Allen & Overy LLP fields a 'solution driven' team with 'industry expertise that is second to none'. It regularly acts as lenders’ and borrowers’ counsel on a wide range of project financing, project development, regulatory and real estate mandates. It is particularly noted for its depth in renewable energy, acting on (onshore and offshore) wind farm development, solar parks, geothermal, water, waste and biogas installations. Project finance expert Werner Runge and Zeeger de Jongh, who is a PPP specialist, are the key figures, they advise on renewable energy, data centre and hotel development projects, among others. Counsel Coen Thomas handles real estate financing and senior associates Grace McLeish and Soufjan El Baroudi provide additional support on energy financing.
Project finance and PFI in Netherlands
Allen & Overy LLP
Leon Hoppenbrouwers; Werner Runge; Zeeger de Jongh
Other key lawyers:
Coen Thomas; Grace McLeish; Soufjan El Baroudi; Koen de Wit
‘Great combination of execution power, in-depth knowledge and experience in PF, approachable and fun to work with.’
‘Grace McLeish (associate) / Werner Runge (partner) – great combination and happy to work with them on PF deals. ’
‘In-depth knowledge of energy transition and renewables. Proactive attitude to solve issues. Pleasant and clear communication skills.’
‘I acknowledge the skills and knowledge of Werner Runge and Coen Thomas. Both gentleman are very strong in solving difficult issues thanks to their extensive knowledge of the market. ’
‘Very experienced, give practical advice, fast, responsive. Good closers.’
‘Specific mention of Zeeger de Jong and Soufjan El Baroudi. Both excellent lawyers. Practical, smart, very good advisors.’
‘Pragmatic advice combined with strong legal knowledge. Get the deal done.’
‘Werner Runge and Koen de Wit are both sharp, practical, responsive, and very knowledgeable in the LMA practice ’
‘Solution driven team, industry expertise second to none, out of the box thinking skills on high level, broad team available to support transactions and ability to scale up quickly’
‘Werner Runge, extremely experienced in the sector, solution oriented and determined to find a good process outcome whilst strongly protecting his clients’ interests. good communicator, good in managing large groups of stakeholders into one direction
‘Zeeger de Jongh, good sector experience, strong negotiator and strong focus on achieving good outcome for his clients’
European Investment Bank
John Laing Investments
Landesbank Baden-Württemberg (LBBW)
Mitsubishi Corporation International (Europe) PLC
- Acting as lender’s counsel in respect of the financing of the development and operation by Sunvest of eight solar farms in the Netherlands, each to be financed individually.
- Acted as borrower’s counsel, for citizenM in respect of a €300m equity backed facility to be provided to the citizenM group for the financing of existing and new hotel developments.
- Sponsors’ counsel to A-Lanes A15 B.V. on the refinancing of the commercial facilities made available to it in connection with the A15 Road PPP Project.
Clifford Chance leverages its strong Dutch and English law capabilities to provide an 'unparalleled insight and a very commercial view on transactions'. Standout mandates include acting for Rabobank on the €500m project financing of Windpark Zeewolde and the development of the largest onshore wind farm in the Netherlands. The sizeable multi-disciplinary team also has a stellar reputation acting for lenders, sponsors and institutional investors in the energy sector. Hein Tonnaer is frequently supported by associate Mike Niekoop. Other key figures include Liesbeth Buiter, English-qualified Angela McEwen, counsel Nanette Rutgers and senior consultant Jaap Koster.
Hein Tonnaer; Liesbeth Buiter; Nanette Rutgers; Titus de Vries
Other key lawyers:
Mike Niekoop; Angela McEwen; Jaap Koster
‘Knowledge in the digital infrastructure space – thinking about novel structures in order to accommodate the fast growth profile in this space’
‘Hein Tonnaer – knowledgeable and people driven. Mike Niekoop – detail-driven, safe pair of hands, fast turn around’
‘Great track record in financing renewables, especially in NL market and aware of all relevant issues and ways to mitigate.’
‘Hein Tonnaer, very approachable, smart and flexible in finding ways to bring diverging interests together.’
‘Nanette Rutgers – very good work, grasp of details as well as keeping a focus on the big picture. Focused on improving the transaction for all parties involved and solution oriented. Next to that great people skills.’
