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White & Case is one of the leading global law firms for project finance transactions. With more than 200 dedicated project finance lawyers located in offices around the globe, our Global Project Finance Practice offers market-leading experience advising on legal matters related to project structuring and development, financing, government regulation, construction and other contract issues across every sector, including:
- Power generation and transmission (including nuclear energy and all forms of renewable energy)
- Oil and gas (including liquefied natural gas (LNG) and petrochemicals)
- Infrastructure (including roads, airports, bridges, railways and ports)
- Mining and metals
- Water and wastewater treatment
- Telecommunications (including wireless, landline and satellites)
We represent clients including sponsors, commercial banks and governmental lenders, as well as multilateral and bilateral agencies, on every type of transaction from complex international co-financings to capital markets-based project financings to Islamic financings. Our lawyers have unrivaled insight into local business customs, labor practices and laws in multiple jurisdictions, enabling us to provide local depth to match our global breadth.
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.
Significant Global Footprint Due to the deep experience of our project finance lawyers from around the world, we can provide New York, English, Islamic and local law advice and unparalleled insight into local markets to give our clients a competitive advantage, allowing them to benefit from knowing what only insiders typically know about business customs and conditions in local markets. Our project finance lawyers are located in:
- Abu Dhabi
- Almaty
- Ankara
- Beijing
- Bucharest
- Doha
- Düsseldorf
- Hong Kong
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- Johannesburg
- London
- Mexico City
- Miami
- Moscow
- New York
- Paris
- Prague
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- Riyadh
- São Paulo
- Singapore
- Tokyo
- Warsaw
- Washington, DC
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Independent View Legal directories and the industry press consistently recognize our Global Project Finance Practice as a market leader. Our Project Finance deals have won more than 87 "deal of the year" awards from the industry press from 2009 to 2013.
Recent accolades include:
- Law Firm of the Year: Projects & Energy—Chambers Global Awards, 2013
- Band 1 Ranking for Projects & Energy (Global-wide)—Chambers Global, 2013
- Band 1 Ranking for Projects & Energy (Europe-wide)—Chambers Global, 2013
- Band 1 Ranking for Projects & Energy (Africa-wide)—Chambers Global, 2013
- Band 1 Ranking for Projects & Infrastructure (China)—Chambers Global, 2013
- Band 1 Ranking for Projects & Energy (Central & Eastern Europe)—Chambers Global, 2013
- Band 1 Ranking for Projects (Latin America-wide)—Chambers Global, 2013
- Band 1 Ranking for Projects (Mexico)—Chambers Global, 2013
- Band 1 Ranking for Projects (United Kingdom)—Chambers Global, 2013
- Band 1 Ranking for Projects & Energy (Qatar)—Chambers Global, 2013
- Band 1 Ranking for Projects & Energy: Mining & Minerals (Africa-wide)—Cambers Global, 2012
- Tier 1 Ranking in Projects, Energy & Natural Resources: Mining & Minerals—Legal 500-United Kingdom, 2011
- Tier 1 Ranking in Projects, Energy & Natural Resources: Oil & Gas—Legal 500-United Kingdom, 2011
- Tier 1 Ranking in Project Finance: Advice to Sponsors—Legal 500-United States, 2012
- Tier 1 Ranking in Project Finance: Advice to Lenders—Legal 500-United States, 2012
- Tier 1 Ranking for National: Project Finance Law—U.S. News–Best Lawyers, 2013
- Tier 1 Ranking for National: Energy Law—U.S. News–Best Lawyers, 2013
- "2012 Road Finance Law Firm of the Year"—Global Transport Finance
- "2012 Port Finance Law Firm of the Year"—Global Transport Finance
- "2011 Global Legal Adviser of the Year"—Infrastructure Journal
- "2011 Power Sector Legal Adviser of the Year"—Infrastructure Journal
- "2012 Americas Project Finance Team of the Year"—International Financial Law Review
- "2011 European Project Finance Team of the Year"—International Financial Law Review
- "2011 Americas Project Finance Team of the Year"—International Financial Law Review
Unparalleled Experience
Etileno XXI Petrochemicals Project in Mexico—Largest Project Finance Deal Closed in Latin America in 2012 Representation of Braskem Idesa SAPI in securing US$3.2 billion in financing for the Etileno XXI project, a US$4.5 billion integrated petrochemicals project located in Veracruz, Mexico. Seven governmental agencies and 10 commercial banks from around the world participated in the financing of the complex. It is the largest private sector investment in a single project in the history of Mexico, and the largest project financing ever in the petrochemical industry in the Americas. Braskem Idesa SAPI is a joint venture formed by Braskem and Grupo Idesa. This deal was selected as "2012 Overall Latin American Deal of the Year" and "2012 Latin American Petrochemicals Deal of the Year" by Project Finance magazine, as "2012 Americas Petrochemical Deal of the Year" by Project Finance International magazine, as "2012 Project Finance Deal of the Year" by Latin Lawyer magazine, and as one of the "2012 Deals of the Year" by Trade Finance magazine.
