Global Project Development & Finance Expertise: A Comprehensive Overview
Project development and financing are critical drivers of global infrastructure, energy, and economic growth. Legal counsel plays a vital role in structuring, negotiating, and implementing these projects, addressing complexities such as regulatory compliance, risk management, financing structures, and cross-border challenges.
This guide provides a detailed insight into the practices and expertise of a global Project Development & Finance Group, highlighting its specialization in diverse financing structures, including Islamic finance, and its ability to deliver innovative, seamless, and commercially viable solutions.
1. Global Reach and Multidisciplinary Expertise
With over 300 professionals in 33 offices across five continents, the group offers:
- Sector-specific expertise: Energy, natural resources, infrastructure, mining, transportation, and more.
- Comprehensive services: From project structuring and financing to dispute resolution and regulatory compliance.
- Regional specialization: Expertise in local laws across regions such as the Middle East, Africa, Asia, and Europe.
2. Islamic Finance Leadership
The group is a recognized leader in Islamic finance, offering:
A. Shari’ah-compliant Financing Structures
Islamic finance involves unique structures adhering to Shari’ah principles, such as:
- Sukuk (Islamic bonds): Asset-based or asset-backed securities.
- Murabaha: Cost-plus financing agreements.
- Ijara: Lease-based arrangements.
- Istisna and Salam: Contracts for manufacturing and forward sales.
B. Innovative Solutions and “Firsts”
The team has pioneered several groundbreaking Islamic finance transactions, including:
- Landmark Sukuk issuances:
- Saudi Aramco’s $10 billion Sukuk program.
- The Kingdom of Saudi Arabia’s $9 billion sovereign Sukuk.
- Sadara Basic Services Company’s greenfield project Sukuk.
- Project finance milestones:
- The first Islamic public-private partnership (PPP) financing in Saudi Arabia (Hajj Terminal).
- The first long-term Islamic project financing (Qatargas II).
C. Regional Expertise
On-the-ground teams in Dubai, Abu Dhabi, and Riyadh ensure compliance with local laws and regulations. Their longstanding relationships with leading Shari’ah scholars enhance the structuring of innovative and compliant transactions.
3. Project Development and Finance
A. Core Services
The group supports clients across the entire project lifecycle, including:
- Structuring and negotiating contracts: Concession agreements, EPC contracts, PPAs, and financing agreements.
- Regulatory and compliance advice: Obtaining permits, approvals, and aligning with ESG and sustainability goals.
- Risk management: Political risk insurance, liquidity support mechanisms, and dispute resolution.
B. Financing Structures
The team offers expertise in diverse financing models:
- Traditional Financing: Commercial and investment bank loans.
- Project Bonds: Debt instruments tied to specific infrastructure projects.
- Export Credit Agency (ECA) and Development Finance: Partnerships with ECAs and DFIs to support large-scale projects.
- Islamic Finance: Shari’ah-compliant solutions tailored to local and global markets.
C. Expertise in Complex Projects
The group has advised on:
- Energy and Natural Resources: Solar farms, offshore wind, LNG terminals, and carbon capture projects.
- Infrastructure: High-speed rail, airports, water desalination plants, and stadiums.
- Mining and Metals: Development of mining projects and associated facilities.
4. Addressing Energy Transition
The energy transition represents a fundamental shift toward sustainable and renewable energy sources. The group offers:
A. Core Pillars of Energy Transition
Expertise spans key areas such as:
- Hydrogen and Carbon Capture: Structuring and financing pioneering projects.
- Renewables: Large-scale solar, wind, and hydro projects.
- Infratech & Digital Infrastructure: Integrating digital innovations into traditional infrastructure.
B. Regulatory and Compliance Support
Services include:
- Aligning projects with ESG principles.
- Navigating sustainability reporting and disclosure requirements.
- Implementing carbon pricing and trading mechanisms.
C. Notable Projects
- Advising on the world’s largest solar and offshore wind projects.
- Structuring the first wave of green hydrogen projects.
5. Seamless Cross-Border Collaboration
The group’s global connectivity ensures:
- Integrated Teams: Lawyers fluent in New York, English, and local laws work seamlessly across jurisdictions.
- Real-time Market Intelligence: Access to global best practices and local insights for tailored solutions.
- Efficient Execution: Proven ability to close complex deals within demanding timelines.
6. Dispute Resolution and Risk Mitigation
A. Litigation and Arbitration
The group represents clients in:
- Investment treaty arbitrations.
- Disputes under the Energy Charter Treaty.
- Mediation, expert determination, and court litigation.
B. Risk Management
Strategies include:
- Drafting stabilization clauses in contracts.
- Implementing political risk insurance.
- Structuring security packages and reserve accounts.
7. Expertise in Engineering, Procurement, and Construction (EPC)
The group advises on:
- Drafting and negotiating EPC contracts for large-scale projects.
- Managing construction risks and aligning them with financial structures.
- Resolving construction disputes through litigation or arbitration.
8. Notable Achievements and Recognitions
A. Track Record of Innovation
- Successfully closed “first-in-country” and “first-in-technology” projects.
- Advised on the first international Shari’ah-compliant financing for a Russian institution.
B. Awards and Rankings
- Band 1 ranking for Projects & Energy across major regions (Chambers & Partners, 2023).
- Recognized as the #1 global law firm for project finance by IJGlobal and Clean Energy Pipeline in 2022.
C. Client Testimonials
Clients praise the group’s commercial acumen, deep sector knowledge, and ability to navigate bankability issues.
The Project Development & Finance Group’s global expertise, innovative approaches, and deep sector knowledge make it a leader in the field. Whether advising on Islamic finance structures, complex EPC contracts, or energy transition projects, the group delivers tailored solutions that align with clients’ long-term goals. With a proven track record of “firsts” and seamless cross-border collaboration, the group is well-equipped to handle the most challenging and high-profile projects worldwide.