Firms To Watch: Projects and project finance

Bringing together expertise in public law, energy and infrastructure matters, the projects team at CTSU - Sociedade de Advogados, S.P., R.L., S.A., which is overseen by recent joiner Rita Ferreira dos Santos, is adept in project finance, PPPs, M&A, public procurement and regulatory matters.

Projects and project finance in Portugal


Singled out for its market-leading reputation in the project finance space in Portugal and abroad, Linklaters combines overarching finance and development expertise with comprehensive energy and infrastructure sector knowledge. The Lisbon-based group is sought out for its capabilities in large-scale projects and big-ticket transactions in the country, providing advice to sponsors, lenders and public entities in relation to project development and financings (through either bank lending or bond issuances), public tenders, structured M&A deals in the energy and infrastructure segments and cross-border mandates, with a special focus on Portuguese-speaking countries in Africa and increasingly Latin America. The firm is also well placed to assist lenders and export credit agencies in the application of international environmental and social standards in the context of project financings. Practice leader Francisco Ferraz De Carvalho has over two decades’ experience in this field; he is regularly retained by all types of market participants in a variety of energy projects, which often involve complex regulatory components. Maria de Athayde Tavares offers support to domestic and international companies and financial institutions in regulatory, environmental and public law issues relating to major projects and M&A in highly regulated sectors.

Practice head(s):

Francisco Ferraz de Carvalho

Other key lawyers:

Maria de Athayde Tavares; Laura Nunes Vicente; Teresa Novo Faria

Key clients

Nomura Financial Products Europe GMBH

Pontos Oy (Quinta da Ombria)


Marguerite Adviser S.A.

Vulcan Resources

Morgan Stanley Infrastructure Inc.

CRRC Tangshan Co., Ltd.

China Three Gorges Europe, S.A.

Banco Comercial Português, S.A.

Mozambique Rovuma Venture SpA

Work highlights

  • Advising CRRC Tangsthan Co. Ltd. on a complex negotiated procedure for the largest train purchase in Portuguese history launched by CP – Comboios de Portugal.
  • Acted for Bancolombia S.A., Fondo de Deuda Senior para Infraestructura en Colombia CAF-AM Ashmore I and Nomura Securities International, Inc. in relation to the project financing in Colombia for the PPP toll road project denominated Cambao-Manizales.
  • Advised MEAG on the financing of the construction and operation of a 444 MWp solar photo-voltaic portfolio in Portugal.

Morais Leitão, Galvão Teles, Soares da Silva & Associados

Best known for its impressive track record in project finance, Morais Leitão, Galvão Teles, Soares da Silva & Associados is one of the first ports of call for clients engaged in high-value and innovative transactions across all infrastructure and energy sectors, including solar, wind and hydropower, roads, railways, real estate, waste management, water and sanitation, among others. The group is well positioned to assist both financing entities and promoters throughout all phases of the design of a project in Portugal and abroad, such as those involving Portuguese-speaking jurisdictions in Africa. Chaired by Filipe Lowndes Marques, a project finance specialist who has worked on several market-leading projects, ranging from motorways, renewable energy, and LNG terminals, the practice is rated for ‘providing the highest standards of legal services‘. Consultant Cláudia Castanheira Dos Santos is seasoned in the financing of energy projects and road concessions; she demonstrates further strength in structured finance and real estate matters. The latter is an area of particular activity for Filipa Morais Alçada, a consultant who has a wealth of experience acting for both lenders and sponsors in renewable energy projects, PPPs and concessions in the transport, water and waste segments.

Practice head(s):

Filipe Lowndes Marques

Other key lawyers:

Cláudia Castanheira dos Santos; Filipa Morais Alçada; Luís Branco


‘ML distinguishes itself by providing the highest standards of legal services across a wide range of practice areas, based on a solid ethical conduct.’

‘Filipe Lowndes Marques, Luís Branco and Cláudia Castanheira dos Santos are differentiated by their ability to develop projects of outstanding complexity and size, within a framework of excellence, professionalism and dedication to the client.’


