Ned Neaher's practice focuses on Project Finance, including public-private partnerships (PPPs). He is acknowledged as "a projects expert with a broad range of experience spanning a number of industries" (Chambers USA 2012). He has worked on many innovative financings and, together with his team, has won numerous Deal of the Year awards in recognition of his outstanding achievements for his clients.
Ned has broad international experience. He was based in the Firm's Hong Kong and London offices before moving to Washington, DC, and has clients and contacts worldwide. He has worked on projects in Asia, the Middle East, Eastern Europe, Latin America and the US.
Particular areas of strength for Ned are large-scale projects involving multiple lenders as clients, and project bond financings. His project bond work began in the 1990s in the power sector in Asia, and he has since been involved in project bond financings of toll roads in Chile and the United States, and of toll road and wind farms in Mexico.
Ned's skill in handling both the project-document and financing-document work streams of project financings results in an efficient process for clients. He is also well-versed in market precedent for risk allocation, and is, as one client notes, "…knowledgeable and very focused on finding pragmatic solutions to problems. Borrowers and lenders like working with him." (Best Lawyers 2015)
European Investment Bank (EIB), Overseas Private Investment Corporation and Bank Leumi – Negev Energy CSP thermal solar project, 2015
Ned is representing the lenders on the US$1.1 billion Negev Energy concentrating thermal solar power project financing in Israel. The project sponsors are Abengoa and Shikun & Binui, and the project is one of two CSPs being developed, based on concessions awarded by the Israeli government.
US Department of Energy – Cape Wind offshore wind farm, 2011–2014
Ned represented the US Department of Energy (DOE) in connection with a proposed loan guarantee for the Cape Wind project. Slated to be the first offshore wind farm in the United States, the project is currently in abeyance. Ned previously represented the DOE in connection with a US$150 million loan guarantee for 1366 Technologies, Inc., a company that develops and manufactures multicrystalline wafers for use in solar cells.
Citigroup and Jeffries – I-69 PABs offering, 2014
Ned represented the underwriters, Citigroup and Jeffries, in connection with the private activity bond offering for the I-69, Section 5 public-private partnership awarded by the State of Indiana to Isolux of Spain.
Export Development Canada (EDC) – Hispasat Satellite financings, 2014–2015
He represented EDC in connection with its direct loan to Hispasat S.A. to fund the construction of the 1F and Amazonas 5 commercial satellites.
Export-Import Bank of the United States (US Ex-Im) – satellite financings, 2013–2015
He represented US Ex-Im on its direct loans to ViaSat Technologies Ltd., a subsidiary of ViaSat, Inc., and Space-Communications Ltd., an Israeli satellite company, to finance a portion of the costs of construction, launch and insurance for the ViaSat-2 and AMOS-6 commercial satellites. These are two of a series of satellite financings Ned has been involved in for US Ex-Im, several of which are ongoing.
Overseas Private Investment Corporation (OPIC ) – Banco Itaú financing, 2014
Ned represented OPIC in connection with its US$400 million financing for Banco Itaú in Brazil.
International Finance Corporation (IFC), 2013
He represented IFC in connection with a loan to Telecom Development Company Afghanistan Limited (Roshan) to finance the licensing and roll-out of a 3G mobile communications network in Afghanistan and to partially refinance Roshan's existing debt.
Lenders on Emirates Aluminium smelter project, 2013
Ned represented 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. 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.
OPIC – DPR Offerings, 2013 and 2012
Ned advised OPIC in connection with its investments in two diversified payment rights offerings: the US$400 million investment in notes issued by a special purpose vehicle under Garanti Bank's DPR program, and its US$250 million investment in notes issued by a special purpose vehicle under Banco Industrial's DPR program. Both of these transactions were funded by OPIC's issuance of certificates of participation under OPIC's customary funding arrangements.
BBVA, BNP Paribas, Crédit Agricole Securities, Banco Santander and Société Générale – Oaxaca II and IV project bonds, 2012
Ned represented the clients as initial purchasers of the project bonds. Located near Oaxaca, Mexico, the Oaxaca Dos and Oaxaca Cuatro projects each generate 102 megawatts (MWs) of power. These were the first two project bond offerings for wind farm projects in Mexico. This transaction was selected as 2012 Latin American Project Bond Deal of the Year by Project Finance magazine and as 2013 Best Renewable Energy Financing by LatinFinance magazine's Infrastructure Finance Awards.
"Structuring Concessions", August 7, 2014: International Law Institute, Washington, DC
Sources of Available Project Financing: Project Bonds, PLC, 2014
Project Finance, Chambers Global, 2014
Projects, Infrastructure , Chambers USA, 2014
Projects , Chambers Latin America, 2014
Euromoney's Guide to the World's Leading Project Finance Lawyers
Project Finance, IFLR 1000, 2014
The International Who's Who of Project Finance Lawyers, 2014
The Best Lawyers in America, 2014