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Project finance in France

Clifford Chance

The Paris office serves as one of Clifford Chance’s main projects hubs worldwide. The firm has impressive capabilities in the field and can intervene anywhere on all sizes and types of project work. The Paris practice is particularly active in the renewables and power energy sector in Africa, acting for sponsors, development banks and lenders in many of the continent’s countries. It is notably involved in large hydropower and many renewables projects. The practice also shows high-level know-how in infrastructure and energy projects in Central Asia, including working on prominent power projects in Georgia and Uzbekistan. Highly strategic pipeline and other oil and gas work are also included in the team’s portfolio of expertise. Project finance partners Anthony GiustiniNikolaï EatwellDelphine Siino CourtinRichard Tomlinson, Daniel Zerbib and Milica Zatezalo-Falatar, who was promoted to partner in 2021, are world-class experts. Counsel Corinne Duvnjak is another key member. In addition to its strong international caseload, the firm is also a top reference for infrastructure and renewables projects in France and acts on several of the country’s landmark transport, public construction and housing and offshore wind ongoing projects. Public law experts David Préat and Gauthier Martin are the key contacts in that regard, with Zerbib contributing on the financing side.

Responsables de la pratique:

Anthony Giustini; Nikolaï Eatwell; Delphine Siino-Courtin; Richard Tomlinson; Milica Zatezalo-Falatar; Daniel Zerbib; David Préat; Gauthier Martin

Autres avocats clés:

Corinne Duvnjak

Les références

‘Nikolai Eatwell and Milica Zatezalo-Falatar are both providers of valuable partner level input in drafting and negotiating requirements of clients with difficult counterparties and on short deadlines.’

‘One of the best practices in Europe for project finance transactions globally. Particularly strong in energy. Very commercial, totally dedicated and top-notch legal skills.’

‘Always available, always delivering the idea that hits the mark to unblock a complicated commercial or legal situation, in short, it is the firm with which I prefer to work in project financing.’

‘I have worked with Delphine Siino Courtin and Corinne Duvnjak and can attest that these high-quality professionals have always been able to meet my expectations. They are not only excellent lawyers, but facilitators!’

‘Daniel Zerbib is an extremely competent and experienced lawyer. He has a great knowledge of the market, is available and clear in his explanations.’

‘A strong sense of team work ensuring that there is always access to legal advice, especially relevant today in international negotiations across multiple time zones. Strong language skills, enabling easy comprehension for multiple team members of different nationalities. Clear billing, easy to read and understand. Always professional as well at the same time highly personable.’

‘Anthony Giustini is always available, shows ability to simplify the legal requirements, is personable and professional, has extensive legal knowledge, is patient and able to put clients at ease, fluent in several languages. Richard Tomlinson is always available, has strong legal knowledge, is professional and calm.’

‘The team’s extensive experience as lenders’ counsel has been invaluable.’

‘The team is one the most remarkable on the market: extensive expertise, innovative approach, long-term relationships with key industry leaders, and professional attitude to politically sensitive issues.’

Principaux clients

African Development Bank (ADB)

Asian Development Bank

Asian Infrastructure Investment Bank (AIIB)

DEG

EBRD

EIB

FMO

IFC

Inter-American Development Bank

Inter-American Investment Corporation

MIGA

OeEB

OPIC

Proparco

The Emerging Africa Infrastructure Fund (EAIF)

The Korea Development Bank

Agence Française de Développement (AFD)

Africa Finance Corporation

Emerging Africa Infrastructure Fund

FMO

OEEB

OFID

Ethiopian Electric Power

French Ministry of Ecology, Sustainable Development and Energy

Ministry of Water Irrigation and Energy, Government of the Federal Democratic Republic of Ethiopia

ECAs:

Bpifrance

Hermes

K-sure

SACE

UK Export Finance

BNP Paribas

CACIB

CDC

Natixis

Société Générale

Barclays

HSBC

Macquarie

Santander

Standard Chartered bank

Türkiye Garanti Bankasi A.Ş.

UniCredit

MUFG

Bouygues

EDF

Eiffage

ENGIE

Meridiam

Total

Vinci

OCP

CNPC

Globeleq

Soladvent

Principaux dossiers

  • Advising the lenders on the construction and operation of a 390 MW natural gas-fired power plant near Abidjan, Côte d’Ivoire.
  • Advising on all aspects of the project development and financing of a 100 MW solar PV project in the Navoi Region of the Republic of Uzbekistan.
  • Advising Eolien Maritime France (the joint venture between EDF Renouvelables and Maple Power (Enbridge & CPPIB) and the project company on the financing of an offshore wind farm off the coast of Courseulles-sur-Mer, with an installed capacity of 448 MW.

Gide Loyrette Nouel A.A.R.P.I.

Gide Loyrette Nouel A.A.R.P.I. is home to an excellent international project practice, with a strong presence in Africa where it advises all types of stakeholders on infrastructure and energy projects. The team handles a high amount of energy-related work, advising on multiple solar projects as well as on large-scale hydropower projects. Several transport and real estate African infrastructure projects also feature in the caseload. The group’s expertise in European and Asian project work was sought after by EDF for the development of several billion-dollar nuclear EPR projects. Marie Bouvet-GuiramandJohn CrothersVictor GrandguillaumeNicolas Jean and Stéphane Vernay are all excellent. The international practice is completed by strong domestic capabilities. Public law expert Thomas Courtel and finance partners Laetitia Lemercier and Farah El-Bsat, who was promoted to partner in July 2021, have a very good reputation in France for public infrastructure projects, notably for road and transport projects. The firm is increasingly present in French offshore wind projects. The named partners share the lead of the practice.

