2025 Global Project Finance Outlook

This report was produced by DBRS Morningstar, a member of IPFA. 

DBRS Morningstar’s outlook for project finance in 2025, which includes renewable wind, solar and run of river hydro, thermal gas generation, midstream pipeline assets, digital infrastructure, and bespoke assets, is largely stable. Their team anticipate that their existing portfolio of credit ratings will remain relatively unchanged in 2025 on a structural basis, as project finance transactions generally are designed to shield cash flow and credit metrics from macroeconomic volatility through strong creditworthy offtakers, long-term take or pay offtake contracts with mitigated pricing or volume risk.

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