Preface xi Acknowledgments xv CHAPTER 1 What Is Project Financing? 1 CHAPTER 2 The Rationale for Project Financing 13 CHAPTER 3 What Is Special about Large Projects? 33 CHAPTER 4 Who Finances Large Projects? 53 CHAPTER 5 Analyzing Project Viability 71 CHAPTER 6 Analysis and Financing of Renewable Energy Projects 91 CHAPTER 7 Designing Security Arrangements 115 CHAPTER 8 Structuring the Project 131 CHAPTER 9 Preparing the Project Financing Plan 151 CHAPTER 10 Discounted Cash Flow Analysis 169 CHAPTER 11 Financial Modeling and Project Evaluation 193 CHAPTER 12 Using Real-Options Analysis to Evaluate a Project 215 CHAPTER 13 Sources of Project Funds 239 CHAPTER 14 Managing Project Risks 271 CHAPTER 15 Sharia-Compliant Project Financing 305 CHAPTER 16 Issues for the Host Government 331 CHAPTER 17 Case Study: The Indiantown Cogeneration Project 347 CHAPTER 18 Case Study: The Tribasa Toll Road Project 379 CHAPTER 19 Case Study: The Euro Disneyland Project 399 CHAPTER 20 Case Study: The Eurotunnel Project 431 CHAPTER 21 Conclusion 457 APPENDIX A Comparative Terms of Selected Projects 463 APPENDIX B Other Examples of Project Financings 475 APPENDIX C Legal Investment Requirements Governing New York Life Insurance Companies 489 Notes 495 Bibliography 513 Websites 521 Index 523