With more than 200 dedicated lawyers located in offices around the globe, our worldwide Energy, Infrastructure and Project Finance (EIPF) group offers market-leading experience advising on legal matters related to project structuring and development, financing, government regulation, construction and other contract issues, and mergers and acquisitions across several sectors ranging from oil and gas, power, infrastructure and petrochemical to mining and metals, telecoms and public-private partnership/private finance initiative (PPP/PFI). We offer innovative solutions that help clients finance and develop projects in all major industries, and we advise on regulatory developments that can prove critical to a project's success. With access to White & Case's network of 36 offices spread over 25 countries around the world, our EIPF team offers virtually unrivalled insight into local business customs, labor practices and laws in multiple jurisdictions, enabling us to provide local depth to match our global breadth.
"One of the largest and most trustworthy project finance
law firms in the world with a good track record"
—Legal 500
More Than Just Lawyers
With extensive experience bringing a wide range of projects to completion, we provide more than just legal counsel; we provide business and strategic advice, and we can structure, negotiate and document the full array of project and financing agreements to suit each client's specific needs. Our team can help identify market, revenue, production, political and other risks, propose methods to mitigate those risks and advise on ways to minimize or reduce liabilities. We advise on everything from complex co-financings to capital markets-based project financings.
We also advise on:
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Export credit agency financings
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Limited-recourse project financings
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Multi-source lending arrangements
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Privatization and related transactions
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Multilateral and bilateral financings
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Construction and term debt facilities
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Equity and debt syndications
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Islamic financings
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Public-Private Partnerships/Public Finance Initiatives
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Asset-backed financings
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Partnerships and other limited liability entities
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Project bonds and private placements
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Public and private securities issuances
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Commercial bank financings
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Our EIPF lawyers draw upon experience counseling clients in all major industries to address even the most complex matters. In particular, we regularly provide legal advice on:
- Energy and power projects (including nuclear energy and all forms of renewable energy projects), electric transmission and transmission projects, wholesale market transactions, and regulatory and transactional energy law
- Oil and gas (including liquefied natural gas and petrochemicals)
- Telecommunications, including wireless and landline
- Construction and engineering
- Transportation (including airport, road, rail and shipping projects)
- Mining and metals (including industrial process plants and smelters)
- Water, wastewater and sewage
Our track record speaks for itself. Representative examples of recent work include:
Norbe VIII and Norbe IX – Triple Award-Winning Oil and Gas Drillship Project
We represented Banco Santander, BNP Paribas and Société Générale as lead arrangers in the financing of the US$1.7 billion Odebrecht Norbe VIII and Norbe IX offshore oil drillships. Both drillships will be capable of drilling at water depths of up to 3,000 meters and are being constructed in Okpo Koje Island, South Korea by Daewoo Shipbuilding & Marine Engineering Co., Ltd., the obligations of which are secured by The Export-Import Bank of Korea performance guarantees. Upon completion, the drillships will be chartered under long-term charter contracts to Petróleo Brasileiro S.A. — Petrobras. The transaction involved two export credit agencies and 14 lenders, and parties and legal issues in Brazil, Cayman Islands, South Korea, the US and Europe. This deal was selected as "2009 Latin American Upstream Oil & Gas Deal of the Year" by Project Finance magazine, as "2009 Americas Deal of the Year" by Project Finance International magazine and as "2010 Best Project Finance Deal" by LatinFinance magazine.
Sakhalin (Phase 2) LNG Project – Financing of World's Largest Oil and Gas Project
We represented Japan Bank for International Cooperation (JBIC) and the commercial lenders as common lenders' counsel on the phase 2 financing of the US$20 billion Sakhalin 2 liquefied natural gas (LNG) project in the Russian Far East. The project is the world's largest oil and gas project to have limited recourse project financing and Russia's largest-ever foreign investment and project financing. The financing consisted of a JBIC loan tranche and a tranche of uncovered commercial bank debt led by six mandated lead arrangers. Our ability to leverage lawyers from various White & Case offices to complement our London team to advise the lenders on this colossal project gives a good indication of the strength and depth of the global resources of our EIPF group.
Lost Creek Wind Farm in Missouri – US Stimulus Plan Funding
We represented BayernLB, Nord/LB, UBOC, Rabobank and Banco Santander in connection with the US$352 million project financing of the 150 megawatt (MW) Lost Creek wind farm in DeKalb County, Missouri. The innovative portion of the capital structure involved a bridge loan from the banks that will be repaid at project completion from the proceeds of a Section 1603 grant made available under the US Stimulus Plan. The project will consist of 100 General Electric 1.5 MW wind turbine generators. The sponsor is Wind Capital Partners, a wind development company backed by some of the former founders of the Airtricity Group.
EASSy Undersea Cable Project – Telecom Interconnectivity for 21 African States
We represented five development financial institutions – International Finance Corporation, European Investment Bank, KfW, Agence Française de Développement and African Development Bank – in connection with financing for the EASSy undersea cable project, a landmark fiber-optic cable project that is to connect 21 African countries to each other and the rest of the world with high-quality Internet and international communications services. Alcatel-Lucent is constructing the US$260 million project for a consortium of 25 telecommunications operators in Africa.
Major Financing for Development of 1.9GW Power Portfolio in Turkey
We represented Enerjisa Elektrik Üretim A.Ş. (a subsidiary of Sabanci Holdings and Verbund) in connection with the €2 billion development and financing of a portfolio of power projects under development, including a 1,000 MW gas-fired power project and 10 hydro projects in Turkey on a merchant basis. This deal was named "European Power Portfolio Deal of the Year 2008" by Euromoney's Project Finance magazine.
