Project Finance
The project finance lawyers of McGuireWoods represent sponsors, developers, investors, underwriters, lenders and contractors at every step in the development, financing, construction and operation of capital-intensive projects and facilities around the world. Recent client projects include power plants, renewable energy (including wind, solar, battery and RNG), oil refineries, sustainable aviation fuel plants, industrial plants, pipelines, mines, telecommunications networks and facilities, data centers, transportation systems, transmission lines, sport stadiums and other infrastructure assets.
We advise clients on projects and related financing arrangements across all levels of the capital structure. These arrangements include conventional construction and term loan facilities (including tax equity and tax credit transfer agreement bridge loan facilities), warehouse and acquisition facilities, letters of credit facilities, commercial paper facilities, capital markets offerings of registered and unregistered project debt securities, sale-leasebacks, leveraged leases, synthetic leases and single investor lease structures, joint ventures and partnership arrangements, private placements and tax-exempt financings, and financing from multilateral institutions, export credit agencies and national development and aid agencies.
The team prepares tender documentation, bids and proposals to acquire project assets. We also negotiate, draft and evaluate key project agreements, including power purchase agreements, throughput and other off-take agreements, engineering, procurement and construction agreements, fuel supply, transportation and other long-term supply agreements, and operation, maintenance and service agreements. Where nontraditional or alternative project structures can provide additional opportunities, our lawyers advise clients on related financing, tax and regulatory implications of these structures. We also provide counsel on domestic and international privatization transactions.
McGuireWoods developed an extensive body of work in energy-related project finance. We advised project participants in connection with the development and financing of approximately 100 power generating projects in the United States and abroad. Representing tens of thousands megawatts of electric capacity with a combined value of more than $100 billion, these projects included coal-fired, gas-fired, renewable energy and hydroelectric power generation, cogeneration facilities, alternative technologies and fuels. Projects also include nuclear, integrated gasification combined cycle (IGCC), wood and landfill gas-to-energy, as well as associated transportation systems and other infrastructure assets.
The project finance group is supported by McGuireWoods attorneys with experience in capital markets, tax, real estate, energy, regulatory, environmental, and mergers and acquisitions.
Ranked nationally and in California, Georgia, Illinois, North Carolina, and Pennsylvania: Pittsburgh and Surrounds in banking and finance.
– CHAMBERS USA
Ranked nationally for project finance – energy and power, and commercial lending: advice to bank lenders.
– THE LEGAL 500 U.S.