Figure 14: Prevalence of Significant Events by region

For the purposes of this study, a range of events were classified as Significant Events.These were:

  • Insolvency, either of the Project Company or a major contractor

  • Change of the construction or operations contractor

  • Step-in, either by Procuring Authority or Lenders

  • Termination of the project, either by the Procuring Authority or Project Company

  • Force Majeure events

  • Material Adverse Government Actions (MAGA)

  • Uninsurable events

The prevalence of these events is shown above. The key events are described in further detail in section 4.2 (Force Majeure Events).