Stoneway's Las Palmas project site in Argentina
January 10, 2018 - Project Finance International (PFI) announced its PFI Awards in the recently published 2018 PFI Yearbook, an annual publication that looks at events from the previous year. In its Americas Awards for Deals of the Year, Stoneway Capital Corporation was recognized as having secured the Latin American Bond Deal of the Year, a deal for which Sargent & Lundy served as the technical advisor for the due diligence of four simple cycle combustion turbine power plants in Argentina. Subsequently, Sargent & Lundy was engaged to carry out the construction monitoring of the four power plants as independent engineer.
The Stoneway deal, the first project bond issue in Argentina and the first non-recourse project financing in the country in more than two decades, is additionally notable for its aggressive speed of execution and its innovative nature.