LBJ Freeway Managed Lanes Project in Texas – Usage of Private Activity Bonds
We represented LBJ Infrastructure Group LLC (a consortium consisting of Cintra Infraestructuras, S.A., Meridiam Infrastructure Finance S.à.r.l., and the Dallas Police and Fire Pension System) in connection with a US$615 million offering by a conduit issuer of tax-exempt private activity bonds and the closing of a US$850 million Transportation Infrastructure Finance and Innovation Act loan from the US Department of Transportation. The funds will be used to finance 17 miles of improvements for the LBJ Freeway (IH-635) Managed Lanes Project, a public-private partnership project in the Dallas/Fort Worth area region.
Qatargas 4 – Latest Project in Pioneering Series
We represented the project sponsors, Qatar Petroleum and Shell, on the arranging and financing of the US$6 billion Qatargas 4 project which involves the integrated development of upstream gas production facilities, one large LNG train, yielding about 7.8 million tons per annum of LNG for a period of 25 years, and shipping of the LNG to the intended markets in North America and Europe. Qatargas 4 is the latest project in the US$21.3 billion Qatargas series, the largest-ever energy project financing, and White & Case has advised on every one of the financings. The ground-breaking Qatargas series is arguably the most innovative set of major project financing transactions in recent years, representing the first time sponsors have financed the whole LNG chain from the upstream development of the gas field through LNG shipment to delivery of gas into a transmission system. Qatargas 4 won Project Finance magazine's "2007 Middle East Oil & Gas Deal of the Year" award.
EMAL – US$4.6 Billion Financing for World's Largest Aluminium Smelter
We represented the lead arrangers on the US$4.67 billion financing for the construction of the world's largest aluminium smelter by EMAL, to be located in Abu Dhabi. EMAL is a joint venture between Mubadala Development Co., an investment arm of Abu Dhabi's government, and state-owned Dubai Aluminium Co. This project was awarded "Middle East Manufacturing Deal of the Year 2007" by Project Finance magazine and "Industrial Deal of the Year 2007" by Project Finance International.
US$4 Billion Financing for Largest World-Class Refining and Chemicals Complex in China
We represented Saudi Arabian Oil Company (Saudi Aramco) and Saudi Aramco Sino Company Limited (SASCO), a subsidiary of Aramco Overseas Company B.V. (AOC), in connection with the approximately US$4 billion funding to Fujian Refining Petrochemical Company Limited, a joint venture company owned by Fujian Petrochemical Company Limited (FPCL) (50 percent), Saudi Aramco Sino Company Limited (25 percent) and ExxonMobil China Petroleum and Petrochemical Company Limited (25 percent). The financing will be used to expand the existing refinery in Quanzhou, Fujian Province, China and also involves construction of a new 800,000 tons-per-year ethylene steam cracker, an 800,000 tons-per-year polyethylene unit, a 400,000 tons-per-year polypropylene unit and a new 700,000 ton-per-year paraxylene unit. The project will be the largest world-class integrated refining and chemicals complex in China and represents the largest-ever project financing for a Sino-foreign joint venture in China.
Texas Gulf Wind Project – Stapled Financing
We represented the foreclosing construction lenders in connection with the financial restructuring and sale in lieu of foreclosure of the Texas Gulf Wind project, a 283 MW wind farm, to a subsidiary of Pattern Renewables L.P. The sale of the project included a stapled financing.
Global Reach, Local Presence
Our EIPF group's global network of lawyers provides unparalleled insight into local markets and cross-border deals to give our clients a competitive advantage, helping them benefit from knowing what only insiders typically know about business customs and conditions in local markets, including labor practices, the prevailing regulatory climate, and how a project's influential stakeholders perceive its political and economic value.
EIPF lawyers in the White & Case network reside in:
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Abu Dhabi
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Almaty
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Ankara
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Beijing
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Berlin
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Bratislava
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Brussels
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Bucharest
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Budapest
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Düsseldorf
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Frankfurt |
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Hamburg
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Hong Kong
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Istanbul
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Johannesburg
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London
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Los Angeles
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Mexico City
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Miami
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Moscow
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New York
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Paris |
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Prague
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Riyadh
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São Paulo
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Singapore
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Tokyo
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Warsaw
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Washington, DC |
A Recognized Leader
The industry press consistently recognizes our EIPF group as a market leader. In 2009, White & Case ranked second among all law firms in terms of the dollar value (US$20 billion) of closed global project finance transactions, according to Infrastructure Journal. In addition, more than 42 of our EIPF deals from 2007 to 2010 were named "deals of the year" by the industry press.
Recent accolades include:
- Band 1 Ranking for Projects – Chambers Global 2010
- Band 1 Ranking for Projects: Power (National) – Chambers USA 2010
- Band 1 Ranking for Projects: PPP (National) – Chambers USA 2010
- Band 1 Ranking for Projects & Energy: Energy Projects (London) – Chambers UK 2010
- Band 1 Ranking for Projects (Latin America) – Chambers Latin America 2010
- Band 1 Ranking for Projects & Energy: Mining & Minerals – Chambers Global 2010
- Band 1 Ranking for Projects & Energy (Middle East) – Chambers Global 2009
- Band 1 Ranking for Projects & Energy (Africa) – Chambers Global 2009
- Band 1 Ranking for Energy & Natural Resources (Russia) – Chambers Global 2010
- Band 1 Ranking for Projects (Central & Eastern Europe) – Chambers Global 2010
- Band 1 Ranking for Project Finance/PPP (South Africa) – Chambers Global 2010
- Project Finance Team of the Year 2008 – Who's Who Legal
- Tier 1 Ranking for US Project Finance – IFLR 1000 (2010)
- Tier 1 Ranking in Project Finance: Advice to Lenders – Legal 500 – United States (2010)
- Tier 1 Ranking in Project Finance: Advice to Sponsors – Legal 500 – United States (2010)
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