Sydney Airport

Pro-invest Group recipient of Aareal Bank’s largest green hotel portfolio loan in Asia-Pacific

Retrieved on: 
Wednesday, April 10, 2024

Aareal Bank announced the first ever green loan governed by its Green Finance Framework in July 2021 with the financing of Pro-invest's Holiday Inn Express Macquarie Park in Sydney.

Key Points: 
  • Aareal Bank announced the first ever green loan governed by its Green Finance Framework in July 2021 with the financing of Pro-invest's Holiday Inn Express Macquarie Park in Sydney.
  • Approximately two and a half years later, following a strategic refinancing initiative of Pro-invest Group’s Fund I portfolio, a total of five hotels within this funding forms Aareal Bank’s largest green loan for a hotel portfolio in the APAC region.
  • Aareal Bank acted as the arranger and sole lender in the financing of this hotel portfolio.
  • The success of this green financing initiative has been supported by rigorous assessments and advisories, with Sustainalytics providing a Second Party Opinion (SPO) confirming the alignment of Aareal Bank’s Green Finance Framework with the Green Loan Principles 2023.

Assured Guaranty Hires Melissa Gribble to Lead Business Development in Australia

Retrieved on: 
Monday, March 4, 2024

Assured Guaranty Ltd. (NYSE:AGO) (together with its subsidiaries, Assured Guaranty), the leading financial guaranty insurance company, has hired Melissa Gribble to expand its reach within the Australian market.

Key Points: 
  • Assured Guaranty Ltd. (NYSE:AGO) (together with its subsidiaries, Assured Guaranty), the leading financial guaranty insurance company, has hired Melissa Gribble to expand its reach within the Australian market.
  • “We are excited that Melissa has joined Assured Guaranty to lead our initiatives in the Australian market,” said Ms. Dar.
  • Ms. Gribble will focus on sourcing new opportunities for Assured Guaranty’s financial guarantee business in the infrastructure, utilities and structured finance markets.
  • “With its nearly 40-year track record of reliability and financial strength, Assured Guaranty has significant untapped potential in the Australian financial markets.

Aireon Advancing Aviation with Investment in Next-Generation Data Products

Retrieved on: 
Monday, October 16, 2023

MCLEAN, Va., Oct. 16, 2023 /PRNewswire/ -- Aireon, the leader in space-based automatic dependent surveillance-broadcast (ADS-B) data for the global aviation industry, is set to expand its data product and services portfolio, bolstered by a new credit facility from Global Infrastructure Partners (GIP).

Key Points: 
  • Aireon, the leader in space-based ADS-B, is set to expand its data product portfolio, boosted by a new credit facility.
  • Having already established itself as the best-in-class provider of accurate, reliable, and global ADS-B data, Aireon is leveraging its market-leading position to drive innovation in data analytics and products for the global airspace.
  • In the 11 years since Aireon was created, we have become a critical part of the aviation infrastructure.
  • And now, we are increasing our investment in the business to create new value-added aviation data products for the industry," said Don Thoma, Aireon CEO.

Aireon Advancing Aviation with Investment in Next-Generation Data Products

Retrieved on: 
Monday, October 16, 2023

MCLEAN, Va., Oct. 16, 2023 /PRNewswire/ -- Aireon, the leader in space-based automatic dependent surveillance-broadcast (ADS-B) data for the global aviation industry, is set to expand its data product and services portfolio, bolstered by a new credit facility from Global Infrastructure Partners (GIP).

Key Points: 
  • Having already established itself as the best-in-class provider of accurate, reliable, and global ADS-B data, Aireon is leveraging its market-leading position to drive innovation in data analytics and products for the global airspace.
  • In the 11 years since Aireon was created, we have become a critical part of the aviation infrastructure.
  • And now, we are increasing our investment in the business to create new value-added aviation data products for the industry," said Don Thoma, Aireon CEO.
  • In addition to investment in products, Aireon will be investing in talent as well; the company plans to hire for sales, business development, and engineering roles.

Even if Qantas is fined hundreds of millions it is likely to continue to take us for granted

Retrieved on: 
Wednesday, September 27, 2023

But there are reasons to think they won’t.

Key Points: 
  • But there are reasons to think they won’t.
  • Qantas does face competition on international routes, although the government’s action in denying Qatar Airways extra landing rights has constrained that competition.
  • One could put it more generally: Qantas had the power to treat customers worse than it would otherwise have been able to.

What the ACCC alleges

    • The ACCC alleges Qantas engaged in false, misleading or deceptive conduct in breach of the Australian Consumer Law in 2022 by selling tickets for flights that had already been cancelled, and by falsely representing to consumers who already had tickets that their flights had not been cancelled.
    • a person must not, in trade or commerce, engage in conduct that is misleading or deceptive or is likely to mislead or deceive.
    • While the ticket contracts may have included disclaimers, these would be unlikely to have force in the face of Section 18.