With ‘in-depth sectoral knowledge of energy and infrastructure‘, the projects group at PLMJ is often called upon by an array of domestic and international stakeholders looking for guidance in all steps of the financing and construction of consequential projects in the transport, healthcare and energy segments. Besides its strong credentials in local projects, the team is also often engaged in cross-border mandates, including those with links to Angola and Mozambique. Inês Pinto Da Costa brings together over 20 years’ experience in project finance, PPPs and development of industrial plants and infrastructure projects in Portugal and abroad, with a special emphasis on the Angolan market. She jointly heads up the practice with Maria Zagallo, a key contact for both public and private entities in all matters of public and administrative law, including concessions, public procurement and PPPs. João Marques Mendes, whose areas of expertise cover regulatory matters, contractual issues and project implementation, stands out for his wealth of experience in renewable energy and airport projects. Other noteworthy practitioners include Diogo Perestrelo, who undertakes M&A and projects work in the transport, energy, distribution and tourism segments, and Diogo Duarte Campos, who is seasoned in major construction and concession projects in Lusophone Africa.

Practice head(s):

Inês Pinto da Costa; Maria Zagallo

Other key lawyers:

Diogo Perestrelo; Diogo Duarte Campos; João Marques Mendes; Joana Brandão


‘In-depth sectoral knowledge of energy and infrastructure.’

‘Maria Zagallo and João Marques Mendes stand out.’

Key clients

Altri Group


Constructora San José

Eco Wave Power



TAP – Transportes Aéreos Portugueses, SGPS, S.A.


Davidson Kempner Capital Management LP (DK) and Pioneer Point Partners (PPP)

ReGa Energy


Energi Innovation



BP Group

Aer Rianta International

Cape Verde State

Work highlights

  • Advising Davidson Kempner Capital Management LP (DK) and Pioneer Point Partners (PPP) as sponsors for the START Campus of the Sines 4.0 Project, which involves an investment of up to €3.5bn to create data processing centres in Portugal.
  • Provided legal support to Galp in analysing regulatory issues regarding the implementation of the Green Pipeline Project, a pilot project for injection of green hydrogen into the gas distribution networks in Seixal, Portugal.
  • Assisting ReGa Energy in the structuring and implementation of a innovative project intended to produce renewable gases (green hydrogen, green oxygen and biomethane) from electrolysis with a renewable energy source.

Uría Menéndez – Proença Carvalho

Leveraging bench strength in banking and financing transactions, as well as across public law issues and regulated industries, Uría Menéndez – Proença Carvalho is well positioned to assist clients engaged in local and cross-border project finance, development and M&A deals in the infrastructure and energy spaces. Infrastructure operators, concessionaires, financiers, international funds and companies routinely seek the group’s assistance in major projects covering renewable energy and greenfield PPPs, as well as M&A deals involving regulated assets. The team is jointly led by two partners: the ‘remarkableBernardo Diniz de Ayala, who marries a wealth of experience in project finance with comprehensive knowledge of public law; and Antonio Villacampa, another name to note for project finance. Transport and energy are key sectoral focuses for João Louro e Costa, who is often engaged in cross-border transactions, while Gonçalo Andrade Sousa maintains a fairly broad practice, encompassing public procurement, M&A in highly-regulated industries, and project development and finance. Former practice head Pedro Ferreira Malaquias is no longer at the firm.

Practice head(s):

Bernardo Diniz de Ayala; Antonio Villacampa

Other key lawyers:

João Louro e Costa; Gonçalo Andrade e Sousa


‘Bernardo Diniz de Ayala is a remarkable lawyer.’

Key clients

Banco Santander Totta, S.A.

Iberdrola Renewables Portugal, S.A.

BlackRock Investment Management (UK) Ltd.


Axpo Iberia, S.L.

Banco Crédito Agrícola

AGS – Administração e Gestão de Sistemas de Salubridade, S.A

Bright Sunday AB

Work highlights

  • Assisting P2X Europe in all aspects related to the development and implementation of a “power-to-liquid” eFuels industrial project.
  • Advising Iberdrola Renewables on the development of eight solar photovoltaic power plants with an aggregate installed capacity of c.200MW.
  • Advising Iberdrola, S.A. on the acquisition from Prosolia of a majority stake in a company developing a 1,143 MW solar photovoltaic plant under an agreement with the Portuguese Transmission System Operator (REN).