Madinah Airport Project in Saudi Arabia—First Public-Private Partnership for an Airport in the Gulf Cooperation Council Region Representation of International Finance Corporation and the General Authority of Civil Aviation as grantor on the US$1.2 billion financing of the Madinah Airport Project in Saudi Arabia. This project involves the expansion and renovation of Prince Mohammad Bin Adbulaziz International Airport that will increase its capacity from around 3.5 million passengers per year to 8 million per year by 2015. This deal was selected as "2012 Middle East and Africa Infrastructure Deal of the Year" by Project Finance International magazine and "2012 Middle Eastern Transport Deal of the Year" by Project Finance magazine.
Northwind—Offshore Wind Project in Belgium Representation of the lenders in connection with the €890 million financing of Northwind Offshore Energy's wind project in Belgium's North Sea. The financing for the 216 MW offshore wind farm will cover the design, construction, operation and maintenance of between 36 and 72 wind turbines. This deal was selected as "2012 Europe Renewables Deal of the Year" by Project Finance International magazine and "2012 European Offshore Wind Deal of the Year" by Project Finance magazine.
Panda Temple Power Project Representation of Morgan Stanley as joint lead arranger in connection with the financing of the 758 MW natural gas-fired, combined-cycle Panda Temple power project being developed in Temple, Texas. This project was selected as the "2012 Americas Power Deal of the Year" by Project Finance International magazine, and was also selected (along with the Panda Sherman project) as "2012 North American Merchant Power Deal of the Year" by Project Finance magazine.
Municipal Water Distribution Infrastructure Development Project in China Representation of the Asian Development Bank in connection with its loan to a subsidiary of a water project company to invest in multiple project companies for the rehabilitation, expansion and operation of water treatment and distribution facilities throughout China. This project was selected as the "2012 Infrastructure and Energy Deal of the Year" by China Business Law Journal and received the "Development Impact Honors" award from the U.S. Department of the Treasury.
Tufanbeyli Power Project in Turkey—Biggest Lignite Power Plant Investment in the Private Sector in Turkey Representation of Enerjisa (a subsidiary of Sabanci Holdings and Verbund) in connection with the €1 billion development, construction and financing of the 450 MW Tufanbeyli Thermal Power Plant in Adana, Turkey. This deal was selected as "2012 Turkish Power Deal of the Year" by Project Finance International magazine and one of the "2012 Deals of the Year" by Trade Finance magazine.