Les références

‘The team is well acquainted with the transport sector and has a solid local network in Africa.’

‘Nicolas Jean has excellent interpersonal skills.’

‘The team is very responsive and dedicated. It is patient and willing to go the ‘extra mile’. Always attentive to clients’ needs, it understands the clients’ challenges and often provides innovative solutions.’

‘Great responsiveness and ability to proactively meet client expectations.’

‘The team’s broad legal know-how on industrial projects is unique, in terms of knowledge of relevant fields of law, jurisdictions, market practices and creativity.’

‘Stéphane Vernay is an outstanding business lawyer. He possesses a far-reaching legal expertise and masters all fields of law. In addition, he has broad experience in terms of jurisdiction and industries. As a result, he is able to provide high-value advice for structuring a complex industrial project. He is solution-oriented in the way he addresses legal and contractual issues. He is reliable, hardworking and always delivers on time.’

‘The members are committed to finding the best solutions for the client. Full availability to respond to our questions on time and to react to new ideas and ideas that we submit for analysis.’

‘Extremely responsive team, with in-depth knowledge and expertise of files.’

Principaux clients

EDF

Total Renewables

Organisation de la Communauté Economique des Etats des Pays des Grands Lacs (CEPGL) pour l’Energie des Pays des Grands Lacs (EGL)

Mediterranean Shipping Company (MSC)

Meridiam and FGIS

The Government of the Hashemite Kingdom of Jordan

International Finance Corporation (IFC)

Government of Barbados

Government of Senegal (CETUD)

ARELIA and sponsors: Bouygues, DIF and Abedeen

Rivage Investments and Caisse d’Epargne Midi Pyrénées

Ariane group

Lenders supporting Eiffarie and APRR

French State

Eiffage

Vinci, EDF, Renault and Demeter

Caisse des Dépôts et Consignations

SNEDAI group

Petroci Holdings

Société Ivoirienne de Raffinage (SIR)

AGENCE NATIONALE DU SERVICE UNIVERSEL DES TELECOMMUNICATIONS (ANSUT)

Principaux dossiers

  • Assisting EDF in the context of the engineering and procurement of six EPR nuclear reactors in India, Jaitapur.
  • Advising Naval Group regarding the design, construction and maintenance of the future Australian submarine fleet.

Linklaters

Linklaters‘ high-profile team specialises in large domestic and international projects in the transport and energy sectors. The team is a reference in France where it advises on landmark offshore wind projects and is often retained to assist with major brownfield asset renewables transactions. The practice is also advising on several road and waste projects. Overseas, the practice acts on several road and port projects in Europe and Africa in addition to advising on renewables and hydropower projects, notably in Portugal and francophone Africa. It is also involved in large-scale LNG projects in Asia and Russia, and has been appointed on a new large-scale renewables project in Turkey. Additionally, the team acts on large offshore projects in Asia. Practice head Bertrand Andriani, François April, Darko Adamovic and Stephen Le Vesconte as well public law expert Pierre Guillot are top names. They are supported by recently promoted partner Justin Faye and counsel Samuel Bordeleau and by managing associate Alex Bluett.

Responsables de la pratique:

Bertrand Andriani

Autres avocats clés:

François April; Darko Adamovic; Pierre Guillo; Stephen Le Vesconte; Justin Faye; Samuel Bordelau; Alex Bluett

Les références

‘Darko Adamovic is an unmatched negotiator, with strong commercial acumen. Alex Bluett is a rising star, efficient and reliable.’

‘I would single out Alex Bluett in Paris. Competency and confidence. Confidence in the quality of the deliveries and explanation of the most complex legal stuff.’

‘It has been a great experience. They’re very professional, full-service with a network of offices across the world (useful to check arbitration clauses or other provisions that need some legal advice in another jurisdiction), and reasonably priced.’

‘I have worked mostly with Stephen Le Vesconte and Alex Bluett. They’re both great lawyers, easy to work with, business-oriented with a vast experience and legal knowledge and expertise and always able to find solutions to unlock deadlocks in negotiations and help find a compromise acceptable to all parties.’

‘Darko Adamovic is one of the very best lawyers in the field, combining strong expertise and a real ability to get deals done.’

‘Linklaters’ expertise in the French market is unique. That is underpinned by the quality of their team, from associate through to partners. I wouldn’t hesitate to recommend Linklaters for any energy of project finance related work in France. With a special mention for counsel Samuel Bordeleau. Supreme legal talent combined with strong commercial accumen and a deal doing mentality.’

‘Very responsive team, very available, very efficient and respects the deadlines for deliverables of excellent quality. Their knowledge of the market and best practices was also greatly appreciated.’

‘Beyond the remarkable professional qualities mentioned above, Darko Adamovic (partners) and Romain Marchand are people with whom it is very pleasant to work, in a serene and constructive atmosphere.’

