The future European PPP market at the end of 2017 looked as follows, according to available data:
- 61 projects are currently in the PPP pipeline, for a total aggregate value of EUR 18.1 billion;
- As shown in Annex 4, and consistent with the trend observed among projects that reached financial close in 2017, Turkey has the largest PPP pipeline in terms of value, with a total of EUR 4.2 billion of projects currently in the tender process. France leads the PPP pipeline in terms of number of projects, with 12 projects currently in the tender process;
- 11 countries have at least two PPP projects in the tender process and 21 countries have at least one;
- As Annex 5 shows, the transport sector is expected to remain the largest, both in terms of value and number of projects, with 19 tendered PPP projects worth over EUR 12.6 billion;
- The environment sector is the second most active in the PPP pipeline in terms of value (EUR 1.5 billion), and the education sector is the second largest in terms of number of projects in the tender process (9 projects across 6 countries); and
- Annex 6 distinguishes tendered projects and those already at a later stage of procurement (i.e. shortlisting of proponents or commercial close) by country - both in terms of value and in number of projects. Turkey, the Netherlands and the UK display high proportions of projects already in the later stages of the procurement process.
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8 Introduced for the first in this year's edition of the Market Update, the 'PPP pipeline' is a forward-looking exercise aimed at capturing the emerging trends for the European PPP market, based on:
- The number and value of PPP projects currently at the tender stage in the European market;
- The year in which the contract notice has been issued, and whether the project has or has not moved forward since this stage. We have not included projects which have been in the tender stage for longer than five years without reaching financial close;
- The current stage of the procurement process, divided for the purposes of clarity between the start of the tender process (i.e. through the publication of the contract notice) to the shortlisting of proponents, and a later one (i.e. from the shortlisting of proponents to financial close).
As the availability and quality of data on transactions at tender stage is limited and/or of poor quality in places, the information provided in this section should be treated with caution.