Henry Konan Bedie Toll Bridge in Ivory Coast Representation of a group of lenders on the US$326 million financing, design, construction and operation of a toll bridge in Abidjan, Ivory Coast, by a subsidiary of Bouygues (Socoprim), under a concession scheme. The lenders included the African Development Bank (AfDB), FMO, West African Development Bank, EBID (ECOWAS Bank for Investment and Development), BMCE Bank of Foreign Trade, the Pan African Infrastructure Development Fund (PAIDF), and the African Finance Corporation (AFC). The Multilateral Investment Guarantee Agency (MIGA) provided insurance coverage to private shareholders and some of the lenders. This transaction was selected as "2012 Africa Transport Deal of the Year" by Project Finance magazine.
Largo Resources Mining in Brazil Representation of Banco Itaú BBA, Banco Bradesco and Banco Votorantim in connection with a US$169 million loan facility provided to Largo Resources Ltd. for the financing of a vanadium production mine (Vanádio de Maracás) located in Brazil. This transaction was selected as "2012 Latin American Mining & Metals Deal of the Year" by Project Finance magazine.
Barzan Gas Project—Largest Single Financing Project Ever Undertaken in Qatar Representation of Qatar Petroleum and Exxon Mobil as sponsors on the successful closing of its US$10.3 billion Barzan Gas Project in Ras Laffan Industrial City, the largest single financing project ever undertaken in Qatar. The financing required an international financing model that skillfully blended multi-sourced financing (including the Export-Import Bank of Korea) in a tumultuous economic environment. The project will play a vital role in fueling Qatar's continued economic development. This deal was selected as "2011 Middle East and Africa Oil & Gas Deal of the Year" by Project Finance International magazine, as one of the "Best Deals of 2011" by Global Trade Review magazine, and as "2011 Middle East Oil & Gas Deal of the Year" and "2011 Global Deal of the Year" by Project Finance magazine.
Gebze Power Plant in Turkey—Triple Award-Winning Power Project Representation of the Turkish lead arrangers in connection with a US$700 million term loan facility and an US$80 million letter of guarantee facility to project finance the development and operation of an 865 MW gas-fired, combined-cycle power plant within the Kocaeli-Gebze VI IMES OIZ industrial zone in Gebze, Turkey. Total project costs were estimated to be US$1 billion. This deal was selected as "2011 Turkish Deal of the Year" by Project Finance International magazine, as "2011 European Power Deal of the Year" by Project Finance magazine, and as "2011 Power Deal of the Year" by Infrastructure Journal.
Embraport—Relieving Congestion at Brazil's Largest Port Representation of Caixa Econômica Federal as a senior lender in its provision of a US$335 million loan to Embraport Empresa Brasileira de Terminais Portuários S.A. for the construction and operation of a greenfield mixed-use port terminal to be located in the Port of Santos, Brazil. The total project cost is US$1.1 billion. This deal was selected as "2011 Americas Transport Deal of the Year" by Project Finance International magazine, as "2011 Latin American Transport Deal of the Year" by Project Finance magazine, as "2011 Project Finance Deal of the Year" by Latin Lawyer magazine, and as "2011 Americas Project Finance Deal of the Year" by International Financial Law Review.
Tours to Bordeaux High-Speed Railway—One of Europe's Most Important Infrastructure Investments in the Past 20 Years Representation of the lenders to a consortium that was selected as the winning concessionaire for a €7.8 billion, 50-year concession to build and operate France's Sud Europe-Atlantique (LGV SEA) high-speed railway line. The project, which will connect Tours and Bordeaux through a 303-kilometer high-speed rail link, is the largest project finance deal to be awarded in the French railway sector and is the first contract concluded with a French state guarantee provided under the new French recovery plan. White & Case represented nine commercial banks, the European Investment Bank and the Caisse des dépôts et consignations on the common financial documentation, project contracts and all legal aspects of the project from the preparation of the consortium's bids to financial closing. This deal was selected as "2011 Europe Rail Deal of the Year" by Project Finance International magazine, as "2011 European Rail Deal of the Year" by Project Finance magazine, and as "2011 Transport Deal of the Year" by Infrastructure Journal.