Principaux clients

Arise

Antin Infrastructure Partners

Maurel & Prom

Gabon Special Economic Zone (GSEZ)

International Finance Corporation (IFC)

Proparco

Emerging Africa Infrastructure Fund Limited (EAIF)

InfraVia Capital Partners

Engie

Crédit Agricole

Ministry of Energy (DFID)

Philae Advisory SA

Société Générale

Meridiam SAS

SACE

BPIfrance

Euler Hermes

RWE

Bouygues

Vinci

BNP Paribas

European Investment Bank

Eiffage S.A.

Novacarb

Sonnedix

Octopus Renewables Infrastructure Trust plc (ORIT plc)

Tenergie SAS

Valorem

Idex Services SAS

NGE

Arise

Antin Infrastructure Partners

Maurel & Prom

Gabon Special Economic Zone (GSEZ)

International Finance Corporation (IFC)

Proparco

Emerging Africa Infrastructure Fund Limited (EAIF)

InfraVia Capital Partners

Engie

Crédit Agricole

Ministry of Energy (DFID)

Philae Advisory SA

Société Générale

Meridiam SAS

SACE

BPIfrance

Euler Hermes

RWE

Bouygues

Vinci

BNP Paribas

European Investment Bank

Eiffage S.A.

Novacarb

Sonnedix

Octopus Renewables Infrastructure Trust plc (ORIT plc)

Tenergie SAS

Valorem

Idex Services SAS

NGE

Principaux dossiers

  • Advised the commercial lenders (including mandated lead arrangers BNPP, CACIB and SMBC) and the European Investment Bank on all aspects of the financing of the construction of the Courseulles-sur-Mer offshore wind farm.
  • Adviser to the lenders, Proparco and Emerging Africa Infrastructure Fund (EAIF) in connection with the structuring and financing of the Biovéa Project in the commune of Aboisso, 100 km east of Abidjan, in Côte d’Ivoire.
  • Advised the lenders on the acquisition by ENGIE and its consortium partners Crédit Agricole Assurances and Mirova, an affiliate of Natixis Investment Managers, of a portfolio of large hydro generation assets in the north of Portugal.

Asafo & Co.

Through its extensive network of African offices, Asafo & Co. is an obvious choice for conducting project work across the continent. The Paris team, which acts seamlessly alongside its colleagues based in the other offices, offers longstanding experience advising sponsors, developing banks and public entities. While it can cover the full spectrum of project work, from small to large projects, the firm is mostly active in the energy sector where it works on several mega hydropower projects as as well as on smaller solar and off-grid ones. The Paris office is very active in francophone Africa, and has been particularly active in DRC, Senegal and Guinea recently, but the its combined civil and common law expertise allows it work at ease anywhere on the continent, such as recently in Kenya. Key members include practice heads Pascal Agboyibor and Simon Ratledge, dual-qualified in civil law and common law, both of whom leading names in the market. Sébastien Gaudu and Bob Bastos and new partner Cendrine Delivré, who joined in March 2021 from CMS, bring complementary public law expertise to the table.

Responsables de la pratique:

Simon Ratledge; Pascal Agbopyibor

Autres avocats clés:

Sébastien Gaudu; Bob Bastos; Cendrine Delivré

Les références

‘Good knowledge of applicable international law and English and French practice, as well as local law/OHADA rules in francophone Africa. Great management of local counsel.’

Principaux clients

African Development Bank (AFDB)

Government of the Democratic Republic of the Congo

MGI Energy

Opec Fund for International Development (OFID)

EOS Holding

Lion’s Head Global Partners (LHGP)

The Facility for Energy Inclusion’s Off-Grid Energy Access Fund (OGEF)

West Africa LNG Inc.

LafargeHolcim

Principaux dossiers

  • Advising AfDB and OFID on the financing of the 120 MW heavy fuel oil (HFO) power plant developed in Malicounda (Senegal) by Melec Power Gen, Africa 50 and Senelec.
  • Advising LafargeHolcim on the development of two photovoltaic power plants for industrial self-consumption by Bamburi Cement for its cement plants located in Mombasa and Nairobi.
  • Advising Lion’s Head Global Partners and The Facility for Energy Inclusion’s Off-Grid Energy Access Fund (OGEF) on the negotiation and structuring of a secured loan to BBOXX RDC, a subsidiary of BBOXX Ltd, a leading provider of off-grid solar electricity.

Ashurst LLP

Ashurst LLP’s very experienced team has received a high number of new prominent mandates recently. Acting for all types of stakeholders from leading sponsors to banks, the practice is active both domestically and internationally with a strong presence on transport and energy projects. It is advising on France’s largest offshore renewables projects and is also involved in a highly significant road project in the country. Africa is another key area of focus for the team, with high-profile port, renewables and oil and gas projects in the caseload. The team is frequently retained to assist with export finance deals in Africa and has also been managing a huge amount of project work in Iraq. The practice is co-headed by the highly regarded specialised project finance partners Tom Longmuir and Mark Barges (both dual-qualified as solicitor and avocat); as well as by public law expert Jacques Dabreteau, energy partner Vincent Trévisani and the Paris- and London-based (and also dual-qualified) Yann Alix, who also chairs the firm’s African group.

Responsables de la pratique:

Mark Barges; Tom Longmuir; Yann Alix; Vincent Trevisani; Jacques Dabreteau

Les références

‘I am pleased with the level of service provided by Tom Longmuir and his team. They get the job done.’