At VdA, the infrastructure, energy and natural resources group possesses exceptional industry coverage and continues to advise Portuguese and foreign entities on the most sophisticated financing transactions and projects across the energy, airports, toll roads, ports, mining and sanitation sectors. Its impressive client roster features a host of sponsors, construction companies, operators, financiers, government agencies, and multilaterals, who regularly seek guidance throughout all stages of domestic and international projects. Recent areas of growth for the team include the refinancing and acquisition of energy projects and assets, as well as the renegotiation of PPP-like structures in the infrastructure and transport segments. Chairing the department, Manuel Protásio brings more than two decades worth of experience in project finance and M&A in the energy, mining and water sectors. Ana Luís de Sousa is best known for her capabilities in the development and implementation of energy projects, a sector in which Vanda Cascão is a key figure to note. Teresa Empis Falcão is also recommended for energy-related project finance and development. Oil and gas, mining and infrastructure projects in Africa are among João Afonso Fialho's core specialisms, while Paulo de Barros Baptista, a development expert, oversees work pertaining to the road sector.

Practice head(s):

Manuel Protásio

Other key lawyers:

Ana Luís de Sousa; João Afonso Fialho; Paulo de Barros Baptista; Teresa Empis Falcão; Vanda Cascão; José Miguel Oliveira; Ângela Viana

Key clients

AEBT – Auto-Estradas do Baixo Tejo, S.A.

Banco Santander Totta, S.A.

Brisa – Auto-Estradas de Portugal, S.A.

Brisal – Auto-Estradas do Litoral, S.A.

Finerge Group| Igneo Infrastructure Partners

Mota- Engil, Engenharia e Construção África, S.A.


Timor-Leste National Petroleum and Minerals Authority (ANPM)


Work highlights

  • Advised Brisal – Auto-Estradas do Litoral, S.A. and Brisa – Auto-Estradas de Portugal, S.A. on the refinancing and restructuring of the debt of Brisal.
  • Assisted Mota-Engil África in the public tender for the award of the concession, under a public-private partnership regime, of the design, construction, financing, operation and maintenance of toll motorways in Mozambique.
  • Assisting the Government of East Timor/ANPM in the negotiation with the Government of Australia and Greater Sunrise Joint Venture of the whole legal and contractual framework for the development of greater Sunrise fields (the largest LNG project in Southeast Asia).

Abreu Advogados

Abreu Advogados‘ multidisciplinary practice draws on partners from across the full-service firm to provide comprehensive coverage of projects matters in Portugal and Portuguese-speaking countries around the world. A particularly strong performer in multijurisdictional mandates, the group is primarily retained by public entities, sponsors, and companies from the energy and natural resources sectors, but is also well positioned to assist financing entities in project finance, public procurement and M&A transactions involving regulated assets. Among the names to note, Manuel de Andrade Neves is recognised for his broad expertise in public law and environmental matters; he is the go-to counsel for clients engaged in domestic and international projects in the water and renewable energy spaces. Ana Sofia Batista is seasoned in project finance, while Mafalda Teixeira de Abreu advises on PPPs and concession contracts in the transport and healthcare segments. The firm’s project finance capabilities, especially in the energy sector, were bolstered by the arrival of Bruno Azevedo Rodrigues and João Lupi from TELLES in November 2022. Former Uría Menéndez – Proença Carvalho's banking partner Pedro Ferreira Malaquias also joined in January 2023.

Practice head(s):

Bruno Azevedo Rodrigues; Mafalda Teixeira de Abreu

Other key lawyers:

Zara Jamal; Manuel Santos Vítor; Manuel de Andrade Neves; Ana Sofia Batista; João Lupi; Pedro Ferreira Malaquias

