Listen to a discussion led by Keith Martin, partner at Norton Rose Fulbright, among John C.S. Anderson, global head of corporate finance and infrastructure at Manulife, Jean-Pierre Boudrias, managing director and head of project finance for North America at Goldman Sachs, Jack Cargas, managing director at Bank of America, Ralph Cho, co-head of the North American power and infrastructure group at Investec, and Yale Henderson, managing director at J.P.Morgan, about what to expect in the year ahead for tax equity, bank and term loan B debt and project bonds.
Thirteen sectors with a combined $3.4 trillion in debt have very high or high environmental credit risk as the transition to a low-carbon economy gathers pace, Moody’s Investors Service said in its new environmental heat map report today. Total debt held by sectors with heightened environmental credit risk rose 49% since Moody’s previous analysis in 2018 and 64% since its 2015 report. Integrated oil and gas companies and automotive parts suppliers have moved to high environmental credit risk from moderate risk since 2018.
We are going to build a lot more wind and solar over the coming decades. It will inevitably lead to oversupply of these resources on the grid. But is that a good thing? That’s the focus of this week’s show, featuring a conversation between Shayle Kann and Columbia University’s Melissa Lott. The stars have aligned for a rare win-win-win situation: Solar and wind are popular with politicians; they’re popular with customers; and they’re often the lowest-cost resource, making them an attractive bet for investors.