‘Tom Longmuir is always on hand to help and I can count on him for his reliability and dedication to the case.’

Principaux clients

J.P. Morgan

UK Export Finance

Natixis

Octopus Investments

Fayat

Kasada Capital Management

Engie

Deutsche Bank

African Development Bank

wpd Offshore

Managem

VAALCO Energy

MUFG Bank, Ltd.

Société Générale

Goldman Sachs

ARISE Port & Logistics (ARISE P&L) and ARISE Integrated Industrial Platforms (ARISE IIP)

EIB

Nareva

ADP

Principaux dossiers

  • Advised Allied Irish Banks, Société Générale and La Banque Postale on the refinancing of Octopus Renewables’ portfolio of solar photovoltaic power plants in France.
  • Advising J.P. Morgan, as initial mandated lead arranger, and UK Export Finance on €1.9bn facilities to the National Authority for Tunnels of the Arab Republic of Egypt to finance the development of the Cairo Monorail project.
  • Advising Natixis on a facility to National Electric Grid of Uzbekistan JSC guaranteed by the International Bank for Reconstruction and Development, for the landmark 100 MW Nur Navoi solar photovoltaic IPP.

De Pardieu Brocas Maffei

De Pardieu Brocas Maffei is a sure bet for project finance in France. The firm is particularly popular with sponsors and lenders regarding the financing of renewables projects and asset portfolios, spanning solar, wind, biogas, and hydrogen projects. The team is also well versed in advising lenders on French public infrastructure projects. It recently worked on the financing of several broadband projects and also on the refinancing of a motorway. Practice head Jean-Renaud Cazali ranks among the best in his field, followed in his path by Antoine Payen  who was promoted to partner in 2021.

Responsables de la pratique:

Jean-Renaud Cazali

Autres avocats clés:

Antoine Payen

Les références

‘Very pragmatic approach to transactions; great availability; excellent value for money.’

‘Very strong understanding of operational constraints of our company’s activity; great expertise and knowledge of the market.’

Principaux clients

BORALEX

LA BANQUE POSTALE

NATIXIS

EIFFAGE

NEOEN

BEI

CAISSE DES DEPOTS ET CONSIGNATIONS

SPIE BATIGNOLLES

EDF RENOUVELABLES

GREEN YELLOW

SUEZ

VAUBAN INFRASTRUCTURE PARTNERS

DEUTSCHE PFANDBRIEFBANK (PBB)

KFW IPEX-BANK

ALBIOMA

INNOVENT

SOCIETE GENERALE

EIFFEL

CEPAC

CAISSE D’EPARGNE HAUTS DE FRANCE

VINCI

LANDESBANK SAAR

AUXIFIP

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK

BNP PARIBAS

PAPREC GROUP

DIF INFRASTRUCTURES

TOTAL

VEOLIA

SOLVAY

Principaux dossiers

  • Advising the lenders on the refinancing of the ‘ELCANO’ portfolio holding 13 Valorem wind and photovoltaic farms for a global amount of €300m.
  • Advising Rgreen Invest and Mirova on the setting-up a €80m financing for HysetCo, an asset management firm devoted to the development of hydrogen energy.
  • Advising the lenders on the financing of the service delegation contract for the implementation and operation of a very high-speed telecommunications network in the Haute-Savoie department.

Herbert Smith Freehills LLP

Herbert Smith Freehills LLP offers a solid combination of finance, public law and project expertise which allows the firm to assist a wide range of stakeholders, including banks on projects in France and Africa. Domestically, the firm is assisting clients acting as bidders on several airport projects and also regularly handles renewables energy project finance work. In Africa, the practice is also advising on the financing of various infrastructure projects, such as roads, stadiums and ports, notably in Ivory Coast. It also assists lenders and developers with solar and electricity grid projects. Projects in Asia also feature in the caseload. Régis Oréal heads the practice which includes finance partners Eric FiszelsonLouis de Longeaux and Rachel Campbell, as well as public law experts Christophe Lefort and  Mathias Dantin, who made partner in 2021. The hiring of Michaël Armandou (ex Willkie Farr & Gallagher LLP) in autumn 2021 is a strong addition for French and international project finance work.

Responsables de la pratique:

Régis Oréal

Autres avocats clés:

Eric Fiszelson; Christophe Lefort; Louis de Longeaux; Rachel Campbell; Mathias Dantin; Michaël Armandou

Principaux clients

Akuo Energy

African Export Import Bank (AfreximBank)

Asian Development Bank

Agence Française de Développement

Bank of Tokyo-Mitsubishi

BNP Paribas Group

BPCE/Natixis Group

Bpifrance

Caisse des Dépôts et Consignations

Crédit Agricole Group

DIF Infrastructure

Indonesia Eximbank (Indonesia Export and Import Bank)

International Finance Corporation (IFC)

La Banque Postale

Marguerite Adviser

Marubeni

Meridiam Infrastructure Partners

Neoen

Norddeutsche Landesbank Girozentrale (Nord/LB)

Proparco (French DFI)

Samsung Life Insurance

Société Générale

Principaux dossiers

  • Advising Akuo Energy on the debt and equity refinancing arrangements for a 103MW multi-technology, multi-geography portfolio of renewable energy assets (wind, solar with battery storage) currently in operation.
  • Advising Trafigura on the financing of the Battery Energy Storage System (BESS) on Nyrstar Balem in Belgium.
  • Advising Cellnex on the acquisition of French Towers Hivory from Altice France and Starlight Holdco through an initial investment of €5.2bn.