Key clients

Iberdrola Group

Chint Solar



ALSA/National Express

IDC – Industrial Development Corporation of South Africa

Patentes Talgo SLU


Copenhagen Offshore Partners


Projects lawyers at Cuatrecasas are commended for their ability to ‘combine in-depth knowledge with a commercial approach‘. The interdisciplinary team brings together expertise in banking and finance, public procurement, and corporate transactions, making it a popular destination for domestic and international clients – such as investment funds, sponsors, and financial entities – seeking advice on all phases of energy and infrastructure projects, from structuring to implementation. The team stands out for its activity in the roads and railway sectors, but also fields further strength in project mandates in the ports, social infrastructure, water and renewables segments. The department is under the leadership of four practitioners: senior partner Maria João Ricou, finance specialist Manuel Requicha Ferreira, public law expert Lourenço Vilhena De Freitas and Margarida Leal Oliveira, the latter of whom is the main point of contact for major projects in Portugal and abroad, including PPPs in the transport, healthcare and renewable energy spaces. Associate João Sequeira Sena offers key support in matters involving public works, administrative law and arbitral proceedings.

Practice head(s):

Maria João Ricou; Manuel Requicha Ferreira; Lourenço Vilhena De Freitas; Margarida Leal Oliveira

Other key lawyers:

João Sequeira Sena; Telma Carvalho


‘I would like to mention Telma Carvalho, who has a holistic view of the company’s needs and manages to combine team management with what she knows is important to us in various areas, including projects. Telma Carvalho is dedicated, attentive and proactive.’

‘Margarida Leal de Oliveira is a great lawyer. She is very available and knows the clients’ needs well.’

‘The team of Cuatrecasas is always there. No matter the expertise needed or the demanding deadlines. They combine in-depth knowledge with a commercial approach.’

Key clients

DP world

Cross Ocean Partners

Transdev group

Auto-Estradas do Atlântico – concessões rodoviárias de Portugal

Iridium Concessiones de Infraestructuras (iridium)


Autoestrada do Algarve – via do infante – sociedade concessionária

CP – comboios de Portugal EPE

Portugal Renewable Energy – PTRW (Iberwind Group)

Strongeagle Mozambique Fund

IFC (International Finance Corporation)

Infrared Capital Partners Limited

Cintra Concesiones de Infraestructuras

E. M. Public Works Management of Porto Council (Go Porto)

Municipality of Porto


CLH – Compañía Logística de Hidrocarburos

Work highlights

  • Advising Iridium, as shareholder of the concessionaire ELOS – Ligações de Alta Velocidade, S.A, on all legal issues related to the acceleration of the concessionaire’s debt and the enforcement of the arbitral award against the grantor.
  • Advising Group Transdev on the international public tender for procurement of road passenger transport service in the Porto metropolitan area.
  • Advising Cross Ocean Partners on issues related to the debt restructuring and relations between the client and the toll road concessionaire AEDL – Auto-Estradas do Douro Litoral.


Led by Nuno Azevedo Neves, DLA Piper ABBC's projects team acts for a predominantly international client base, comprised of companies from the infrastructure, energy, real estate and financial services sectors. Besides its ability to advise both lenders and sponsors on all aspects regarding the structuring, financing, construction and operation of a project in Portugal, the team is also well versed in international mandates, most notably project finance in Portuguese-speaking countries in Africa. Energy - particularly solar power - is a strong point for the department, whose broad service offering also covers M&A involving regulated assets. With a broad practice encompassing transactional and regulatory matters, Gonçalo Castro Ribeiro stands out for his experience in the financing of renewable projects.

Practice head(s):

Nuno Azevedo Neves

Other key lawyers:

Gonçalo Castro Ribeiro; Nuno Castelo Branco

Sérvulo & Associados

A leader in the public law space, Sérvulo & Associados ‘combines solid technical and theoretical knowledge‘ ‘with extensive practical experience‘ of acting for both public and private sector clients on the administrative side of large-scale projects. With a loyal following of public entities seeking advice on PPPs, concessions and public work contracts, the practice is particularly skilled in projects in the water and waste, energy, transport and healthcare segments. Benefitting from the relationships it has been building around the globe through its network SÉRVULO LATITUDE⦵, the firm has been increasingly engaged by development banks and foreign aid agencies in relation to international mandates, including projects in Mozambique, Cape Verde, São Tomé e Príncipe and – more recently – Tanzania. Focusing on the areas of public procurement and administrative litigation, Mark Kirkby chairs the department with Ana Luísa Guimarães, who became an equity partner in September 2021, and Francisca Mendes da Costa. Guimarães is skilled in PPPs, concessions and projects in the mobility and energy sectors, while fellow co-leader Mendes da Costa is a key contact for multijurisdictional matters.

