Germany > Banking and finance > Project finance
Clifford Chance excels at high-value, complex cross-border project financings. It recently advised Bi-Courtney Highway Services on the $1.5bn Lagos-Ibadan Expressway project, one of Nigeria’s first PPP transactions, and is acting for several lenders on the €1.1bn financing of the development, reconstruction and operation of St Petersburg’s Pulkovo Airport. In the energy sector, the team has been instructed as financing counsel to the project company on the development and financing of the Nabucco natural gas pipeline project. Tobias Schulten is ‘superb’, and Riko Vanezis heads the practice.
Freshfields Bruckhaus Deringer is strong in energy and transport infrastructure matters, and has particular expertise at the intersection of public law, procurement and financing. The team is advising Deutsche Bank on a Hermes-covered credit facility to finance an acquisition of a 100MW wind farm in Quebec; and HSH Nordbank on the financing of two solar energy parks in Spain. It also advised a consortium of banks led by Bayerische Landesbank on the project financing of the construction of two new data centres for T-Systems International. Daniel Reichert-Facilides is recommended.
Allen & Overy LLP enjoys a good reputation for large-scale infrastructure projects and energy matters, and is acting for European Investment Bank on the financing of offshore wind farms. It is also advising DZ Bank on the €44m project financing of a 20MWp solar energy park in Germany. Norbert Wiederholt is well regarded.
Linklaters LLP has been visible in the renewable energy financing space, where it advised KfW-IPEX, NIBC and LBBW on offshore wind farm financings, and acted for Commerzbank on the financing of the acquisition of solar energy parks in Italy. Other work included advising a consortium led by Macquarie on the acquisition of Open Grid Europe from E.ON. Eva Reudelhuber is ‘pragmatic’ and ‘understands our concerns and commercial objectives’.
White & Case LLP has been busy advising on energy, transport and other infrastructure matters, including acting for NordLB on the financing of two solar energy parks; and HSH Nordbank on the financing of a wind farm portfolio. It has also acted on other project financings in several European and African countries. Alexander Reuter heads the group.
CMS has seen an increase in renewable energy instructions, including advising Global Tech I Offshore Wind on the €1.5bn financing of Global Tech I offshore wind farm. The team has also been acting for the lenders on the financing of a leisure park with 500 holiday homes in Germany. Marc Riede is ‘extremely well known’.
Norton Rose LLP has strong expertise in PPP matters, and recently acted for Baader Bank on the financing of a renewable energy project. It also advised the lender syndicate, led by LBBW, KfW IPEX and Bremer Landesbank, on the financing of a gas-fired power plant. Dirk Trautmann is ‘an extremely well recognised name in the market’. Timo Noftz was promoted to the partnership.
Watson, Farley & Williams LLP has ‘a fantastic offshore practice’ as part of its well regarded, wider renewable energy practice, and the team shows ‘incredible knowledge and business judgement’. It advised HSH Nordbank and NordLB on the financing of two solar energy projects; LBBW on the €58m financing of France’s La Chapelle offshore wind farm; and the lead arrangers on a €1bn debt financing of the Global Tech I wind farm. Thomas Hollenhorst and Stefan Kilgus are the practice co-heads.
Hogan Lovells International LLP’s expertise focuses on energy and infrastructure project finance. The team advised a consortium of BAM and Vinci on its bid for the first A-model motorway programme contract. Several energy and engineering companies also instruct the team, which is headed by Ulrich Helm.
Noerr capitalises on its regulated industry and PPP expertise, and regularly advises banks on renewable energy project financings. Borrower clients include NA Renewable Energy and Nawaro BioEnergie. Torsten Fett heads the banking and finance group.