Qantas ill-prepared for questions

    • At Wednesday’s Senate hearing Qantas chief executive Vanessa Hudson and Chairman Richard Goyder were not prepared to answer several questions, asking for them to be put on notice.
    • Pressed on whether Qantas would publish a redacted version of its representations to the government about foreign airlines’ bids for landing rights, Hudson declined, although she said Qantas would provide them in confidence.

What matters to Qantas is slots

    • While there is little that can be done to make Qantas more responsive to its customers while it dominates the domestic aviation market, freeing up landing slots at airports would help loosen that dominance.
    • The current rules allow incumbent airlines such as Qantas to apply for more slots at airports such as Sydney than they will require, so long as they use them 80% of the time.
    • Implementing needed reforms to free up slots at key airports would help to promote better consumer outcomes.

Electric vehicle fires are very rare. The risk for petrol and diesel vehicles is at least 20 times higher

Retrieved on: 
Saturday, September 16, 2023

Five cars were destroyed after a lithium battery ignited in a car parked at Sydney Airport on Monday.

Key Points: 
  • Five cars were destroyed after a lithium battery ignited in a car parked at Sydney Airport on Monday.
  • Despite these incidents, electric vehicle battery fires are rare.
  • Indeed, the available data indicate the fire risk is between 20 and 80 times greater for petrol and diesel vehicles.

How common are these fires?

    • From 2010 to June 2023, its database records only 393 verified fires globally, out of some 30 million electric vehicles on the road.
    • Australia recorded only four electric vehicle battery fires over the same period.
    • Read more:
      Australia’s adoption of electric vehicles has been maddeningly slow, but we’re well placed to catch up fast

Are the risks higher than for petrol or diesel cars?

    • As electric vehicle numbers grow, this week’s reports might lead some people to fear fire risks will increase.
    • However, data for the past 13 years suggest quite the opposite is true as electric vehicles replace petrol and diesel vehicles.
    • The fleet of 4.4 million petrol and diesel vehicles recorded 3,400 fires (0.08%).
    • While it was difficult to find similar global statistics for petrol and diesel vehicles, EV Firesafe used a range of country reports and found a much higher 0.1% risk of catching fire.

What causes electric vehicle fires?

    • Electric vehicle battery packs store a lot of energy in a very small space.
    • About 95% of battery fires are classed as ignition fires, which produce jet-like directional flames.
    • Read more:
      How far to the next electric vehicle charging station – and will I be able to use it?

A battery fire is challenging

    • Lithium battery fires burn at extremely high temperatures, can last for days and cause extensive damage.
    • If not managed properly, battery fires can emit highly toxic gases and chemicals for many hours.
    • Methods to control a fire include cooling the battery with water, or using a crane to lift the vehicle and submerge it in a large water container.

Why are the risks higher in e-scooters and e-bikes?

    • In the first half of 2023, EV Firesafe data show they accounted for more than 500 battery fires, 138 injuries and 36 deaths worldwide.
    • Over the same six months, 35 electric vehicle battery fires resulted in eight injuries and four deaths.
    • The higher risk for e-scooters and e-bikes is mainly linked to poor-quality battery design and construction, and the use of unapproved chargers.

A national approach to electric vehicle fire safety

    • As part of the strategy, the federal government committed to funding the development of world-leading guidance on electric vehicles, road rescue demonstrations and fire safety training.
    • The surge in electric vehicle numbers means this funding is needed now to ensure firefighters can deal effectively with any fires that do happen.

How air travellers can cut their door-to-door emissions right now – by as much as 13% on the Sydney-Melbourne route

Retrieved on: 
Monday, August 7, 2023

For many of us, especially in Australia, flying is an essential form of transport, so how can we reduce its environmental impact?

Key Points: 
  • For many of us, especially in Australia, flying is an essential form of transport, so how can we reduce its environmental impact?
  • Getting to and from the airport is an overlooked aspect of air travel that offers an immediate way to cut total carbon emissions from the trip by a surprisingly large amount.
  • At a global scale, this number reaches 12.1% for long-haul flights and up to 22.8% for short-haul air journeys.
  • Read more:
    There’s a buzz about ‘sustainable’ fuels – but they cannot solve aviation's colossal climate woes

So how can travellers be convinced to switch?

    • It’s a bit like how the nutrition label on the back of our cereal box helps us choose healthier options.
    • Our air-travel carbon emissions are divided into ground and air segments and counted as airport and airline emissions respectively.
    • Although travel platforms are increasingly communicating gate-to-gate emissions to consumers, we’re not aware of any that are including door-to-door emissions.
    • Read more:
      Bucking the trend: Is there a future for ultra long-haul flights in a net zero carbon world?

Give airlines an incentive to inform passengers

    • As consumers, we have relationships with airlines that we don’t have with airports.
    • Through these channels, airlines learn about us and how we tick when it comes to making flying choices.
    • This puts them in an ideal position to keep us informed about door-to-door travel and drive the transition towards greener airport ground-connection options.
    • To give them an incentive to do so, their efforts should be recognised through emission accounting.