Practice head(s):

Mark Kirkby; Ana Luísa Guimarães; Francisca Mendes da Costa


‘Sérvulo e Associados stands out for its corporate awareness of the need to invest in learning, in transforming information into knowledge, in knowledge sharing, namely through the training it promotes whenever there is change and/or new legislation.’

‘Despite all the team members being of exemplary professionalism, I would recommend Mark Kirkby for the knowledge he demonstrates about the matters that are put to him, for his availability and involvement in dealing with them and for the sense of responsibility and seriousness he conveys to us.’

‘Sérvulo e Associados demonstrated that it combines solid technical and theoretical knowledge of the subjects in question, with extensive practical experience and sensitivity to the specifics of our project. It clearly stands out from other law firms due to the legal quality of the service provided and the ability to present solutions tailored to the client’s particular needs.’

‘Ana Luísa Guimarães has always shown great availability to accompany us, ensuring a quick response to all requests and meeting the requests that were addressed to her in a very competent manner. She was always very proactive in her relationship with us, seeking to know and provide legal advice according to the company’s business needs.’

‘They are full-time professionals and a true business partner, always with assertive advice and a broad legal vision and receptive to technological innovation.’

Key clients

Government of Mozambique

World Bank

European Commission – DG MOVE

Sociedade de Desenvolvimento da Ponta do Oeste, S.A.

APRAM – Administração dos Portos da Região Autónoma da Madeira, S.A.

Lusíadas Saúde Group

Boat Center S.A.

Metropolitan Area of Lisbon (AML)

TML – Metropolitan Transports of Lisbon

Metropolitan Area of Oporto (AMP)

Intermunicipal community of Região de Coimbra (CIM Região de Coimbra)

Intermunicipal community of Região de Aveiro (CIM Região de Aveiro)

Intermunicipal community of Cávado (CIM Cávado)

Intermunicipal community of Alto Tâmega (CIM AT)

Intermunicipal community of Terras de Trás-os-Montes (CIM TTM)

Municipality of Portimão

Intermunicipal community of Região de Viseu Dão Lafões (CIM Viseu Dão Lafões)

FCC Aqualia

AINTAR (Association of Municipalities for the intermunicipal sanitation system)

Work highlights

  • Selected by the Government of Mozambique, within the scope of an international tender, to provide consulting services on the Legal Revision of the Investment Law, a project funded by the World Bank.
  • Was the legal partner of a Joint Venture selected by the World Bank to assess the viability of setting up an intermunicipal cooperation model for solid waste management (SWM) in Dar es Salaam, Tanzania.
  • Forms part of a Joint Venture (Tetra Tech International Development Sp. z o.o and TISPT – Consultores em Transportes, Inovação e Sistemas, S.A.) hired by European Commission (DG MOVE) in relation to an assignment that consists of an impact assessment support study (Interim and Final Reports) for a possible revision of the Air Services Regulation (Regulation (EC) No 1008/2008) by the European Commission (DG MOVE).

SRS Legal

Showcasing experience in both the implementation and financing of projects in Portugal and Africa, SRS Legal is seen with great regularity advising on concessions, PPPs and privatisations in the transport sector. International and domestic clients - including public entities and the Portuguese Government - turn to the team on a recurrent basis for assistance in all issues related to energy projects, encompassing the power, gas and renewables segments. M&A transactions involving regulated assets and contentious matters are other areas of activity for the firm, which draws on its great national coverage and international network to provide comprehensive advice on domestic and cross-border mandates. Co-head José Luís Moreira da Silva specialises in energy, infrastructure and transport projects, advising on concessions, arbitration and procurement, while fellow co-leader Alexandra Valente is the name to note for project finance and private equity transactions. Alexandre Roque stands out for his knowledge of public law; his areas of focus cover public procurement and administrative litigation.

Practice head(s):

José Luís Moreira da Silva; Alexandra Valente

Other key lawyers:

Alexandre Roque; Raquel Sampaio


‘Availability, differentiated support, confidence in the quality of work.’

