Kamran Ahmad

Partner, London


‘Kamran Ahmad is an outstanding lawyer. He is always available, gives efficient and practical advice of excellent quality and is an adviser who goes the extra mile to protect your interests.’
Legal 500 UK, Projects, Energy and Natural Resources – Infrastructure: Project Finance and Development, 2024


Kamran is a partner in the Energy, Infrastructure and Project Finance Group in London.

Kamran has extensive experience acting for the full spectrum of market participants, including banks, multi-laterals, investors, sponsors and project companies, on greenfield and brownfield transactions covering a wide range of infrastructure sectors and financing techniques including bank debt, project bonds and multi-source financings. Kamran also regularly advises on the development and financing of projects in the energy sector including conventional and renewable power, as well as, commodities based financings (including reserve based lending).

Bars and Courts
England and Wales
BPP Law School, London
London School of Economics



Mining & Metals

Reqo Diq Project
Representation of the Federal Government of Pakistan, the Provincial Government of Balochistan, Government Holdings (Private) Limited (GHPL), Oil & Gas Development Company (OGDCL) and Pakistan Petroleum Limited (PPL) on the reconstitution of the Reko Diq project and the comprehensive resolution of a US$11 billion dispute.

Konkola Copper Mines
Acting for the provisional liquidator of Konkola Copper Mines ("KCM") in the ongoing efforts to restore KCM to steady-state operations. Our engagement includes a complete overhaul of the trading and related financing arrangements of KCM. We structured and oversaw a competitive tender process including miners and commodity traders for all of KCM's concentrate supplies, and copper cathode and anode offtakes, and the associated offtake-linked financing arrangements.

Sirius Minerals
Representation of the pathfinder project finance lenders to Sirius Minerals Plc's proposed Phase 2 financing of the North Yorkshire Polyhalite Project. The financing structure for the project included a large royalty financing and was the source of complex intercreditor issues.

Nimba Iron Ore Project
Representation of HPX in its project development and financing activities for the Nimba Iron Ore Project, including multi-sourced financing, intercreditor arrangements, government negotiations for the transnational Guinea-Liberia multi-user evacuation corridor.

Representation of SolGold on the development and royalty financing of a major greenfield copper-gold project in Ecuador, including a recently closed US$150 million net smelter returns agreement with Franco Nevada. We led the intercreditor structuring and negotiation.

Tri-K gold project
Representation of the lenders on the project financing of the Tri-K gold project in Guinea.

Nevada Copper
Representation of a working capital facility provider in connection with an innovative and award winning project finance structure for Nevada Copper Corp. The capital structure contemplated a KfW direct lending facility, a stream financing, a cost overrun facility and a working capital facility.

Infrastructure and Energy

Pedemontana Project Bond
Representation of J.P. Morgan as Global Co-ordinator, and the arrangers in connection with the landmark greenfield Pedemontana road project bond. The transaction comprised the issuance of €1.221 billion variable rate senior secured amortizing notes and €350 million step-up subordinated secured notes.

Brebemi Toll Road Bank / Bond Refinancing
Representation of Brebemi, project company of the Italian toll road which runs from Brescia to Milan, on its €2 billion combined bank and bond refinancing arranged by JP Morgan, Banca IMI and others. The refinancing consisted of four series of senior project bonds, a junior bond issuance and approximately €307 million in senior credit facilities.

Alpha Trains Multi-Debt Platform
Representation of Alpha Trains on an investment grade €1.125 billion common terms multi-debt financing platform, comprising the issuance of €350 million bonds listed on the Luxembourg Stock Exchange (the first investment grade continental European rolling stock bond issue), the raising of €525 million secured bank financing and a €250 million senior private placement offering as well as a €125 million junior private placement offering.

A7 Project Bond
Representation of the joint lead arrangers, lenders and institutional investors on the financing of the extension and operation of the A7 federal highway between Hamburg and Bordesholm. The largest PPP project ever launched in Germany, with construction costs of approximately €600 million, it was awarded by the federal state to the consortium of Hochtief, institutional investor Dutch Infrastructure Fund and Kemna. This was the first PPP project in the German market to be financed by project bonds with EIB project bond credit enhancement and a bank facility. It was also the first bank–bond financing using EIB's project bond credit enhancement.

Solör Bioenergi senior and holdco refinancing
Representation of Solör Bioenergi Holding AB, a Swedish biomass generation and heat distribution business in relation to a senior secured bank financing with a bank syndicate comprising European and Nordic banks as well as an agreement for a structurally subordinated holdco financing provided by an Australian infrastructure fund.

Gebze CCGT Power Project
Representation of the senior lenders in connection with the financing and subsequent refinancing (including a holdco loan) to the Gezbe CCGT power project in Türkiye.

Bizkaia Energia
Representation of Edmond de Rothschild (UK) Limited and Sequoia Investment Management as lenders on an innovative holdco financing for Bizkaia Energia's project financed 800MW Independent Power Plant located in Northern Spain.

Eleclink Interconnector Project
Representation of Eleclink, the project company in connection with the proposed 1000 MW DC power interconnector between the UK and France, which will run through the Channel Tunnel.

Nacala Project
Representation of Vale regarding the financing of the Nacala Project. The Nacala project includes the construction of a new 201 km long rail line to connect Moatize mine in Tete to the existing railway line in Malawi at Nkaya Junction, the rehabilitation of the existing line in the Malawi rail network and in Mozambique between Nkaya and Monapo, for an approximate length of 682 km, the construction of a new 29 km branch line, which will connect the existing railway line and the port and the construction of a new coal port terminal in Nacala-à-Velha.

Reserve Based Lending
Representation of lenders and borrowers in connection with reserve based financing transactions (including restructurings of the same) in a number of emerging market jurisdictions including Egypt, Nigeria and Pakistan.

Awards and Recognition

Legal 500 UK, Projects, Energy and Natural Resources – Infrastructure: Project Finance and Development – Next Generation Partner, 2024