‘Clifford Chance are market leaders in PF across Europe with unparalleled insight and a very commercial view on transactions. They can be trusted to ensure smooth execution of deals. The advice and diligence is thorough, but with a strong understanding of how deals are closed allowing for efficient negotiation’
‘Mike Niekoop – Mike responsive, diligent, commercial. He understands the finance market and is proactive in finding solutions to ensure transactions are moving towards close ’
‘A professional deal team with Project Finance subject matter experts. This team knows where the market is from a legal standpoint. They are involved in many project finance transactions. ’
‘Partner Hein Tonnaer and Associate Mike Niekoop can be considered subject matter experts, are professional up to the highest of standards and are readily available when needed. ’
‘Very knowledgeable and experienced industry team taking a pragmatic view on matters.’
‘Hein Tonnaer – solid lawyer, strong industry knowledge, pragmatic Liesbeth Bleeker – dedicated, thorough understanding of EPC contracts, customer oriented, no nonsense lawyer.’
the Nederlandse Waterschapsbank (NWB Bank)
Deutsche Bank AG
ABN AMRO Bank N.V.
ING Bank N.V.
Banco Santander S.A.
Triodos Groene Funds
NIBC Bank N.V
Sumitomo Mitsui Banking Corporation
FMO (NEDERLANDSE FINANCIERINGS-MAATSCHAPPIJ VOORONTWIKKELINGSLANDEN N.V.)
Blue Elephant Energy AG
- Advising EAIF and AfDB on the financing of the €305m New Owendo International Port in Gabon.
- Advising a group of lenders, consisting of ABN Amro Bank, ING Bank, Banco Santander, and Natixis. on the project financing of the EdgeConneX AMS04 data centre located near Schiphol Airport.
- Advising Eurus Energy and Yard Energy to construct, finance and operate three wind farms totalling 155MW in Groningen, the Netherlands.
The team at Norton Rose Fulbright is a recognised name for major PFI infrastructure projects, particularly those in the power and renewable energy sectors. The arrival of Anthony Pallett from Hogan Lovells (United Arab Emirates) LLP has further bolstered the practice's English and Dutch law and Islamic finance capabilities. Diederik Tijssen was appointed innovation manager, serving as a local contact to the offices in Germany and Paris and increasing access to the firm's innovation programme, NRF Transform, for both clients and internal teams. Wouter Hertzberger represents sponsors and lenders in the project financing and restructuring of oil and gas, renewables, road and port projects. Daphne Broerse is the go-to lawyer for corporations and governmental authorities for large-scale energy, infrastructure and commercial developments. Joris Ravelli and senior associate Ania Gorna are other names to note.
Other key lawyers:
Anthony Pallett; Diederik Tijssen; Daphne Broerse; Ania Gorna; Joris Ravelli
Ballast Nedam Concessies
Foresight Group LLP
Strukton Integrale Projecten
Zouk Capital LLP
- Advised the lenders of the winning consortium of the tender procedure of the DBFMO agreement for the design, construction, finance, maintenance and operation of a new accommodation project to be used by the National Institute for Public Health and Environment and the Agency of the Medicines Evaluation Board.
- Advised Rabobank on the construction of onshore windfarm Drentse Monden en Oostermoer, which consists of 45 wind turbines with a total installed capacity of 175.5MW.
- Advised the lenders to HES Hartel Tank Terminal on the financing arrangements and project documents (construction contracts, storage agreements and land lease agreements) for the realisation of a new tank terminal in the Port of Rotterdam.
AKD's real estate and project finance team is led by Eindhoven-based Marc Wintgens, an 'excellent PFI/PPP lawyer'. He has a very good market reputation for healthcare PPP projects, as a result of his involvement in Mobility PPP, the first PPP contract for parking and the Zuyderland Hospital PPP, the first-ever PPP in the healthcare sector in the Netherlands. Taco De Lange is active in real estate refinancing, as is Julian Versmissen.
Other key lawyers:
Julian Versmissen; Taco De Lange; Teije van Dijk
‘AKD has very good lawyers and have in-depth and thorough knowledge of PFI / PPP law and the PFI / PPP sector.’