‘ José Luis Moreira da Silva – availability and knowledge.’

Key clients


Government of Portugal / Parpublica

Port Authority of Lisbon (main Portuguese port)

Regional Government of Madeira

Municipality of Oporto

TM.E. S.p.A. – Termomeccanica Ecologia

Port Authority of Setúbal and Sesimbra (Portuguese port)

Thales Portugal, S.A.


European Commission

FPT Energia Group

Linderito Solar

Rubis Energia Portugal, S.A.

BCI Mozambique


Work highlights

  • Advising PARPUBLICA on the reprivatisation procedure of EFACEC that was nationalised by the Government in July 2020 in order to maintain its industrial capacity but with the intent of the Government not keeping it in the public sphere for long.
  • Advising the LISBON PORT AUTHORITY on the renegotiation of the Liscont Container Terminal, the largest in Lisbon, and one of the largest in Portugal.
  • Assisting the European Commission in a project for the development and implementation of a pipeline of energy-efficient based investments (public and private) through the bundling of small-medium sized projects.

Albuquerque & Almeida

A popular choice for clients with relevant activity in the ports sector, Albuquerque & Almeida attracts instructions from domestic and international companies in project finance and public law-related matters. Advising on port, shipyards and logistic concessions are core areas of activity for the department, which is also sought out for its experience in tenders for the operation of maritime transport of passengers and cargo, and investments into Portuguese-speaking countries in Africa. Department leader Alexandre De Albuquerque specialises in public law, receiving key support from Diana Silveira, a point of contact for public entities and maritime players.

Practice head(s):

Alexandre de Albuquerque

Other key lawyers:

Diana Silveira


‘This firm has a capacity and quality of service far above average, due to a deep knowledge, on the part of its team members, of the matters in question, as well as their enormous commitment to the client.’

‘Alexandre de Albuquerque and Diana Silveira stand out for their knowledge of subjects and themes; quick response; in-depth knowledge of the applicable legislation; sympathy and entropy with the technicians involved in the projects; total availability; great sense of responsibility (deadlines, etc.) and involvement in projects.’

Key clients

ETE Group

Bondalti Group

Setefrete Group

Ingesport Health and Spa Consulting, S.A.

Factory GmbH

Work highlights

  • Advised CV Interilhas, the concessionaire of the maritime transportation of passengers and cargo in Cape Verde who was awarded the concession for 20 years of the inter-island maritime transport of cargo and passengers in the country, on the financing of the project and execution of the contract.
  • Assisting Bondalti Group in various projects.
  • Assisting multiple concessionaires of port concessions in Portugal, such as TCGL – Terminal de Carga Geral e de Granéis de Leixões, SA, ETE – Empresa de Tráfego e Estiva, SA, and Tersado – Terminais Portuários do Sado, S.A., in the renewal of their concession contracts with the Port Authorities.


The 'very dedicated' projects and infrastructure team at CMS is singled out for its 'professionalism, work capacity and efficiency'. Focused on transactional work involving infrastructure and energy projects, the group regularly acts for large companies and lenders seeking legal guidance in the financing and development of projects in Portugal and abroad. Noted for its experience in mandates involving Lusophone Africa, the team is often seen advising on projects in the renewables segment - including the financing of wind farms and solar plants - and in the Portuguese transport sector. António Payan Martins, a finance specialist, has recently led several project finance matters involving Angola. Alberto Galhardo Simões is further highlighted for his experience in Africa; he assists multilaterals, construction companies and financial institutions throughout all stages of a project. Mónica Carneiro Pacheco is a reference in the energy market; she brings together strong regulatory expertise and wide knowledge of financing agreements.

Practice head(s):

António Payan Martins

Other key lawyers:

Alberto Galhardo Simões; Mónica Carneiro Pacheco; Joana Brito Paulo


‘The Projects team reveals a strong knowledge of the sector. Through its international network of offices, they are able to handle multi-jurisdictional issues whenever they arise.’

‘Mónica Carneiro Pacheco is fully available to address relevant issues, always presenting solidly based solutions that represent added value for the client.’