Orrick Rambaud Martel

Orrick Rambaud Martel‘s practice focuses on infrastructure and energy projects in France and Africa. The team most often assists sponsors, operators and developers, but also acts for lenders and state entities. In the infrastructure sector, the team is advising on several tender projects relating to new French motorway projects and also on road and airport projects in Cameroon and Guinea. The team is highly involved in the energy sector. In France, the practice is advising the French state on the development of large-scale offshore projects in addition to advising sponsors and operators on African renewables, electricity grid and conventional power plant projects. The practice is co-headed by a complementary trio made up of project partner Yves Lepage, public law expert Geoffroy Berthon and finance partner Carine Mou Si Yan. Foucaud Jaulin, who made partner in 2021, is another key member.

Responsables de la pratique:

Yves Lepage; Carine Mou Si Yan; Geoffroy Berthon

Autres avocats clés:

Foucaud Jaulin

Les références

‘Very good team, reliable and efficient.’

‘Yves Lepage and his team made project finance accessible and efficient.’

‘Yves Lepage and Foucaud Jaulin show strong legal expertise and commercial sense. They are dealmakers.’

Principaux clients

3i Group Plc

Allianz Global Investors

Azienda Trasporti Milanesi (ATM)

Caisse des Dépôts et Consignations (CDC)

Colas

Egis Projects

Eiffage

EOS Holding

ERG

Eurofiber

Geogas LNG

Icade Promotion

Jaguar Network

Société Générale

Société Générale Insurance

TERÉGA (formerly called TIGF)

The French Government

The French Government

Voltalia

Principaux dossiers

  • Advising the French government on calls for tenders regarding the implementation of several offshore wind farms.
  • Advising the lenders of the consortium led by FAYAT and EGIS (and which also includes Caisse des Dépôts et Consignations) regarding the bidding process and €500m financing of the construction of the A69 motorway concession.
  • Acting for bidders in the €535m tender process launched by Ile de France Mobilités for the public service contract for the operation of lines 16 and 17 of the ‘Grand Paris Express’ metro system.

White & Case LLP

White & Case LLP advises leading banks and sponsors on projects in France and abroad. In France, the firm has been particularly active in the transport and the renewables sectors, but also acted on a large public housing project in the defense sector  as well as a number of social housing projects. The firm is also assisting a sponsor with several of France’s landmark offshore wind projects. The Paris team is increasingly sought after for French and European brownfield work and has notably been handling large broadband, telecoms towers and data center brownfield transactions lately. The Paris practice’s coverage extends to many other regions in the world, regularly collaborating with the firm’s international offices, notably in Asia and the US. Africa is a strong region of focus for the team, with Europe and Central Asia growing in importance, with matters including renewables, hydropower, oil and gas and mining projects as well as several transport projects. The team is increasingly collaborating with the Paris arbitration team to resolve project issues raised by the Covid-19 crisis. Public law partners Jean-Luc Champy and François-Guilhem Vaissier and project finance partner Amaury De Feydeau direct the team. Quirec De Kersauson and Paul Loisel were promoted counsel early 2022.

Responsables de la pratique:

François-Guilhem Vaissier; Amaury De Feydeau; Jean-Luc Champy

Autres avocats clés:

Quirec de Kersauson; Paul Loisel

Les références

‘The team has always been attentive, available and a source of proposals.’

‘They are present, available, know the market, the precedents, know how to move the lines. They always seek to improve our position without risking to jeopardise the negotiation.’

‘We particularly appreciated the commitment of the teams who have always taken into account our time constraints, and the perspective they bring to dealing with the issues we are facing.’

‘For my part, I worked a lot with Maître Vaissier with whom I have an excellent relationship given his listening skills, his great availability, his responsiveness, his professionalism and his kindness. His support was decisive in the cases he had to deal with.’

‘The project finance team has an excellent knowledge of the subjects and of practices of the various players (banks, financial institutions, delegating authority, sponsors and builders). This makes sure that all the necessary clauses for financial closing are be incorporated ab initio into contracts.’

‘The expertise, the availability of the teams and their ability to persuade greatly facilitate negotiations and reduce delays in setting up financing stand out.’

Principaux clients

Compagnie Ivoirienne d’Electricité (CIE)/Eranove/Emerging Capital Partners (ECP)

Eiffage

Eranove

Iberdorla Renovables

LELP Anaklia Deep Sea Port Development Agency (Ministry of Regional Development and Infrastructure of Georgia)

Vinci Concessions

Themis Energy

Bouygues Telecom

Altitude Infrastructure

Vauban Infrastructure Partners

DIF Capital Partners

Natixis

Société Générale

Chaabi International Bank Offshore – Groupe Banque Centrale Populaire (BCP)

Attijariwafa Bank Europe

Fonds Gabonais d’Investissements Stratégiques (FGIS)

National Bank of Greece

Katara Hospitality

Transdev

Coriance

NGE

Republic of Gabon

Principaux dossiers

  • Representing Coriance and NGE in connection with the concession relating to the cooling networks of the city of Paris.
  • Representing Iberdrola Renovables Energia in connection with its bid submission for the 1 GW offshore wind mega-project in the Normandy region in France (AO4) and for the South Brittany floating offshore wind farm.
  • Representing the lenders, including Chaabi International Bank Offshore (Groupe Banque Centrale Populaire), Société Générale and Attijariwafa Bank Europe, in relation to the $122m financing for the design, construction, development and operation of the Tri-K gold mine project located in the Republic of Guinea.