‘ Marc Wintgens is an excellent PFI/PPP lawyer. He has a lot of experience, in-depth knowledge and excellent negotiation skills. He is very smart, creative and is a though leader on this field. Teije van Dijk is a strong PFI/PPP litigator who can act particularly well in large cases and projects. He is an excellent attorney and extremely practical. ’
‘Practice head and managing partner Marc Wintgens invariably manages to come up with solutions nobody had thought of. ’
Edge Technologies (former OVG)
Green Real estate
Development Company Greenport Venlo (DCGV)
- Advised VolkerWessels on all legal work with respect to the largest (re)development and PPP project in the Netherlands, Strijp S, comprising around 500,000 sq.m. on a former Philips Electronics site.
- Advising Erasmus Medical Centre on all legal aspects of the renovation and new development of the Eread Building (more than 100,000 sq. m.) and the Sophia Hospital.
- Advising Ontwikkelbedrijf Greenport Venlo on all real estate issues (e.g. lease, planning and zoning, transactions, construction, etc.) regarding the development and financing of Greenport Venlo, the biggest real estate project in the Netherlands in size.
Dentons has a highly reputable project and energy finance practice, and is sought out by major Dutch and international banks, as well as sponsors and corporate borrowers. The practice is renowned for its international capability; Jacqueline Bell and associate Holly Quirke provide advice from an English law perspective, alongside senior associate Todd Crosby, who joined from Vinson & Elkins RLLP. Marcel Janssen is a well known figure for renewable energy project financing and is involved in innovative projects including his advice to Stichting Groenfonds on the structuring and project financing for the greenfield development of a novel recycling plant to recycle HBCD containing polystyrene foams, as well as major wind farm and solar project developments. Senior associate Jack Schrijver is also noted for real estate and project finance.
Other key lawyers:
Jacqueline Bell; Todd Crosby; Holly Quirke; Jack Schrijver
‘Dentons has a sophisticated project finance practice. Very responsive and enthusiastic young team that likes to go the extra mile to get the deal done. Especially good understanding of and network in the Dutch renewable energy market with a proven track record working with local and international financiers ’
‘The open working relationship. Unbelievably quick response times to any questions and/or comments. Very nice ‘real’ people that do not put up a show but that are themselves in a relaxed way. Also when there is pressure on a deal.’
TBM Europe B.V.
- Advised Rabobank on an innovative €45m equity release financing structure for Solarfields.
- Advised BNG Bank on its senior project financing to TBM Vaarsenhof in relation to the development of Vaarsenhof biomass plant.
- Advising a leading investment bank on two separate transactions totalling to a €25m refinancing of two large biomass plants located in the Netherlands.
HabrakenRutten is lauded for its 'down to earth attitude and focus on delivering high-quality advice'. Active for borrowers and sponsors alike, the Rotterdam-based practice is led by name partner Peter Habraken, who often works alongside international firms to advise on the Dutch aspects of PPP project finance, including procurement and regulatory advice; design build finance maintain and operate contracts; and the structuring of consortia. Gérard Moussault advises on the full range of financing structures, as does Henk Raven.
Other key lawyers:
Gérard Moussault; Henk Raven
‘HabrakenRutten has a down to earth attitude and a focus on delivering high-quality advice.’
‘Henk Raven gives his client and other experts room to bring in their knowledge and he is capable to translate this input in clear, high quality advice and solid legal documents where complexity is reduced to its essence.’
Dutch Infrastructure Fund
- Advising SAA Consortium (VolkerWessels, Hochtief, Boskalis and Dutch Infrastructure Fund) on the refinancing of PPP A1-A6 project.
- Advising the lenders on the project financing of the A15 Motorway PPP project (in the Arnhem-Nijmegen region), as co-counsel with White & Case.
NautaDutilh's team is distinguished by its ability to handle a range of financing matters, including in the areas of real estate and city developments, energy and utilities, ranging from solar, onshore and off shore wind projects, fibre projects, to power plants. Rotterdam-based Jaco Belder and Erik Geerling represent both lenders, investors and development companies in long-term significant projects such as on the development of Feyenoord City, as part of the redevelopment in south Rotterdam. In the same office, Arjan Pors specialises in corporate lending and project finance, while in Amsterdam, David van Ee is a key name.
Jaco Belder; Erik Geerling; Arjan Pors; David van Ee
‘Both Erik Geerling and Jaco Belder are both deeply involved in my project and deliver outstanding services both on financial and legal questions that arise.’