‘The CMS project team is very dedicated, presenting a high level of legal quality, professionalism, work capacity and efficiency. The work carried out by this team demonstrates and reflects the legal and business knowledge of its members, presenting objective, efficient and clear solutions, indicating risks and pointing out alternatives, always working and in collaboration with clients in order to find the best solutions for the problems posed and in a very structured way.’

‘The entire team that works under Mónica Carneiro Pacheco stands out for its professionalism, dedication, quality of work presented, efficiency and trust.’

‘Very complete team, with broad competences. They work very closely and are able to promote decisions and understandings very quickly.’

‘Mónica Carneiro Pacheco – high reference in the sector in Portugal. She has unparalleled knowledge of the legislation, the players and the market. Assertiveness and objectivity.’

Key clients

Sun Africa LLC


ANA – Aeroportos de Portugal

VINCI Airports

Caixa de Crédito Agrícola

Work highlights

  • Advised Sun Africa on a project to design, finance, build and operate seven solar power plants in Angola.
  • Acted EDP in the winning arbitration proceeding against the Portuguese State related to the Fridão Hydropower Plant.
  • Assisted Vinci Airports in the project finance, drafting and negotiation regarding the Concessionaire’s Alternative to the Cape Verde Airport.

Gómez-Acebo & Pombo

Gómez-Acebo & Pombo's clients highlight the team's skills in energy projects as a key differential in the market. Administrative law specialist Ricardo Campos and banking and finance partner Mafalda Barreto steer the group on a range of domestic and cross-border project mandates, including public infrastructure contracts, construction of energy plants and real estate developments. Senior associate Luísa Carrilho da Graça, a contact for energy clients, takes the lead on sector-related transactions while Sofia Rodrigues Nunes is singled out for her knowledge of the real estate space, with a particular focus on urban planning.

Practice head(s):

Ricardo Campos; Mafalda Barreto

Other key lawyers:

Luísa Carrilho da Graça; Sofia Rodrigues Nunes


‘Gómez-Acebo & Pombo is a reference law firm in matters of energy in Portugal. Among its strengths, preferential access to the Administration / the regulator stands out, which is highly relevant in a regulated sector. Likewise, the degree of “seniority” of the teams is high. They show great empathy with the client and are always available.’

‘Luisa Carrilho da Graça is recommended.’

Key clients

Construções Gabriel A.S. Couto

Acciona Construcción

Dos Grados Capital

Foresight Group

Teixeira Duarte, S.A., Bento Pedroso Construções, S.A., Zagope, S.A, and Alves Ribeiro, S.A

Work highlights

  • Assisted Construções Gabriel A.S. Couto regarding the design and build Contract for “DISEÑO MÁS CONSTRUCCIÓN DEL CRUCE FRONTERIZO EL AMATILLO, DEPARTAMENTO DE LA UNIÓN (Edificaciones y Tecnologías)”, in El Salvador, Central America.
  • Advised Acciona Construcción on the public contract for the construction of the new headquarters of Oeiras City Hall.
  • Assisted Dos Grados Capital in connection with the ongoing development of a 110 MW solar PV project in Fundão, Portugal.

Raposo Bernardo

Clients praise Raposo Bernardo for its ‘deep knowledge of the legal framework, and ‘unique and differentiated service‘ it offers in the fields of project finance and development. Portuguese and international lenders, promotors, contractors and engineering companies turn to the team for assistance in the spectrum of infrastructure and energy projects. Joana Andrade Correia and Nelson Raposo Bernardo, the latter of whom ‘excels in all the areas necessary to master a project‘, jointly oversee the group.

Practice head(s):

Nelson Raposo Bernardo; Joana Andrade Correia


‘The quality of services provided by Raposo Bernardo is the best I know in the area of Projects, its capabilities are very wide, with emphasis on the technical and legal domain, the ability to respond immediately to requests and questions that we ask, the ability to create a multidisciplinary task force from one moment to the next, availability 24 hours a day, 7 days a week, the general brilliance of the team and pragmatism which are the key to any project in Portugal and abroad.’

‘Nelson Raposo Bernardo knows everything there is to know about projects, is extremely rigorous in the advice he gives, and brilliant in identifying possible ways forward.’

