ACCIONA, in partnership with Sacyr and Plenary Americas (Calcasieu Bridge Partners), has been awarded the 2024 Proximo North America Roads Deal of the Year for the new I-10 interstate highway concession project in Louisiana, USA.

Valued at $1.3 USD billion, this project is the largest and most complex public-private partnership (P3) undertaken in the state. The project scope includes the reconstruction of a six-lane highway, the construction of multiple structures, including the new bridge, implementation of a free-flow tolling system, and the demolition of the existing bridge.

In collaboration with Louisiana Department of Transportation and Development, the project utilizes an availability payment structure that reduces financial risk to the state. Supported by toll revenues and private capital, the project represents a sustainable model for delivering critical infrastructure through public-private partnerships.

Funding includes both public and private sources. The State of Louisiana will contribute approximately US$1.196 billion (€1.097 billion) during the construction phase, disbursed as work progresses. Long-term financing is supported by the issuance of US$1.332 billion (€1.222 billion) in tax-exempt Private Activity Bonds (PABs) across four tranches, with maturities between 2054 and 2066. J.P. Morgan Securities LLC and Wells Fargo Bank, N.A. acted as key financial participants. The remaining private equity will be invested upon project completion.

The Proximo Deal of the Year Awards, held this year in Tennessee, are recognized as a benchmark of excellence in project, infrastructure, and energy finance. The awards celebrate standout achievements across North America, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific region.