Tap pension funds to finance nuclear plant, government urged

first_img“Pension funds really want to invest in infrastructure, and there’s no shortage of capital if the projects are structured in the right way with the right risk/return characteristics,” he told IPE.“[Wylfa Newydd] is a large project, relatively early in planning. The Thames Tideway is a pretty good model, so why not think about something similar?”The government has granted some guarantees to Thames Tideway investors, and it began paying backers a yield as soon as construction started.Weston added: “Thames Tideway was quite a success in accessing pension fund capital. It is an option that was proven to work. I’m not saying it would be exactly the same – it’s very different building a nuclear power station to digging a tunnel underneath London – but it’s a big construction project that will take a number of years to get built. It makes sense to look at Thames Tideway and see if those basic building blocks can be applied.”In July last year, Dalmore Capital – which manages money on behalf of the PiP – formed part of the Bazalgette Consortium that will finance the £4.2bn (€5bn) Thames Tideway Tunnel.In addition to Dalmore, the group included Allianz Capital Partners, Amber Infrastructure Group, DIF and Swiss Life Asset Managers.Last week, the PiP announced its first co-investment arrangement with founding investor Railpen.The £21bn pension fund invested alongside the platform to provide £20.3m of funds to refinance debt linked to a portfolio of nearly 2,000 rooftop solar panels. The UK government should utilise pension scheme demand for infrastructure to help fund a new nuclear power plant in North Wales, according to the chief executive of the Pensions Infrastructure Platform (PiP).Mike Weston, who has led the PiP since its formation in 2014, said the government should consider a similar funding structure to that employed in 2015 when securing institutional backing for the Thames Tideway Tunnel, a project to modernise London’s sewers.The site for the nuclear power station in Wylfa Newydd on the island of Anglesey is owned by Hitachi.The company is reportedly in talks with the Japanese government to secure funding for its construction, but Weston argued that it could be an ideal investment for UK pension funds.last_img read more

Dominica government discusses re-developmental plans for city of Roseau

first_imgLocalNews Dominica government discusses re-developmental plans for city of Roseau by: – January 6, 2012 Sharing is caring! Share Tweet Urban Renewal Minister Julius TimothyUrban Renewal Minister Julius Timothy has announced that the government of Dominica is discussing a re-development plan for the City of Roseau which will assist in forming a clean and beautiful city.Mr. Timothy who addressed the official launching of the Dominica Solid Waste Management Corporation’s “Adopt-A-Block” Programme on Thursday said part of the re-developmental plans will include a new site for the Wesley High School and the House of Justice.According to Mr. Timothy a team headed by Prime Minister Roosevelt Skerrit discussed the re-developmental plans for the city and this discussion can “bear fruits” within six months.“Just this morning before coming here the honorable prime minister, Senator Alvin Bernard, myself, and the Ministry of Education we were looking at the whole urban renewal program of the city of Roseau. Among other things, we are looking at where we place the new halls of justice, where we relocate the Wesley High School to and what we do with the Dominica Grammar School playing facilities. Those were what we are looking at this morning and we expect that very soon, at least within the next six months, that you the residents will see the fruits of our planning,” he said.Mr. Timothy reiterated that these are only “some of the plans for the whole re-development of and keeping our main city clean”.Meantime Mr. Timothy noted that there is a major double-parking problem in the city which is a hazard that needs to be addressed. “We do have a major problem with double parking in Roseau and we’re going to have to devise parking areas and my view is that the streets should be one side parking. A Street should be one side parking so that anytime you have emergency vehicles, anytime you have particularly foreign dignitaries that they can move through the traffic in order. A lot of us have gone overseas and whenever you have foreign dignitaries; a president, prime minister, they do not line up in traffic.”Mr. Timothy said one of the ways to ensure s a continuous flow of traffic is by parking on side of the street but this cannot be facilitated in Roseau, because “we have parking on both sides of the streets”.He suggests that parking areas are created and that vehicles are limited to parking on one side of the street so that emergency vehicles can move through.Dominica Vibes Newscenter_img Share 4 Views   no discussions Sharelast_img read more