The aim is to access the institutional market directly, by improving the project ratings, from the current low-sub investment grade to well into the investment grade category (BBB+ or A-). The assumption is that this could be achieved by reasonable structural improvements of the PPP model, such as lower gearing and better completion undertakings.
Such lower gearing can be attained, for example, by injecting a layer of junior debt, provided by a public or public-private entity, between the equity and the senior debt.