The Kentucky High-speed broadband has to compensate private partners for years of delays due to its excessive amount of risk on its previous contract

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Although portions of the Kentucky Wired public-private partnership were supposed to go live in summer of 2016, the completion has been delayed until early 2020. The project has suffered several costly delays due to weather and difficulties securing agreements with property owners.

The Kentucky Wired network is supposed to stretch more than 3,000 miles to every county in the state. The network is expected to be be used to provide internet to state government buildings across Kentucky; additionally local companies will be able to lease part of the network to provide broadband service to communities.

The US$365 million project has been mostly financed with a bond taken out by private investors led by Macquarie Capital and backed using the state’s credit rating. In return, Kentucky agreed to pay the companies availability payments starting from US$30 million per year and escalating to nearly US$57 million in 2045. In addition, an US$88 million payment to the private partners for the delays and a renegotiation of the initial contract is being negotiated by Kentucky Wired officials.

List of the country updates

Country updates

  • September 04, 2018

    I Squared Capital closes ISQ Global Infrastructure Fund II at US$7 billion

    I Squared Capital has announced that it has closed its ISQ Global Infrastructure Fund II at the US$7 billion legal cap, exceeding an initial target of US$5 billion. The fund received commitments from...

    Read more
  • September 03, 2018

    Speedcast enters definitive agreement to acquire Globecomm

    Speedcast International has announced that it has entered into a definitive agreement to acquire Globecomm Systems Inc. from affiliates of HPS Investment Partners, LLC Tennenbaum Capital Par...

    Read more
  • August 31, 2018

    Illinois Municipal Retirement Fund recently revealed that it is to drop its US$100 million commitment to an infrastructure fund

    Previous commitments made to two real estate funds and one infrastructure fund were withdrawn by US$41.3 billion pension fund Illinois Municipal Retirement Fund, Oak Brook after a review of their...

    Read more
  • August 31, 2018

    Final RFP issued for Miami-Dade courthouse

    The Mayor of Miami-Dade County has confirmed that a final Request for Proposals (RFP) was issued for the Civil and Probate Courthouse project on 1 August 2018. This involves the design, construct...

    Read more
  • August 31, 2018

    US$350 million bonds to be issued to finance US$3.5 billion Canada-USA bridge PPP

    Bridging North America (BNA), a consortium consisting of ACS Group, Aecon Group and Fluor Corporation, is issuing CAD454.5 million (US$350.9 million) in medium to long-term bonds to fin...

    Read more

Share this update