Project Development & Finance

Squire Sanders’ project development and finance practice is internationally recognized. Our lawyers have advised on project development issues in some of the most noteworthy energy projects in the industry. Several of these were the first of their kind in their respective countries. Two deals in recent years were also named "Deal of the Year" in highly respected project finance publications. Our experience includes the development of greenfield projects from the concept or bidding stage; analyzing tender documents and off-take documents and assisting in the preparation of bids; tax structuring; negotiating consortium, teaming and joint development agreements; assisting to obtain project approvals and preparing detailed legal risk analyses for use by project proponents and financiers in achieving bankable feasibility for projects.

Our lawyers have extensive experience in the area of energy and resources project finance and frequently work with major project sponsors, financial advisers, investment banks, commercial banks, export credit agencies and multilateral financial institutions. Many of our lawyers have also been internationally recognized for their expertise in this area including attribution in Euromoney Legal Media Group’s Guide to the World’s Leading Project Finance Lawyers. Our work in energy project finance covers both equity and debt structures, as well as other sophisticated finance structures such as leveraged leasing , tax effective and public finance.

Representative Experience

• Advising the Ministry of Oil of Kuwait in the planning and construction of a gas-gathering and liquefaction facility including reviewing the design and construction of the facility.
• Representing a US-based energy company in preparing and negotiating an operation and maintenance agreement, major maintenance agreements, a power purchase agreement and other project-related agreements for power generation facilities in Manaus, Brazil.
• Serving as project counsel to an international consortium of energy companies in all aspects of the development, permitting, construction, operation and maintenance of a 1 billion cu. ft. LNG receiving and regasification terminal under development in Sonora, Mexico, including infrastructure connecting an LNG regasification terminal in Sonora with distribution points in Mexico and the United States.
• Representing a US investor in all aspects of the development of the first project-financed merchant plant and the first fully integrated energy project in Latin America (located in Peru), including project structuring, joint venture documentation, finance documentation, construction contracts, operation and maintenance agreements, and other project agreements. This project was named Deal of the Year by a major international project finance publication.
• Representing a Spain-based utility in a US$1 billion LNG project in Egypt and in the negotiation of a natural gas purchase agreement with the government of Egypt.
• Serving as developer's counsel in all aspects of the development of a US$250 million coal-fired power project in Northern Sumatra, from power purchase agreement through financial closing.
• Counseling a Kazakh utility company in bridge loan and eurobond financings intended to support capital improvements in the national grid.
• Representing a Spain-based energy company in all aspects of the development of the Hermosillo Power project, a 250 MW combined-cycle power generating facility in the state of Sonora, Mexico including negotiation of the power purchase agreement with CFE, preparation and negotiation of a contract for the engineering, procurement and construction of the facility, a fuel supply agreement, an operation and maintenance agreement and financing documentation with the Inter-American Development Bank.
• Advising the underwriters with the build/transfer development of a state-owned 3,000 MW oil-fired power generation project in Saudi Arabia. The work included preparing the form of sovereign guarantee to serve as credit support for the financing.
• Acting for KUFPEC in relation to its joint venture arrangements in the AUS$10 billion Wheatstone LNG Project.