Willkie Farr & Gallagher LLP

At Willkie Farr & Gallagher LLP, practice head Amir Jahanguiri’s wealth of experience helps secure a steady stream of high-profile projects in France and abroad. The team has recently been retained to advise on the construction of the third Bosphorus bridge in Turkey and is also involved in various energy and projects in Africa and the Middle-East. Combined with Thierry Laloum’s thriving public law expertise, the project finance group also has high-level capabilities to advise on large French matters. Recently, the firm has notably completed several large brownfield transactions in the broadband network sector. Counsel Antoine Bouzanquet is the other key name in the practice following the departure of Michael Armandou  in October 2021.

Responsables de la pratique:

Amir Jahanguiri

Autres avocats clés:

Antoine Bouzanquet

Principaux clients

Meridiam

CMA CGM

Ardian

Bouygues Construction

Bouygues Telecom

Vinci Airports

Vinci Concessions

Rönesans

Atlantia (Autostrade per l’Italia)

Sojitz Corporation

Agence Spéciale Tanger Méditerranée

Government of Djibouti

Great Horn Investment Holdings (Djibouti)

South Bridge

ArcelorMittal

Veolia

European Investment Bank

Eiffage

Total Direct Energie

STOA

Société Générale

Allianz

Caisse des Dépôts et Consignations

Hydrogène de France

Nareva

Principaux dossiers

  • Advised Bouygues Telecom on the structuring of a joint venture aimed at purchasing and accessing rights to fibre for home (FTTH) lines from Orange in certain areas in France.
  • Advised Banque des Territoires, CNP Assurances and EDF Invest on the acquisition of a 50% equity interest in Orange Concessions.
  • Advised Meridiam in connection with the successful bid for the concession of the Sofia Airport.

Allen & Overy LLP

Allen & Overy LLP

Responsables de la pratique:

Driss Berheri; Romaric Lazerges; Alexandre Ancel; Adrian Mellor

Les références

‘The firm knows how to assemble teams adapted to each situation thanks to a large network, which allows them to be relevant on a very wide variety of transactions. The team is also always available and responsive.’

‘Driss Berheri, in addition to being an excellent lawyer, is endowed with a great commercial sense, which allows him to disentangle inextricable situations, and to appreciate the various parameters of a transaction.’

‘In my opinion, what makes this practice unique is the high level of professionalism and knowledge. The team is well structured, very competent, very organised and very nice to work with. I feel that I can rely on A&O. They are actively structuring the negotiation.’

‘Romaric Lazerges is well structured in handling the work, good at framing the topics and key in helping the negotiations move along.’

‘Driss Berheri is fantastic partner. He helps solve prickly issues during negotiations.’

Principaux clients

Infravia

Natixis

BNP Paribas

Société Générale

Banco Santander

Engie

Altitude Infrastructure

DIF Infrastructure

Bolloré Group

Domo Chemicals

African Development Bank

IFC

BMCE

Deme Group

Phoenix Towers International

Principaux dossiers

  • Advised a consortium of banks as lead arrangers on the structuring and negotiation of the financing for Orange fiber telecom concessions in France.
  • Advised EIB on the review and negotiation of the financing documentation on the CEOG (Centrale Électrique de l’Ouest Guyanais) project in French Guyana.
  • Advised consortium of banks in relation to the financing of the construction and development of terminal 2 of the Port of Abidjan.

Baker McKenzie

Baker McKenzie

Responsables de la pratique:

Michael Foundethakis

Autres avocats clés:

Richard Mogni

Principaux clients

Crédit Agricole

BNP Paribas

Société Générale

African Export-Import Bank (“Afreximbank”)

PROPARCO (the subsidiary of the Agence française de Développement dealing with the private sector)

MUFG Bank

Africa Finance Corporation (“AFC”)

Eastern and Southern African Trade and Development Bank (“TDB”)

Asian Infrastructure Investment Bank (“AIIB”)

Black Sea Trade and Development Bank

CureVac

Principaux dossiers

  • Acting for African Export-Import Bank in relation to the construction of the first in a series of African Centres of Medical Excellence (‘ACME’).
  • Advising PROPARCO, a subsidiary of the Agence Française de Développement (“AFD”) dedicated to the private sector, in relation to a $10m loan granted to Africure Pharmaceuticals.
  • Advised Société Générale, BNP Paribas and the Black Sea Trade and Development Bank (the lenders) on a multi-facility waste to energy project in Istanbul, Turkey.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton

Responsables de la pratique:

Barthélemy Faye; Andrew Bernstein

Principaux clients

Petrosen

Republic of Senegal

Republic of Iraq

Republic of Benin

Port de Dakar

Envol Immobilier

Société des Hydrocarbures du Tchad

Republic of Chad

ArcelorMittal

Principaux dossiers

  • Advising the Ministry of Oil of the Republic of Iraq and two Iraqi state-owned companies in the Gas Growth Integrated Project, on a major investment project with TotalEnergies that is expected to include total investments estimated at $27bn, making it one of the largest projects ever in Iraq.
  • Advising the Republic of Benin on its international debt borrowing strategy.
  • Advised the Republic of Senegal and PETROSEN on the development and financing of the Sangomar oil field and on the Grand Tortue Ahmeyim Project.

