Insights

Opinion pieces from the team, and uses cases covering private markets, infrastructure investment, climate change, social risk, and more.

Featured image for “Ebitda Mutiple Comps: Millau Viaduct”

Ebitda Mutiple Comps: Millau Viaduct

Jun. 27, 2023
Eiffage, a French infrastructure operator, has strengthened its hold on the Millau Viaduct concession by acquiring the remaining 49% stake from Banque des Territoires, thus gaining full ownership. The Millau Viaduct, standing among the most elevated bridges globally, was built to reduce traffic congestion and improve traffic flow between Paris and Barcelona. It provides a direct route between the two
Featured image for “Social Acceptability Index Highlights Growing Concerns Over UK Sewerage Sector”

Social Acceptability Index Highlights Growing Concerns Over UK Sewerage Sector

May. 25, 2023
EDHECinfra has created a suite of Social Acceptability Indices. To demonstrate their utility, we thought we would analyse a sector that is always in the news, the UK sewerage sector, where risk just materialised with an expected GBP80m fine of South West Water. If that’s not double materiality, I don’t know what is! For some context, the UK privatised its
Featured image for “Ebitda Multiple Comps Anzi Windfarm”

Ebitda Multiple Comps Anzi Windfarm

May. 25, 2023
In April, Fri-El Green Power SpA’s subsidiary, Alerion Clean Power SpA, purchased 51% of Fri-El Anzi Srl, an Italian firm that manages an electric power generation facility in Bolzano. The acquisition was completed for a sum of €18.8M. The company has been operating an onshore windfarm in Anzi, Italy since June 2011. The windfarm consists of eight Vestas V90/2000 turbines
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Benchmark your Climate Risks in infraMetrics®

Apr. 25, 2023
As investors consider the climate risks of their portfolio, transition risk looms large as it impacts all assets at least within one sector at the same time. In parallel to pledges to decarbonise in real terms, the impact of transition risk on asset values remains an important question of financial materiality for investors in infrastructure. As always with asset prices,
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Towards more frequent marks

Apr. 25, 2023
Recently APRA, Australia’s pension regulator called for comment on the update of “SPG 530 Investment Governance” – a Prudential Practice Guide. This, combined with the update to SPS 530 – the Investment Governance prudential standard is interesting for infrastructure investors. Key questions are what is happening, why, and what this means for infrastructure investments? Firstly, what is happening? APRA is
Featured image for “Is UK Wind still expensive?”

Is UK Wind still expensive?

Apr. 25, 2023
In March 2023, INPEX Corporation acquired a 16.7 percent stake in the Moray East Offshore Wind Farm, which is currently in operation off the coast of Scotland, with an installed capacity of 950MW produced by one hundred 9.5-megawatt units. Priced at an estimated GBP400m, indicating a total equity value of approximately GBP2.4bn, the acquisition was carried out through INPEX Renewable