Project finance in France

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 Giustini, Nikolaï Eatwell, Delphine Siino Courtin, Richard 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.

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-Guiramand, John Crothers, Victor Grandguillaume, Nicolas 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.

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.

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.

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.

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.

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.

Dentons

DLA Piper

Jones Day

Norton Rose Fulbright

Shearman & Sterling LLP