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
- Hong Kong
- Mexico City
- New York
- São Paulo
- Washington, DC
Legal directories and the industry press consistently recognize our Global Project Finance Practice as a market leader. Our Project Finance deals have won 95 "deal of the year" awards from the industry press from 2010 to 2014.
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 Lenders—Legal 500-United States, 2013
- 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
- "2013 Best Infrastructure Law Firm"—LatinFinance
- "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
Sadara Chemical Company in Saudi Arabia—Largest-Ever Project Financing in the Chemicals Sector
Representation of Saudi Arabian Oil Company (Saudi Aramco) on the US$12.5 billion project financing for Sadara Chemical Company, Saudi Aramco's joint venture with The Dow Chemical Company, to build and operate a US$20 billion world-scale integrated chemicals complex in Jubail Industrial City, Saudi Arabia. White & Case represented Saudi Aramco in a US$2 billion sukuk issuance by Sadara Basic Services Company on behalf of Sadara, followed by a US$10.5 billion financing package with loans provided by a combination of the Public Investment Fund of the Kingdom of Saudi Arabia, seven export credit agencies (ECAs) and a diverse range of commercial banks and Islamic financial institutions (participating in both wakala and procurement funding structures). The seven ECAs were COFACE (of France), Euler Hermes (of Germany), FIEM (of Spain), The Export-Import Bank of Korea, Korea Trade Insurance Corporation, UK Export Finance, and the Export-Import Bank of the United States (which provided an approximately US$5 billion loan, its largest loan ever). The complex will be one of the largest integrated chemicals complexes in the world and the largest ever built in a single phase. The multi-sourced Sadara transaction is the largest-ever project financing in the chemicals sector and was selected as "2013 Global Finance Deal of the Year: Project Finance (Middle East)" by The American Lawyer, as "2013 Global Deal of the Year," "2013 Overall Middle Eastern Deal of the Year" and "2013 Middle Eastern Petrochemicals Deal of the Year" by Project Finance magazine, as "2013 Project Finance Deal of the Year (Middle East)" by International Financial Law Review and as "2013 Middle East Petrochemical Deal of the Year" by Project Finance International magazine.
Emirates Aluminium Smelter Project in the United Arab Emirates—One of the Largest Single Site Aluminium Smelters in the World
Representation of the lenders on the Phase II expansion of the landmark US$10.2 billion Emirates Aluminium (EMAL) smelter project in Abu Dhabi, the United Arab Emirates. Upon completion of Phase II, the project will be one of the largest single site aluminium smelters in the world, and will include the world’s largest single potline at 1.7 kilometers and annual production capacity of approximately 1.3 million tons. White & Case advised the commercial banks in connection with conventional and Islamic tranches totaling US$3.4 billion, as well as four export credit agencies (US Ex-Im Bank, Hermes, Coface and Kexim) with respect to direct and ECA supported tranches totaling US$600 million. This transaction was selected as "2012 Gulf Cooperation Council Industrial Project of the Year" by MEED Quality Awards for Projects, as "2013 Middle East Industrial Deal of the Year" by Project Finance International magazine and as "2013 Middle Eastern Mining & Metals Deal of the Year" by Project Finance magazine.
Butendiek Offshore Wind Farm Near Germany
Representation of wpd group on the financing of the Butendiek offshore wind farm near Germany. The overall investment was approximately €1.3 billion. The wind farm is situated in the German North Sea, approximately 30 kilometers west of the island of Sylt, and has 80 Siemens turbines providing a total capacity of 288 megawatts (MW). This transaction was selected as "2013 European Power Deal of the Year" by Project Finance International magazine and as "2013 European Offshore Wind Deal of the Year" by Project Finance magazine.
Eskom Department of Energy Peaker Power Projects
Representation of Eskom Holdings, the South African national electricity company, in connection with two independent power projects for new peaking capacity (totaling 1,005 MWs), valued at US$1.2 billion. This Department of Energy project involves two open-cycle gas turbine plants: the 670 MW Avon facility in KwaZulu-Natal (north of Durban) and the 335 MW Dedisa plant in the Coega Industrial Development Zone in the Eastern Cape. This transaction was selected as "2013 African Power Deal of the Year" by Project Finance magazine.
Chaglla Hydroelectric Power Project in Peru
Representation of Empresa de Generación Huallaga S.A. as borrower and Odebrecht Energia S.A. as sponsor in the development, construction and project financing of the US$1.2 billion, 406 MW Chaglla hydroelectric power generation project in Peru. This transaction was selected as "2013 Americas Renewable Deal of the Year" by Project Finance International magazine.
Indorama Eleme—The Largest Fertilizer Plant in Africa
Representation of the lenders on US$1.2 billion financing of Indorama's nitrogenous fertilizer complex in Rivers State, Nigeria, the largest fertilizer plant in Africa. Upon completion in 2015, it will be the one of the largest fertilizer plants in the world. This transaction was selected as "2013 African Petrochemical Deal of the Year" by Project Finance International magazine and as "2013 African Petrochemicals Deal of the Year" by Project Finance magazine.
Odebrecht Offshore Drilling Finance Limited Project Bond Offering
Representation of the initial purchasers and the co-managers in a Rule 144A/Regulation S offering of US$1.7 billion of notes by Odebrecht Offshore Drilling Finance Limited, a Cayman Islands subsidiary of Odebrecht Óleo e Gás S.A. (OOG), the oil and gas division of the Odebrecht Group. According to Latin Lawyer, this transaction was the largest ever project bond offering in Latin America. This transaction was selected as "2013 Latin America Oil & Gas Deal of the Year" by Project Finance International magazine.
SAAOne A1/A6 Motorway Project in the Netherlands
Representation of SAAOne, a consortium comprising Hochtief PPP Solutions GmbH, VolkerInfra PPP B.V., Boskalis B.V. and Dutch infrastructure fund DIF Infra 3 Finance B.V., on the financing of the €1 billion A1/A6 Diemen-Muiderberg-Almere Havendreef motorway public-private partnership project in the Netherlands. This transaction was selected as "2013 EMEA Road Deal of the Year" by Project Finance International magazine.
Shuweihat S2 Refinancing—The First Project Bond Offering by an Independent Water and Power Producer Project (IWPP) in the Middle East
Representation of Ruwais Power Company PJSC and its sponsors – shareholders Abu Dhabi National Energy Company PJSC, Abu Dhabi Water and Electricity Authority, International Power S.A., Marubeni Corporation and Osaka Gas Co., Ltd. – on the inaugural issuance of US$825 million of bonds and the related refinancing of the Shuweihat 2 IWPP in Jebel Dhana, United Arab Emirates. The project bond was used to partially refinance existing facilities with commercial lenders and Japan Bank for International Cooperation. This transaction was the first project bond offering by an IWPP in the Middle East and was selected as "2013 Middle East Bond Deal of the Year" by Project Finance International magazine and as "2013 Middle Eastern Project Bond Deal of the Year" by Project Finance magazine.
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. In its "US Innovative Lawyers 2013" report, the Financial Times gave the Etileno XXI transaction a "Commended" award in the "Latin America – Finance" category.
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.
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 and as "2013 Best Mining Financing" by LatinFinance magazine and as "2013 Best Mining Financing" by LatinFinance magazine Infrastructure Finance Awards.