GMR Energy (Singapore)—First Greenfield Independent Power Producer Financing In Singapore Since 2006 Representation of GMR Energy (Singapore) Pte. Ltd. (formerly known as Island Power Company Pte. Ltd.) on the approximately SGD1 billion greenfield financing of an 800 megawatt power project in Singapore. This was the first greenfield independent power producer (IPP) financing in Singapore since 2006 and the power station will be GMR's first IPP project outside India. This transaction was selected as "2011 Asia-Pacific Merchant Power Deal of the Year" by Project Finance magazine.
French Eco-Tax Project—Innovative Public-Private Partnership Project Representation of the lenders on an innovative public-private partnership (PPP) €1.9 billion financing to build and operate an electronic truck tolling system for French roads. The French Eco-tax project will use satellite tracking to charge trucks and other heavy vehicles using non-toll national roads. The project is expected to be fully operational nationally by 2013, following a three-month trial period in France's Alsace region. This deal was selected as "2011 Europe PPP Deal of the Year" by Project Finance International magazine and as "2011 European Transport Technology Deal of the Year" by Project Finance magazine.
One Nevada Transmission Line—First US Department of Energy Loan Guarantee for a Transmission Project Representation of Great Basin Transmission South, LLC in connection with the sale by Great Basin of a 25 percent undivided interest to NV Energy in the One Nevada Transmission Line (ON Line) and the development and financing of Great Basin's 75 percent undivided interest in ON Line pursuant to a US$343 million US Department of Energy (DOE) loan guarantee, which was the first DOE loan guarantee for a transmission project. ON Line is a new 235-mile, 500-kilovolt alternating current transmission line that will carry approximately 600 megawatts of electricity from northern Nevada to an area outside of Las Vegas in southern Nevada. ON Line is the first phase of a larger project called the Southwest Intertie Project (SWIP) that, when completed, will carry 2,000 megawatts of power generated from wind, solar and geothermal sources from remote areas in Idaho, Nevada and Wyoming to users in Las Vegas, California and across the Southwestern US. Great Basin is a special-purpose entity formed by LS Power Associates, a power generation and transmission company.
C-Power—Largest Offshore Wind Financing Representation of the European Investment Bank on its €450 million financing for the design, construction and operation of the second and third phases of a 325 MW offshore wind farm being developed by C-Power N.V. in the North Sea, 30 kilometers off the coast of Belgium, with a total project cost of approximately €1 billion. The C-Power financing represents a number of firsts: it is one of the largest financings to be closed in the offshore energy sector (comprising a total debt package of €1 billion); it is one of the first transactions where banks have financed the installation and operation of new generation 6 MW offshore wind turbines; and it has one of the longest tenures of any financing concluded in the offshore wind sector to date. This deal was selected as "2010 European Offshore Wind Deal of the Year" by Project Finance magazine, as "2010 Europe Renewables Deal of the Year" by Project Finance International magazine, and as "2010 Renewables Deal of the Year" by Infrastructure Journal.
Nord Stream Pipeline Project—Gas Pipeline Project Spanning 5 Countries Representation of the joint venture project company, Nord Stream AG, and the sponsors on the construction and €7.4 billion financing of Phase I and €2.5 billion financing of Phase II of the development of two 1,220-kilometer subsea offshore gas pipelines which run from Russia to Germany through the Baltic Sea and the exclusive economic zones of Russia, Finland, Sweden, Denmark and Germany. This deal was selected as "2009 European Gas Deal of the Year" by Project Finance International magazine, as one of the "Best Deals of 2009" by Global Trade Review magazine, as "2010 European Midstream Oil & Gas Deal of the Year" by Project Finance magazine, and as "2010 Oil & Gas Deal of the Year" by Infrastructure Journal. As a result of White & Case's work on this groundbreaking project, our firm was selected as "2011 Infrastructure/Energy Team of the Year" by The Lawyer. Phase II of the Nord Stream project was selected as "2011 Europe Project Finance Deal of the Year" by International Financial Law Review.
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