MDB signs PPA for 3B power project

1Malaysia Development and Mitsui have signed a 25-year power purchase agreement (PPA) with state-owned utility Tenaga Nasional Berhad for the R11 billion 3B power project in Malaysia

Taqa pulls out of Indian hydroelectric deal

An Abu Dhabi National Energy (Taqa) led consortium has withdrawn from a $1.6 billion deal to buy two Indian hydroelectric power plants from Jaiprakash Power Ventures due to change in business strategy, according to a Bombay Stock Exchange (BSE) filing

Toyo Thai appoint FA for Myanmar power plant

Toyo Thai has appointed SMBC as financial adviser for its proposed $2.5 billion 1,280MW coal-fired independent power plant (IPP) in Myanmar’s Mon state

NRG and JX Nippon near close on Petra Nova Project

NRG and JX Nippon Oil & Gas Exploration Corporation is planning to close – in the next few weeks – on the debt portion of their financing for the carbon capture and storage (CCS) project in Texas

UK capacity market receives EU approval

The European Commission has given its approval to the proposed UK capacity market, which aims to ensure that sufficient electricity supply is available to cover consumption at peak times

BRICS unveil New Development Bank (NDB)

The BRICS nations – Brazil, Russia, India, China and South Africa – have unveiled the New Development Bank (NDB) which will mobilise resources for infrastructure and sustainable development projects

1MDB mandates two more banks for 3B

1MDB and Mitsui are understood to have mandated two further banks for the debt financing for the roughly R11 billion ($3.2 billion) Project 3B power project in Malaysia

EIF nears launch for Pio Pico project bond

Energy Investors Funds (EIF) is planning to launch roughly $400 million in bonds next week for the Pio Pico gas-fired peaking power project in California

Egypt prepares Dabaa nuclear tender

Egypt’s Ministry of Electricity intends to launch an international tender for the construction of two nuclear power stations in the Matruh governorate before the end of 2014