‘Nauta Dutilh’s PPP/PFI team is unrivalled in the Dutch market. Having been on the forefront of many transactions and operational PPP/PFI projects, their in-depth legal, commercial knowledge, combined with the ability to challenge the technical and financial components of a transaction make them an invaluable member of any PPP/PFI team.’
‘I have predominantly worked with David van Ee who is the partner responsible for PPP/PFI consultancy in Nauta Dutilh’s team. His knowledge of public-private partnerships is unrivalled in the market and I would recommend his services to anybody active in the sector.’
Stadion Feijenoord N.V.
High Tech Campus Eindhoven
Sodexo Altys B.V.
- Acted for a syndicate of lenders, including KfW IPEX-Bank, MEAG Munich Ergo, Sumitomo Mitsui Banking Corporation and Nederlandse Waterschapsbank N.V., on the €1bn PPP A9 infrastructure project.
- Advised AES corporation on a highly complex $1.08bn transaction representing the first project bond issue and the first IPP refinancing in Vietnam.
- Assisting Stadion Feijenoord in connection with the development and construction of the new stadium for Feyenoord in Rotterdam, the Netherlands aiming to be opened in 2025.
Pels Rijcken & Droogleever Fortuijn NV is best known for its close relationship with the state of the Netherlands, advising on all its major PPP projects in infrastructure, energy and accommodation, such as the €750m Zeetoegang IJmond sea lock PPP, the Windpark Maasvlakte 2 wind farm project and the state’s accommodation, prison and court building PPP projects. It also has a strong regional presence, acting for public authorities throughout the country, as well as representing corporate clients, including Siemens and ProRail. It also extensively advises start-ups through its use of Pels Acceleration Lab, which offers legal and project development support to innovators from the private and public sectors. Mark Birnage spearheads the practice and is a recognised PPP expert.
‘Very high level of knowledge of project finance and PFI. They have the ability to make this knowledge understandable and practically applicable. They explain not only the letter of the law but also the spirit of the law if necessary’
‘Mark Birnage is practical and understandable for an engineer. He also gives very good and honest advice about our legal position.’
State of the Netherlands, Ministry of Infrastructure and Water Management, Rijkswaterstaat
State of the Netherlands, Ministry of the Interior, Central Government Real Estate Agency
State of the Netherlands, Ministry of Defence
Government of Aruba
Aruba Airport Authority
City of Amsterdam
City of Rotterdam
City of The Hague
Province of Noord-Holland
Province of Overijssel
Province of Gelderland
Province of Zuid-Holland
- Advising the Aruba Airport Authority on the tendering and execution of contracts for the $300m Gateway 2030 terminal expansion project.
- Advised the State on the tendering of the €850m Via15 road PPP project.
- Advised the joint project organisation of the state, the city of Amsterdam and ProRail on the termination of the construction contract for €1bn Zuidasdok project.
Stibbe's project finance practice focuses on infrastructure finance, particularly on projects involving renewable energy, waterways and public buildings. The group maintains a strong presence in PPP/PFI projects, demonstrated by practice head David Orobio de Castro, acting alongside Ingmar De Groot and Rein van Helden, to advise a mix of bank lenders and the EIB, on providing finance to BAAK Blankenburg-Verbinding in relation to the A24 Blankenburg connection project. Martin In de Braekt, head of the firm's energy and industry group, is another key name.
David Orobio de Castro
Other key lawyers:
Ingmar de Groot; Rein van Helden; Martin In de Braekt
European Investment Bank
- Advised Macquarie Capital, as sponsor of the project, on the tender, contracting and financial close of €1bn PPP Project A9 Badhoevedorp- Holendrecht.
- Counsel to the Water Board of Delfland as contracting authority in the design and setup of the tender, contracting, financing and refinancing of the Harnasch Polder Waste Water Treatment Plant (WWTP) PPP Project.
- Advised Heijmans on the financing and re-financing of the National Military Museum project, consisting of the design, build, finance, maintenance and operation of a new Military Museum and surrounding areas of approximately 500,000 square meters in Soesterberg, the Netherlands.
