Refinancing events involving either a change in lender or which enable an equity provider to withdraw funds from the project can be of benefit to the overall PPP market. The funds freed up by the refinancing become available to fund other projects and help progress the flow of new deals seeking finance. A refinancing enabling an equity provider to withdraw funds from an existing project may be particularly beneficial where the equity provider is seeking to free up funds for another project but either does not want to dispose of its stake in the existing project, or is constrained from doing so by the change in control provisions in the project deed.