Dentons

Dentons

Responsables de la pratique:

Marc Fornacciari; Jean-Marc Allix

Autres avocats clés:

Dorothée Griveaux

Principaux clients

Agence française de développement (AFD)

Autoroute et Tunnel du Mont-Blanc (ATMB)

BNP Paribas

Caisse des Dépôts et Consignations (CDC)

Chambre de Commerce et d’Industrie Seine Estuaire

Compagnie des Alpes

EGIS

French Ministry for the Ecological Transition

ING Bank

Meridiam

Orange

Vinci Group

Principaux dossiers

  • Advising the consortium composed of Meridiam and Immobilière 3F during the award process for the concession (project launched by the French Ministry of Defence (‘Cegelog’ project).
  • Advising the consortium composed of Compagnie des Alpes, POMA, Autoroute et Tunnel du Mont-Blanc and Crédit Agricole de Savoie in relation to the concession for the construction and operation of a new funicular in the Alps called ‘FUNIFLAINE’.
  • Advising a consortium controlled by Egis and Caisse des Dépôts et Consignations in relation to the award of the concession of the Tahiti Faa’s airport in French Polynesia.

DLA Piper

DLA Piper

Responsables de la pratique:

Eric Villateau; Jérôme Pentecoste

Principaux clients

Caisse des Dépôts et Consignations

Idex

Glennmont Partners

Omnes Capital

Mirova (now Vauban Infrastructure)

PROPARCO

Urbaser Environnement

EG Group

CIC (Crédit Industriel et Commercial)

COVAGE

Société Générale

Conquest Asset Management

3i Group

ENGIE

Bouygues

Thales

Sodexo

Dalkia

Département de la Meuse

Eiffage Concessions

Altitude Infrastructure

Principaux dossiers

  • Advising the lenders and hedging banks (Société Générale, Natixis, NordLB and Banco Sabadell, as well as the Caisse d’Epargnes in Aquitaine Poitou-Charentes, Bourgogne Franche-Comté and Midi-Pyrénees) on the financing of Altitude Infrastructure’s deployment of two private fibre optic networks launched by the Landes and the Côte d’Or departments in France.
  • Advising the lenders (CIC / Crédit Agricole) on the financing of the construction, operation and maintenance of the waste management concession of PAU BEARN in the South West of France, operated by a wholly-owned subsidiary of URBASER.
  • Advising Caisse des dépôts et consignations as co-sponsor with RATP Connect on its investments and financing of the very high speed broadband network of the GRAND PARIS.

Hogan Lovells (Paris) LLP

Hogan Lovells (Paris) LLP

Responsables de la pratique:

Bruno Cantier; Olivier Fille-Lambie

Les références

‘I greatly appreciate the quality of the deliverables (in terms of legal documentation of financing, the promptness and responsiveness and proximity to the clientele shown by the  firm). The collaboration is very effective, thanks to the diversity of profiles and skills that the firm offers.’

‘Olivier Fille-Lambie shows remarkable listening skills, technical competence and ability to coordinate. Always available, he instills a good dynamic to find innovative contractual and legal solutions adapted to the different situations that may arise.’

‘A close-knit and pragmatic team that delivers sound advice in order to finalise deals on time without ever have to sacrifice on our main points.’

‘Olivier Fille-Lambie has great knowledge of the practice which allows him to have a pragmatic and efficient approach.’

‘Strong collaboration and involvement of teams. Their ability to search for solutions and their proactivity are appreciated.’

‘Great technical and interpersonal skills. We worked with Bruno Cantier and Olivier Fille-Labie who were very flexible and helpful.’

‘Sharp expertise and exceptional research capacity that guide us on the right legal path, and have enabled us to obtain a better-than-hoped result. Good internal communication within the team: when we talk to one we talk to all. Very competitive price for the quality of the work provided.’

‘Bruno Cantier shows good knowledge of legal, financial, technical and operational aspects, and great ability to adapt to take into account internal reversals of positions, while maintaining the limits of what it is legally doable.’

Principaux clients

A consortium led by Engie and Meridam

Themis Energy

TSK

BPI FRANCE

BNP PARIBAS

Caisse d’Épargne Grand Est Europe

Société Générale

Proparco

Bank of China

Crédit Lyonnais

Banque Palatine

Principaux dossiers

  • Advised the sponsors in relation to the financing of two solar PV plants in Senegal being developed under the IFC’s Scaling Solar programme.
  • Advised Themis Energy as sponsors on the Singrobo hydropower dam concession project on the Bandama River in Ivory Coast (44 MW).
  • Advising EPC contractor TSK on the negotiation of the EPC contract related to the construction of a 46 MW biomass power in Ivory Coast.

Jones Day

Jones Day

Responsables de la pratique:

Sophie Chevallier; Nicolas Brice; Frédéric Gros; Rémy Fekete; Philippe Delelis

Les références

‘Great expertise in French PPP projects. Documentation produced to a high standard. Ability to deploy resources quickly to meet very tight deadlines in periods where availability is generally difficult (e.g., summer)’.