As part of its real estate finance department, Van Doorne fields a 'well-rounded, deeply skilled' team that predominantly acts for lenders on a wide variety of project finance and development finance transactions. Public sector financing is a key area of growth, particularly in relation to hospital financing, education and private financing in residential housing. In PPP/PFI projects, the team concentrates on infrastructure and urban renewal. Angelique Thiele divides her time between the firm's Amsterdam and London offices, 'providing excellent guidance and advice' on cross-border real estate and development finance. Roel Botter specialises in healthcare financing. Real estate partners Ariën van Heesen and Mark Moolhuizen are also of note.
Angelique Thiele; Roel Botter
Other key lawyers:
Ariën van Heesen; Mark Moolhuizen; Babette Vos
‘Hard work ethic, good advice also on the commercial side ’
‘Whole team is good, Angelique Thiele provides excellent guidance and advice.’
‘The team is highly professional and leadership in their specialty.’
‘We want our advisors to take the lead and guidance. To be better than others. Van Doorne’s team does that.’
‘Angelique Thiele and her staff are in our real estate (financing) field well known for their personal professional and open contact. Goal driven and thinking about solving legal issues, within agreed timeframes and quotes, instead of creating them.’
‘We have worked with Angelique Thiele and Babette Vos in numerous deals and projects (like standardizing termsheets and general terms) in which they always gave their open and honest professional informed feedback which brought us, as an organisation, further as well.’
‘Excellent finance team. Great connections in the real estate industry’
‘Client dedication. Top quality tailor made approach’
‘The team is well-rounded, deeply skilled and has worked with each other for a long time. They give you advice from a principal/owner perspective. ’
‘Great team of integrated real estate (finance) experience. On the structuring, legal documentation and notary side, two notable partners are Angelique Thiele and Arien van Heesen.’
PGIM Real Estate
Garbe Institutional Capital
- Acted for BentallGreenoak on a series of turnkey development financings for KKR-Mirastar.
- Acted for Deutsche Hypo in connection with a development loan and subsequent increase thereof provided for the Amsterdam Diamond Exchange (Diamantbeurs) a landmark monumental building in the city centre of Amsterdam.
- Acted for German institutional investor, Patrizia, on the acquisition and acquisition and redevelopment financing of B-Tower Rotterdam.
Bird & Bird has increased its market presence through the hire of Roger van Buuren, a project finance specialist with more than twenty years of private practice and in-house banking experience working with lenders and investors in all types of financings in renewable energy, particularly in solar (offshore and onshore) wind, battery storage and biomass, and infrastructure. He is regularly mandated by key client ABN Amro Bank on project financing transactions, where he is assisted by associate Franka van Buuren.
De Brauw Blackstone Westbroek has an extensive background acting for investors, sponsor companies, lenders, as well as public authorities on public-private joint ventures and the project financing of real estate, infrastructure and nuclear energy/renewables technology developments, including its advice to Pallas on the tender, construction, financing and regulatory aspects of a new state-of-the-art nuclear research reactor. Menno Stoffer specialises in corporate financing matters, particularly in the energy sector.
Port of Rotterdam
N.V. Nederlandse Gasunie
- Advising Schiphol Airport on the construction of a new pier and terminal building – the Capital Programme – adjacent to the existing buildings, as well as on the tendering process of multiple framework contracts for the maintenance and upgrading of Schiphol’s core infrastructure.
- Lead counsel in the Porthos Project, a ground-breaking and highly sensitive CCUS-project in the Rotterdam area, initiated by Port of Rotterdam, Gasunie and EBN.
- Acted for Gasunie, the Dutch state-owned energy network operator, on its negotiations with the European Investment Bank for a €240m loan agreement to be used for the construction of a nitrogen plant at Zuidbroek, the Netherlands.
DLA Piper's Amsterdam office, headed by Gerard Kneppers is recognised for its project finance work in renewables, particularly in solar energy, where the team is working alongside Coöperatieve Rabobank on financing the construction and operation of the Netherlands' largest solar park, Solar Park Vloeivelden Hollandia. Kneppers is the main figure for DFI-based lending, renewables and infrastructure financing transactions and is able to advise on Dutch, English and South African law.
Houthoff specialises in the financing and refinancing of large infrastructure investments, particularly in relation to wind power projects. Jessica Terpstra splits her practice between the firm's London and Amsterdam offices and is a key name for real estate financing and infrastructure project financing. Michel Klijn and Loet Venrooy are the key partners in the Rotterdam and Amsterdam offices, respectively.