‘The skills that make Raposo Bernardo strong in this area are: the vast legal knowledge of the team; they know how a Project is conceived and developed; anticipate and solve the problems normally associated with each component.’

‘In a team that is cohesive and works like clockwork, there must always be a commander. And that’s what happens with Nelson Raposo Bernardo. Nelson is full of charisma and qualities, he has everything we hope the ideal lawyer to work on projects has. He excels in all the areas necessary to master a project from A to Z.’

‘The degree of collaboration that I regularly see between the lawyers on the team is almost contagious and a great example, which brings us enormous benefits as a client, with concrete results and an excellent quality-cost ratio.’

‘Raposo Bernardo has provided a unique and differentiated service, as it has a deep knowledge of the legal framework, a lot of practical experience and are permanently updated. This attitude allows it to provide a highly competitive, safe, pragmatic and solution-oriented legal service that is truly what matters.’ 

‘Nelson Bernardo has been extremely skilful in negotiating our projects.’

‘Quality of the answers – in terms of scope and depth-, the technical knowledge of the projects, the ability to interrelate all the necessary legal areas and components, and the experience of many years in this area.’

Work highlights

  • Advising a client on a preliminary phase of an airport infrastructure project.
  • Assisting a client in a project for the extension and renovation of a highway through Public–Private Partnership (PPP) and project finance.
  • Advising a client on the financing of a project for the exploration of water concession in twelve northern municipalities and management of solid waste in those same municipalities.

RRP Advogados

At RRP Advogados, the banking and projects practice has a strong track record in project finance, regularly acting for banks, funds, public entities and international investors active in the railway, construction, telecoms, real estate and energy sectors. Praised for its ‘excellent skills to manage negotiations and counterparties‘, the team manages a busy work flow that, besides financing agreements, is populated by several regulatory and transactional mandates involving Portugal and other jurisdictions, such as Portuguese-speaking countries in Africa. Showcasing extensive ‘technical and commercial knowledge’ of projects and financing deals, Carlos Vaz De Almeida leads the practice. Other noteworthy individuals include senior associate Francisco Bessa de Carvalho, who specialises in projects contracts, and associate José Manuel Alves, whose experience in both project finance and structuring is widely highlighted by clients.

Practice head(s):

Carlos Vaz de Almeida

Other key lawyers:

Francisco Bessa de Carvalho; José Manuel Alves


‘RRP’s team were incredibly fast in understanding the key (very technical) issues of the project we presented to them and this was just based on very confusing information provided from various suppliers. Collaboration with RRP was a dream as they were able and more than comfortable to also lead negotiation rounds with the different parties on our behalf whilst always keeping the feel of neutrality and professionalism towards other parties which made negotiations quite easy going. Carlos Almeida and José Manual Alves are incredibly responsive and committed.’

‘A very strong team from a technical point of view, which combined with its knowledge of the market and commercial approach make it a great choice. This is particularly visible in the preparation and negotiation of project contracts, namely EPCs and PPAs. Also noteworthy is the enormous availability and speed of response, particularly from the partner in the department.  Excellent skills to manage negotiations and counterparties, namely to manage conflicts.’

‘Carlos Vaz de Almeida – conveys a lot of confidence in the advice he provides, both in terms of reasoning and clarity of exposition; maintains serenity in complex and stressful situations; manages business processes very well, often taking their lead. José Manuel Alves – despite his seniority, he shows a lot of maturity and good technical skills. Extremely rigorous at work and available.’

Key clients

World Bank

MSC Mediterranean Shipping Company, S.A. (MSC Group)

Government of Angola


Alpha Trains

Medway Group (Transport & Logistics)

Legendre Group

Mitiska REIM

Krest Investments



Work highlights

  • Assisting MSC Mediterranean Shipping Company Group and Medway in a green financing in the railway segment that combined project and asset finance.
  • Advised Blackrock on the drafting, negotiation and execution of a power purchase agreement entered into between one of Blackrock’s subsidiaries and Axpo Iberia in Portugal.
  • Assisted the World Bank, which is supporting the Government of Angola in the implementation of reforms in the field of public private partnerships, in the context of the Chicapa II hydropower project.