‘Sophie Chevallier is very experienced and capable of leading negotiations with multiple parties in a very calm and focused manner and delivers good results. She leads a very efficient and responsive team, which covers all the aspects of a PPP deal (including banking finance and public law).’

Principaux clients

TotalEnergies

Agence Togolaise d’Electrification Rurale et des Energies

Renouvelables

Framatome

Cap Vert Energie (CVE)

Voltalia

Fluence Corporation

Société Générale

Caisse des Dépôts et Consignations (CDC)

Agence des Participations de L’Etat (APE)

Mayer Brown

Mayer Brown

Responsables de la pratique:

Alban Dorin; Olivier Mélédo

Les références

‘The team is very professional and provides tailored-made advice on international finance transactions.’

‘Alban Dorin handles complex cross-border transactions, in particular in Africa, very well and is also easy to work with. He is solution-oriented and always makes sure that the transaction closes smoothly and in a timely manner.’

‘Commercially minded, quality work and in-depth industry experience.’

‘Alban Dorin is very thorough, provides solid analysis, and is commercially-minded and solution-driven.’

‘An excellent cross-border practice with strong lawyers in all the key energy markets around the world, in particular in relation to Latin America and Africa; an excellent international financing team.’

‘Olivier Mélédo is future star of projects in Africa. His all-around practice is a huge benefit to clients.’

Principaux clients

Africa Finance Corporation

Bank of China

China CITIC Bank

Coris Bank

Générale du Solaire

IB Vogt

Millennium Challenge Corporation

Presidency of the Republic of Benin/The Government of Benin

Société Générale

Société Mauritanienne des Hydrocarbures et de Patrimoine minier

Total EREN

Principaux dossiers

  • Advising Africa Finance Corporation (AFC) on its $247m investment in  Nouvelle Gabon Mining (NGM), a company holding two major manganese concessions in Gabon and subsequent acquisitions.
  • Advising the MCA-Benin II (an entity of the U.S.-based Millennium Challenge Corporation), the Government of Benin and the SBEE (Beninese electricity distribution company) on the development of an Independent Power Project (IPP) legal and institutional framework, standard form typical contracts (including concession and PPA) and a competitive bidding process in Benin.
  • Advising Société Mauritanienne des Hydrocarbures et de Patrimoine minier SMHPM in connection with the financing of its equity share in the Grand Tortue Ahmeyim LNG project, (Mauritania and Senegal); and the Government of Mauritania in connection with same.

Norton Rose Fulbright

Norton Rose Fulbright

Responsables de la pratique:

Anne Lapierre

Principaux clients

BNP Paribas

Crédit Agricole Corporate and Investment Bank

Dutch Development Bank FMO

Engie Green

INELFE

Masen

Mirova

TotalEnergies

Tullow Oil

Principaux dossiers

  • Advised the lenders and hedge banks on the financing of the 122 MW Sud Marne wind project on behalf of Hexagon Renewable Energy SA.
  • Acted for Engie Green France and Mirova in relation to the refinancing by Auxifip, BPCE Energeco and Caisse d’Epargne et de Prévoyance Ile-de-France of six PV projects in France.
  • Advising Electricity Interconnection France-Spain (INELFE) – the joint company set up by the French and Spanish electricity transmission system operators Réseau de Transport d’Électricité and Red Eléctrica de España – on a €1.8bn project to connect electricity transmission cables between Gatica in Spain and Cubnezais in France.

Reed Smith

Reed Smith

Responsables de la pratique:

Fernand Arsanios; Victoria Westcott; Baptiste Gelpi

Les références

‘Very helpful team, always very easy to reach.’

‘Victoria Westcott is always eager to support the lenders on any matter possible.’

Principaux clients

Banque Palatine

CIC – Credit Industriel et Commercial

Crédit du Nord

Proparco

BNP Paribas

Société Générale

Natixis

EIB

Macquarie Bank International

GS Inima Environment SAU

European Bank for Reconstruction and Development

Asian Development Bank

Meridiam

Vinci

Voltalia

Crédit Agricole Corporate & Investment Bank

Shearman & Sterling LLP

Shearman & Sterling LLP

Responsables de la pratique:

Lachlan Poustie

Les références

‘I was very happy with the responsiveness of the team and their technical skills.’

‘Lachlan Poustie is a partner with excellent contacts and very effective negotiation skills. He was able to involve the right people on our file and his expertise in project financing in Africa was extremely useful. He was able to carry out a particularly complex file and advise us on how to move forward.’

Principaux clients

IFC – International Finance Corporate

EIB – European Investment Bank

Proparco

OFID – Fund for International Development

Standard Bank

DBSA- Development Bank of Southern Africa

AfDB – African Development Bank

EAIF – Emerging Africa Infrastructure Fund

DEG – Deutsche Investitions und Entwicklungsgesellschaft

Engie

Principaux dossiers

  • Advised African Development Bank, Deutsche Bank, European Investment Bank, International Finance Corporation, OPEC Fund for International Development, Société de Promotion et de Participation pour la Coopération Economique (Proparco) and Standard Bank on the restructuring of the TAV Airports group’s two concessions in Tunisia (at Monastir and Enfidha).