Infrastructure As an Asset Class : Investment Strategy, Sustainability, Project Finance and PPP.

Intro -- Infrastructure as an Asset Class -- Contents -- List of Figures -- List of Tables -- Preface -- A Note from the Publisher -- Acknowledgements -- About the Authors -- Introduction -- Background and Objectives -- Structure -- 1 Infrastructure - An Overview -- 1.1 Demand for Infrastructure -- 1.2 Sustainability and Infrastructure -- 1.2.1 Sustainability and sustainable development - a brief history -- 1.2.2 The need for sustainable infrastructure -- 1.3 Definition and Characteristics of Infrastructure -- 1.3.1 Differentiation of terms: project - asset - facility -- 1.3.2 Characteristics -- 1.3.3 Cross-sector characteristics -- 1.3.4 Types of infrastructure companies -- 1.3.5 Role of the private sector -- 1.3.6 Value chain elements -- 1.3.7 Greenfield versus brownfield investments -- 1.3.8 Yield-driven versus IRR-driven investors -- 1.3.9 Sources of revenue and financing -- 1.3.10 Competition and regulation -- 2 Infrastructure Investments -- 2.1 Infrastructure as an Asset Class -- 2.1.1 Investors in infrastructure -- 2.1.2 Risk-return profiles of unlisted infrastructure investments -- 2.1.3 Benchmarking infrastructure investments -- 2.1.4 Portfolio diversification through infrastructure -- 2.2 Sustainable Infrastructure Investing -- 2.2.1 Concept of sustainable investing -- 2.2.2 Why invest in sustainable infrastructure? -- 2.2.3 How to invest in infrastructure sustainably -- 2.2.4 Challenges of sustainable infrastructure investing -- 2.3 Approaches to Infrastructure Investing -- 2.3.1 Listed infrastructure investments -- 2.3.2 Unlisted infrastructure investments -- 3 Organisational Model -- 3.1 Privatisation Models -- 3.1.1 Privatisation versus PPP -- 3.1.2 Formal privatisation -- 3.1.3 Functional privatisation -- 3.1.4 Material privatisation -- 3.2 Partnership Models -- 3.3 Business Models -- 3.3.1 Availability payment models.

3.3.2 User-driven payment models -- 3.3.3 Direct-user payment models -- 3.4 Contractual Models -- 3.5 Financing Models -- 3.6 Interim Summary - Various 'Privatisation Paths' -- 4 Characteristics of Selected Infrastructure Sectors and Subsectors -- 4.1 Transport -- 4.1.1 Cross-sector characteristics -- 4.1.2 Road transport -- 4.1.3 Rail transport -- 4.1.4 Air transport -- 4.1.5 Water transport -- 4.1.6 Sustainability considerations -- 4.2 Water Supply and Sewage Disposal -- 4.2.1 Characteristics and organisation -- 4.2.2 Sources of revenue and value chain elements -- 4.2.3 Competition and regulation -- 4.2.4 Private-sector involvement -- 4.2.5 Sustainability considerations -- 4.3 Waste Disposal -- 4.3.1 Characteristics and organisation -- 4.3.2 Sources of revenue and value chain elements -- 4.3.3 Competition and regulation -- 4.3.4 Private-sector involvement -- 4.3.5 Sustainability considerations -- 4.4 Energy - Electricity -- 4.4.1 Overview -- 4.4.2 Generation - renewable electricity - cross-sector characteristics -- 4.4.3 Generation - solar energy -- 4.4.4 Generation - wind energy - onshore -- 4.4.5 Generation - wind energy - offshore -- 4.4.6 Generation - hydroelectric energy -- 4.4.7 Generation - bioenergy -- 4.4.8 Transmission and distribution -- 4.4.9 Electricity storage -- 4.4.10 Sustainability considerations -- 4.5 Energy - Natural gas networks -- 4.5.1 Characteristics and organisation -- 4.5.2 Transmission -- 4.5.3 Storage -- 4.5.4 Distribution -- 4.5.5 Sources of revenue and value chain elements -- 4.5.6 Competition and regulation -- 4.5.7 Private-sector involvement -- 4.5.8 Sustainability considerations -- 4.6 Energy - District Energy Systems (DES) -- 4.6.1 Characteristics and organisation -- 4.6.2 Sources of revenue and value chain elements -- 4.6.3 Competition and regulation -- 4.6.4 Private-sector involvement.

4.6.5 Sustainability considerations -- 4.7 Social Infrastructure -- 4.7.1 Healthcare facilities -- 4.7.2 Education facilities -- 4.7.3 Administrative facilities -- 4.7.4 Sustainability considerations -- 5 Risks -- 5.1 Risk management -- 5.2 General Risks -- 5.2.1 Market risk -- 5.2.2 Interest rate risk -- 5.2.3 Exchange rate risk -- 5.2.4 Environmental, social and governance (ESG) risk -- 5.2.5 Political, legal and regulatory risk -- 5.2.6 Force majeure -- 5.3 Project/Asset-specific Risks -- 5.3.1 Planning, construction and completion risk -- 5.3.2 Technical risk -- 5.3.3 Financing risk -- 5.3.4 Syndication risk -- 5.3.5 Operational risk -- 5.3.6 Contractual and counterparty risk -- 5.3.7 Realisation risk -- 5.4 Sector-specific Risks -- 6 Project Finance -- 6.1 Project Finance Basics -- 6.2 Project Finance and PPP -- 6.3 Basic Structure of Project Finance -- 6.3.1 Key characteristics -- 6.3.2 Participants and other stakeholders -- 6.3.3 Objectives and contributions of project participants -- 6.3.4 Typical contractual framework for project finance -- 6.4 Structuring Project Financings - Traditional and in PPPs -- 6.4.1 Phase I - Advisory -- 6.4.2 Phase II - Project assessment -- 6.4.3 Phase III - Risk analysis and allocation -- 6.4.4 Phase IV - Financing -- 6.4.5 Phase V - Implementation and monitoring -- 7 Financing Instruments -- 7.1 Equity -- 7.2 Mezzanine Capital -- 7.3 Debt -- 7.3.1 Senior loans -- 7.3.2 Bonds -- 7.3.3 Short-term finance -- 7.4 Government Support Schemes -- 7.4.1 National development banks -- 7.4.2 European Investment Bank (EIB) -- 7.4.3 European PPP Expertise Centre (EPEC) -- 7.4.4 Governmental export credit and direct investment insurance - ECAs -- 7.5 Asset-backed Securities -- 7.6 Sale and Leaseback -- 7.7 Derivatives -- 7.7.1 Futures -- 7.7.2 Options -- Concluding Remarks.

Appendix A Sample Page from CDC¹ Toolkit on ESG for Fund Managers -- Appendix B Credit List for Envisions Sustainable Infrastructure Rating System -- Appendix C Infrastructure Sustainability Rating System (Australia) -- Themes and Categories -- Appendix D National Appropriate Mitigation Actions (NAMAs) -- References -- Index -- EULA.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.