A cost-effective way to cut emissions

    • Travellers using the Sydney Airport train station must pay an access fee, which adds A$15.74 to the cost of the journey.
    • As our paper highlights, the average customer using the airport train removes 2.7kg of CO₂.
    • This overlooked opportunity to cut door-to-door emissions from air travel has a substantial upside.

Turtles on the tarmac could delay flights at Western Sydney airport

Retrieved on: 
Monday, July 3, 2023

Amid the controversy surrounding preliminary flight paths for Western Sydney’s new airport, another potential challenge is looming: turtles on the tarmac.

Key Points: 
  • Amid the controversy surrounding preliminary flight paths for Western Sydney’s new airport, another potential challenge is looming: turtles on the tarmac.
  • In recent years, a freshwater turtle was found wandering around Sydney Airport, which is built on Botany Bay.
  • And at John F. Kennedy International Airport in New York, employees carried 1,300 turtles off the tarmac in one nesting season alone.
  • Read more:
    Our turtle program shows citizen science isn't just great for data, it makes science feel personal

Western Sydney airport is turtle nesting habitat

    • And data collected through the 1 Million Turtles citizen science tool TurtleSAT reveals Western Sydney is a roadkill hotspot.
    • Wetlands, including the area around the new airport at Badgerys Creek, serve as prime nesting habitat.
    • A spokesperson for Western Sydney airport, contacted for comment on this story, said all of the required wildlife and risk management procedures would be in place when the airport opens in late 2026.
    • She said the turtle habitat was well outside of the airport site, so the risk of turtles on the runway was negligible.

Turtles at the crossroads

    • Turtles are often little more than an afterthought in hectic construction plans and timetables.
    • While groups such as Turtle Rescue NSW can relocate wildlife such as turtles, eels and fish, many animals die when streams and wetlands are drained and filled during development.
    • This is important to ensure the long-term survival of turtles in the region.

It’s not too late for Western Sydney’s turtles

    • The likely presence of turtles on runways at Western Sydney’s new airport warrants immediate attention.
    • We acknowledge the vital contribution of Western Sydney University masters student Harriet Gabites to research on the turtles of Western Sydney and this article.
    • James Van Dyke receives funding from the Australian Research Council and the Australian Federal Citizen Science program.

GLOBAL INFRASTRUCTURE PARTNERS ANNOUNCES THE ELECTION OF SIX NEW PARTNERS

Retrieved on: 
Thursday, February 2, 2023

NEW YORK, Feb. 2, 2023 /PRNewswire/ -- Global Infrastructure Partners ("GIP"), a leading independent global infrastructure investor, today announced that Ari Droga, Ronnie Hawkins, Gregg Myers, Russell Smith, Virasb Vahidi, and Adrian Witherow have been elected Partners of the Firm, effective January 1, 2023.

Key Points: 
  • NEW YORK, Feb. 2, 2023 /PRNewswire/ -- Global Infrastructure Partners ("GIP"), a leading independent global infrastructure investor, today announced that Ari Droga, Ronnie Hawkins, Gregg Myers, Russell Smith, Virasb Vahidi, and Adrian Witherow have been elected Partners of the Firm, effective January 1, 2023.
  • The record number of new Partners elected across the Firm reflects both the growth of GIP and the talent of our professionals.
  • Previously, he was a Managing Director at EIG Global Energy Partners, as well as Harbour Energy.
  • Before joining GIP, he served as the CEO of the Port of Brisbane and COO Transport for Prime Infrastructure and Brookfield Infrastructure.

Partners Group to sell CWP Renewables, a major Australian renewable energy platform

Retrieved on: 
Sunday, December 18, 2022

Partners Group to sell CWP Renewables, a major Australian renewable energy platform

Key Points: 
  • Partners Group to sell CWP Renewables, a major Australian renewable energy platform
    Partners Group built CWP from the ground up, transforming it into one of the largest renewable energy platforms in Australia
    The Platform has 1.1 GW of operational onshore wind assets, including Murra Warra I & II
    Renewable energy is a core thematic focus for Partners Group, which seeks to invest in next-generation infrastructure assets that benefit from decarbonization trends
    Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to sell CWP Renewables ("CWP" or "the Platform"), a vertically integrated renewable energy platform in Australia, to Squadron Wind Energy Assets.
  • CWP's renewable energy platform spans onshore wind and battery farms, and provides power to clients including Transurban, Woolworths Group, Sydney Airport, Commonwealth Bank, and Snowy Hydro.
  • Partners Group developed CWP from the ground up in line with its long-term and thematic approach to investing in next-generation infrastructure assets that benefit from decarbonization trends.
  • Partners Group has invested over USD 3.8 billion in renewable energy assets globally.