Project finance and PFI in Netherlands

Allen & Overy LLP

The Allen & Overy LLP team offers 'an array of capabilities that enable this extraordinary practice to resolve multifaceted complexity in PPP projects under the most straining deadlines'. It has been involved in many of the major projects acting as both borrowers' and lenders' counsel on wind and solar PPPs including acting for the European Iinvestment Bank on the flood defence PPP in connection with the strengthening of the 32km Afsluitdijk. Werner Runge advised lenders including Rabobank and ING on the financing of the 100MW Krammer Wind Park. 'Strong negotiator' Zeeger De Jongh and regulatory expert Marinus Winters are also standout practitioners.

Clifford Chance

Well known for its banking and finance abilities, Clifford Chance offers top-flight project finance and related skills to sponsors, lenders, ECAs, and investors. Hein Tonnaer, Nanette Rutgers, and Liesbeth Buiter are advising Blauwwind, acting as sponsor and project counsel on the €900m offshore wind farm. Leading lawyer Jaap Koster advises on high-value project financing in the energy and transportation sectors. Rabobank, ABN AMRO, and Dura Vermeer are among its client list.

Norton Rose Fulbright

Wouter Hertzberger and Daphne Broerse head a team at Norton Rose Fulbright which attracts many of the most high-value mandates in the energy, renewable energy, infrastructure, and commercial developments sectors. It undertakes both domestic and international PPPs including advising the winning BAAK Consortium on the tendering of the DBFM agreement for the design, construction, finance, and maintenance of the new motorway connection between the A15 and A20. Of counsel Joris Ravelli  and senior associate Ania Gorna are other key team members.

De Brauw Blackstone Westbroek

De Brauw Blackstone Westbroek 'is well equipped to handle the hardcore legal work and understands the larger perspective'. Menno Stoffer, who specialises in domestic and international financing and restructuring matters, co-heads the practice with Bommel van der Bend. 'All lawyers in the team have outstanding analytical skills' especially senior associate Stefan Derksen and Nicolien Van Den Biggelaar. The practice offers a full finance service on projects combined with real estate, corporate, and litigation expertise. Highlight work includes advising BAM PPP on the financing and subcontractor agreements in relation to the DBFM agreement in relation to the A12 Motorway project. It also advised the client on the refinancing of its facilities.


HabrakenRutten offers comprehensive services on the structuring and financing of substantial infrastructure and real estate projects. Peter Habraken and Henk Raven advised the consortium on the successful refinancing of a PPP project during the construction phase of the A1-A6 project, which has a value of more than €1bn and which involved nine international banks, including the European Investment Bank. Team member  Willemijn Ritsema van Eck has been promoted to partner.


NautaDutilh's project finance, real estate, and energy and utilities expertise combines with its regulatory, competition, and tax abilities to offer clients a full service on project-related work. The team is acting for ABG Sundal Collier, the sole manager for the bond issue by Tulip Oil Netherlands Offshore in connection with the placement of an €8m five year senior secured bond. It is also acting on a number of projects as lenders' counsel in the infrastructure and real estate sectors. Jaco Belder, David van Ee, and Erik Geerling are some of the standout lawyers in the team.

Pels Rijcken & Droogleever Fortuijn NV

Acting predominantly for government-side clients, Pels Rijcken & Droogleever Fortuijn NV is entrusted with PPP projects in the infrastructure, energy, and accommodation areas. It is credited with 'good knowledge, coupled with much practical experience of DBFM tenders for large infrastructure projects'. Mark Birnage is advising the state of the Netherlands on the €550m Afsluitdijk sea defence PPP, which is the reconstruction of the largest sea defence in the Netherlands. Maarten van Rijn and senior associate Elisa Palm are two of the key practice members.

Simmons & Simmons

Simmons & Simmons offers 'a good combination of local (Benelux/Netherlands) and international (UK) experience' and 'in-depth knowledge and an efficient approach'. Luc Cohen heads the real estate and projects department and works with London-based finance specialist Andrew Petry along with Marieke Driessen and managing associate Andrea Chao. The team is advising German solar company PfalzSolar on various projects including financing matters and is also advising Eurus Energy Europe on the acquisition and development of an onshore wind farm which required corporate as well as finance advice.


David Orobio de Castro and Ingmar De Groot are the senior members of the team at Stibbe and are assisted by Martin In de Braekt who leads the energy and industry group. The team serves international and domestic clients in the banking, infrastructure, public transport, and technology sectors; it is acting for the Connect Rotterdam consortium as lenders' counsel in connection with its bid for the DBFM contract and also advised Syntus and its shareholder Keolis in connection with the tender of the concession and the purchase and financing of 16 trains. This complex matter involved finance structured as an 'off balance' operating lease. The practice also advised on the interest rate swap entered into in connection with the financing.


AKD serves government and corporate clients on the full range of PPP expertise including construction contracts, real estate, and finance matters. Marc Wintgens, who heads the practice, has a broad of range of finance and construction experience while Taco De Lange has a focus on finance and refinancing matters; he advised Ontwikkelbedrijf Greenport Venlo on all the real estate, construction, and finance issues with regard to the development of Greenport Venlo. The team also includes Julian Versmissen.


Houthoff handles the financing and refinancing of large infrastructure investments, including wind power projects. Practice head Jessica Terpstra divides her time between the London and Amsterdam offices and specialises in cross-border banking and finance including acquisition and structured finance and bilateral lending. She is leading the team advising the Corneel consortium in connection with the Afsluitdijk PFI project. Michel Klijn and Loet Venrooy are senior members of a team that advised the Standard Bank of South Africa in respect of the project finance and structuring of three solar power plants in South Africa.

Van Doorne

At Van Doorne, project finance is a core part of the real estate and projects practice. According to clients, 'what is different there from other law firms is that the work is absolutely reliable, nothing is forgotten'. The team acts for lenders, notably German banks, on a variety of developments including residential developments, retail outlets, hotels, and student housing. The 'outstandingAngelique Thiele and Roel Botter head the practice serving a client list which includes Deutsche Bank, GreenOak Real Estate, and McArthurGlen/ Simon Properties. Recent work highlight work included advising BerlinHyp as the lender in connection with the financing provided to ten SPVs, owned by Reggeborgh, an investment subsidiary of VolkerWessels.