Other key lawyers:
Michel Klijn; Loet Venrooy
‘Houthoff is an outstanding firm with a strong market knowledge and specialised teams for issues including structured finance, restructuring, corporate loans and regulatory compliance. For the Netherlands we believe they have few peers. They are very responsive, knowledgeable and have top rate partners who are commercially minded and able to see things from the clients’
‘I consider Jessica Terpstra an extremely good and clever lawyer providing accurate legal advice in an efficient and pragmatic way. Her broad knowledge of the sector makes her one of the most remarkable practitioners of the banking and finance sector in the Netherlands. ’
Begro Holding B.V.
Asbeter Holding B.V.
- Advised one of the sponsors of Windpark Fryslân, Begro Holding on the financing of the 382.7MW offshore wind turbine park named Windpark Fryslân comprising of 89 wind turbines in the Dutch province Fryslan.
- Advising Asbeter Holding B.V, a company focused on developing innovative technology with which asbestos can be chemically upcycled while CO2 emissions are simultaneously mitigated, on the project finance required to build a brand new factory for using the Asbeter technology.
Simmons & Simmons
Marieke Driessen heads the project finance department at Simmons & Simmons, specialising in the financing of PPP and PFI projects, including refinancing, alongside head of real estate and construction Luc Cohen, who also undertakes significant project development work. Andrea Chao has a varied practice, representing contractors, developers and lenders on PPP/PFI projects and assisting with tendering relating to infrastructure, offices, healthcare and renewables projects.
Luc Cohen; Marieke Driessen
Other key lawyers:
EAM Solar Group
90 North Real Estate Partners LLP
Meijer Realty Partners
Movement Real Estate / Van Deursen Group
ING Bank N.V.
- Advised German solar company PfalzSolar GmbH on the development of multiple rooftop and greenfield solar PV projects in the Netherlands.
- Advised Atream SAS on the acquisition on behalf of French institutional investors of approximately 340 cottages, 50 hotel apartments and the central facilities including public space in holiday park CenterParcs De Eemhof, located in Zeewolde, which also included assistance with an investment programme.
- Advised US investor Hines on the €116.5mn acquisition of business park ABC Westland.
Stek assists with the negotiating and drafting of finance and project documentation, often working alongside foreign firms and local counsel on multi-jurisdictional and domestic mid-market financing transactions. Biomass, solar and geotherm project financing are the main areas of activity. Key contacts Herman Wamelink and Sharon Kaufmann have 'extensive experience' in the sector. Reijnoud Homveld is also noted.
Herman Wamelink; Sharon Kaufmann; Reijnoud Homveld
Other key lawyers:
Katinka van den Brink
‘Well understanding of the position of the bank during negotiation processes. ’
‘I acknowledge Herman Wamelink for his appropriate knowledge and extensive experience and I appreciate Sharon Kaufmann for her positive energy and strong effort to make the best out of a transaction.’
‘A very knowledgeable and practical partner in lending transactions, hands-on and flexible. Top quality advice without the typical high fees, good value for money. ’
‘Sharon Kaufmann and Katinka van den Brink are very knowledgeable and experienced, excellent sparring partners. Manage to get to the essence in a great pile of information. Also great in time management, in case of short deadlines they deliver on time.’
ABN AMRO Bank N.V.
Amsterdams Klimaat & Energiefonds
ASN Bank N.V.
BNG Bank N.V.
Coöperatieve Rabobank U.A.
ING Bank N.V.
Limburgs Energie Fonds (LEF) B.V.
Nationale Nederlanden Investment Partners N.V.
Nederlandse Waterschapsbank N.V.
NIBC Bank N.V.
Triodos Bank N.V.
- Advising the lenders, ABN Amro, NIBC and Nationale Nederlanden Investment Partners, on the financing documentation and due diligence into a glassfibre cable network in the Netherlands.
- Advising BNG Bank on the financing of four wind parks of sponsor E-Connection on the Oosterschelde storm surge barrier with the Covid-19 virus coming up in the final stages of the process resulting in additional conditionality in the financing documentation
- Advising the lender, BNG Bank on the financing of the largest private solar plant in the Netherlands.