Project Finance

Overview

Creative, innovative and structured financial solutions are vital to any large-scale project. Ensuring you have legal advice you can trust is key to the management of risk and reward and securing your success. Our lawyers have a proven track record across the project finance lifecycle and can advise on all aspects of your financing needs.

As decarbonisation, sustainability and efficiency, and the transmission and storage of power and data continue to be economic priorities, it is clear that investment in areas such as construction and infrastructure, telecommunications and energy will grow over the short, mid and long term. Acting for both sponsors and funders, we structure finance solutions across numerous sectors. Whether helping clients finance projects in new jurisdictions or brokering international deals covering multiple regions, we offer seamless legal advice built on real knowledge and experience.

We believe clients always benefit from a cross-practice approach. Our project finance lawyers work closely with professionals in other areas such as financial services, M&A and capital markets, and procurement, to seamlessly manage all aspects of transactions and identify and mitigate any potential risks. Our lawyers have been at the forefront of the renewed international focus on projects, public-private partnerships and infrastructure development, and have acted in some of the world’s most significant and complex projects.

Project finance services

Meet our team

In addition to our offices in Canada and the UK, we provide international reach through our offices overseas, and have acted on major project financings in Europe, the Middle East, Africa, Latin America and Asia. Contact us today for more information on how our team can support you with your latest project.

Canada

To take your project from vision to reality, you need a legal adviser with in-depth knowledge of financing techniques, industry-specific experience and a practical, solutions-oriented approach. With a team of skilled project finance lawyers in key regions across Canada, we are well equipped to lay a strong financing foundation for your project - regardless of its size, complexity or location.

As one of Canada's largest infrastructure and construction law firms, our professionals advise clients across the lifecycle of construction and infrastructure projects - from design and procurement to completion and dispute resolution. Our project finance practice includes infrastructure and large project financing, PPP project financing, and large development project credit facilities.

We are a qualified service provider to all six major domestic Canadian banks, as well as several foreign banks, and have widespread relationships with other major financial institutions. Our leading-edge advice on emerging technologies and unique product offerings combined with our deep sector experience ensures we can support all of your project finance needs.

We are also proud to offer our clients access to one of the largest Indigenous law practice groups in Canada, with many project financings performed in this area.

Client work

  • ACCIONA and Aecon

    Counsel to ACCIONA as it reached financial close on the $1.728 billion contract to design and build the Vancouver Broadway Subway project.

  • ACCIONA

    Counsel to the Fraser Crossing Partners consortium as it reached financial close on the $967.5 million contract to design, build and partially finance the Pattullo Bridge DBF project.

  • NAV CANADA

    Counsel to NAV Canada with respect to an issuance of $850 million of general obligation notes in two series on a private placement basis pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws.

Awards and accolades

Our team is repeatedly recognized in the industry by a wide range of awards and directories, including Chambers and Partners, The Legal 500, Best Lawyers, Lexpert and Acritas. The annual Lexpert survey of leading infrastructure firms consistently includes more Gowling WLG lawyers than any other.

In 2020, our firm was co-awarded the OCNI Export Award for our work on the US$35- billion Al-Dabaa nuclear power plant in Egypt. We also received the Chairman's Award in 2020 by the Alberta Construction Association.

Contact our team

Christopher N. Alam
Partner

UAE

Embarking on large and complex energy and infrastructure projects in the UAE can bring challenges as well as opportunities. When it comes to project financing, you need to be sure that you have access to a detailed understanding of the region’s competitive, regulatory and legislative environments, as well as any emerging economic trends.

Drawing on the experience of our cross-practice sector professionals, our international projects team is dedicated to finding solutions that are tailored to your commercial objectives. With a wealth of experience in the Middle East's financial landscape, our lawyers advise across all aspects of project financing. Working with you at every stage, we offer an international perspective and full-service platform to provide industry-leading legal support and risk management.

Client work

  • ARMPOWER

    Advised Renco SpA and Siemens Project Ventures on all aspects of this US$260 million, 240MW CCGT power station which recently reached financial close, including advising them on the multi-sourced project financing involving IFC, MIGA, Asian Development Bank, OPEC Fund for International Development and DEG. This was the first Greenfield project financing and development in Armenia.

  • Far east utility company

    Advising a utility on its bid for a new electricity transmission project in Abu Dhabi, including advising on the multi-sourced project finance aspects of the project which has anticipated project costs of circa US$2 billion.

Awards and accolades

Head of international projects Jonathan Brufal leads on project financing in the UAE. Jonathan is widely recognised in the industry and is ranked by The Legal 500 as a leading individual for Emerging Markets.

The team was also recognised across six categories by the IJ Global Awards 2020 for its work on complex and high profile transactions.

Contact our team

Jonathan Brufal
Partner

UK

The need to invest in the UK's infrastructure is more pressing than ever before. The objective of achieving net zero by 2050 (2045 in Scotland) as well as our growing and ageing population requires increasing development and investment. As urban regeneration is decarbonised and made smart, the ability to manage the interplay between industries such as energy, transport, telecommunications and housing will become vital.

In this changing landscape, our project finance team seamlessly brings together sector professionals and transactional finance and corporate lawyers to provide pragmatic advice built on deep experience and knowledge.

Our project finance lawyers act for a broad range of clients, from project sponsors, investment funds and institutional lenders to construction companies and government and public sector stakeholders at every level. We view projects from every angle and pursue the best-possible approach for the circumstances, taking the time to structure sector-focused bespoke finance solutions tailored to your specific needs.

Client work

They work as a single, joined up team which means we see seamless integration of sector specialists with the lead transactional finance and corporate lawyers. We look forward to continuing this working relationship for years to come.GCP Infrastructure Investments

Every project is different and every business is unique. We have acted on some of the most interesting and innovative projects in recent years, including:

  • Energy efficiency

    Advising the lender on the senior financing of a series of high energy efficiency lighting projects across the UK.

  • Bushveld Minerals

    Advising on a $30 million Production Financing Agreement with Orion Mine Finance and an associated issue of a US$35 million Convertible Loan Note Instrument.

  • Triple Point Energy

    Advising the Triple Point Energy Efficiency Infrastructure Company PLC as senior secured lender on the £20m refinancing of the Glasshouse and Harvest Generation greenhouse CHP project on the Isle of Wight, UK.

  • GuarantCo

    Advising GuarantCo in respect of the listing by Quantum Terminals Group on the LSE. Quantum listed its GHS 45 million corporate bond, guaranteed by GuarantCo, on the LSE's International Securities Market, completing a dual listing of debt security.

Awards and accolades

We are proud to be recognised by The Legal 500 and Chambers and Partners for our experience in the field. Our team is ranked in Tier 1 by The Legal 500 for Energy, Project Finance and PFI in the West Midlands, with individuals recognised across the board in various categories. Our team in London ranks in Tier 2 for Energy and Infrastructure.

The team was also ranked by the IJ Global Awards 2020 across six categories, including North America Project Finance, Europe - Project Finance, Renewables Project Finance and Transport Project Finance.

Contact our team

Andrew Newbery
Partner

Nath Curtis
Partner