Trinity International LLP > London, England > Firm Profile

Trinity International LLP
30 Crown Place
LONDON
EC2A 4EB
England

Industry focus > Emerging markets Tier 3

Trinity International LLP is 'a clear market expert when it comes to Africa, having an ear to the ground and footprint on the pulse'. The firm specialises in corporate and finance transactions in emerging markets. and its mission is to play a role in improving access to power and basic infrastructure. It frequently advises European, African and North American banks and DFI’s on project finance, acquisition finance, corporate finance and financial institution lending. Founding partners Paul Biggs and Simon Norris (who is 'a phenomenal lawyer and a great project manager'), head of corporate Conrad Marais and project finance partner Kaushik Ray are the key practitioners. Ray served as borrower's counsel on the development of a $30m 7.5MW solar PV project in Mubuga in Burundi, the country's first solar IPP. Other key members of the team include Fiona Gulliford  , who also has extensive experience in  power and water projects, and senior associate Jo Sykes .

Practice head(s):

Paul Biggs; Simon Norris; Kaushik Ray; Conrad Marais

Other key lawyers:

Jo Sykes; Fiona Gulliford

Testimonials

‘Trinity is a clear market expert when it comes to Africa, having an ear to the ground and footprint on the pulse. We have engaged the team in numerous mandates and their market knowledge, commercial focus and subject and jurisdiction matter expertise is exemplary.’

‘Fiona Gulliford – always present and available and has answers where they are not readily available (as is the case in most of our issues given the nascent market in which we operate). She is willing to go the extra mile in order to understand the issue and lean on colleagues to ensure that we receive the best and most commercially practicable advice possible.’

‘The Trinity model and team are quite unique in our experience – a small, senior team led by partners that provides excellent advice and service with a commercial approach and competitive pricing.’

‘Simon Norris is a phenomenal lawyer and a great project manager. He has assisted me in co-managing the development of the project. He is smart, hard working, prompt and always goes beyond the call of duty.’

‘Excellent advice from an experienced senior team, coupled with availability and responsiveness and a commercial approach.’

‘Trinity is unique. Their fee structure enables developers to develop projects in risky jurisdictions, If it was not for them we would not have been able to finance our project in Sierra Leone. Given the amount of risk they take as a firm, they tend to be more involved in the development stage of the transaction and actually act as codevelopers, where they bring immense knowledge to the table. I see them as the go to firm in Africa.’

‘They have fantastic response times, they have never let us down when we have requested anything of them. Trinity has been more involved than any other law firm I know in Africa and they have probably brought more projects to financial close than any other firm. Their knowledge of the industry and the continent are unparalleled. We would never look to work with any other firm.’

Key clients

KPMG (as head of a consortium instructed by EBRD acting for the Kazakhstan Government)

Gigawatt Global

Inspired Evolution

Renewable Energy Performance Platform

Asian Development Bank

KfW

Government of Mozambique

Government of Zambia

Government of Uganda

Scatec Solar ASA

GED (Group Européen de Development du Congo)

Proparco

The African Trade Insurance Agency

IFC

Work highlights

  • Acting for ATI and KfW in relation to the enhancement and expansion of the Renewable Liquidity Support Facility – an innovative initiative that has already assisted many renewable power projects in Sub-Saharan Africa to reach financial close by providing an ATI backed letter of credit to project company counterparties under power purchase agreements to support the payment obligations of offtakers in certain approved Sub-Saharan countries.
  • Advising the Asian Development Bank, mandated by the Government of Uzbekistan (Ministry of Energy and Ministry of Investments and Foreign Trade to advise on the structuring and implementation of a design, build, finance, own, operate, maintain, and transfer or decommission solar photovoltaic power plant of a maximum capacity of 300 MWac to be situated in the Guzar district of the Kashkadarya region of the Republic of Uzbekistan.
  • Acting as International legal adviser to a consortium which is headed by KPMG Kazakhstan to advise EBRD and the Ministry of Health in Kazakhstan in respect of the tendering, development, construction and financing of the Almaty Training Hospital in Kazakhstan on a PPP basis.

Projects, energy and natural resources > Power (including electricity, nuclear and renewables) Tier 3

Boutique firm Trinity International LLP has an off-grid power practice which focuses on financing solutions and commercial structuring of off-grid power projects. The firm is known for its primary market presence in Africa where it advises on all types of transactions from solar, wind and geothermal to gas-powered plants and nuclear. Paul Biggs  has expertise in private and public sector infrastructure projects and co-heads the practice with Simon Norris who advises developers, investors and financial institutions. Other co-head Kaushik Ray covers project and corporate finance transactions. Conrad Marais is a key contact in the team.

Practice head(s):

Paul Biggs; Simon Norris; Kaushik Ray; Conrad Marais

Testimonials

‘Trinity is a clear market expert when it comes to Africa, having an ear to the ground and footprint on the pulse. We have engaged the team in numerous mandates and their market knowledge, commercial focus and subject and jurisdiction matter expertise is exemplary.’

‘Well respected in the industry.’

‘Very practical approach and always available.’

‘The Trinity model and team are quite unique in our experience – a small, senior team led by partners that provides excellent advice and service with a commercial approach and competitive pricing.’

‘Excellent advice from an experienced senior team, coupled with availability and responsiveness and a commercial approach.’

‘Trinity is unique. Their fee structure enables developers to develop projects in risky jurisdictions, If it was not for them we would not have been able to finance our projects. Given the amount of risk they take as a firm, they tend to be more involved in the development stage of the transaction and actually act as codevelopers, where they bring immense knowledge to the table. I see them as the go to firm in Africa.’

‘Simon Norris is a phenomenal lawyer and a great project manager. He has assisted me in co-managing the development of the project. He is smart, hard working, prompt and always goes beyond the call of duty.’

Key clients

Tulu Moye Geothermal Limited

IFC

Asian Development Bank

The Standard Bank of South Africa

Gigawatt Global

Nedbank Limited

The Development Bank of Southern Africa

Absa Bank Ghana Limited

Absa Bank (Mauritius) Limited

Société Générale S.A.

Société Générale Ghana plc

The Mauritius Commercial Bank Limited

Ninety One SA Proprietary Limited

Ninety One Assurance Limited

Ninety One Africa Credit Opportunities Fund 2

Inspired Evolution

Renewable Energy Performance Platform

Scatec Solar ASA

KfW

Government of Mozambique

Government of Zambia

Government of Uganda

African Development Bank

The Standard Bank of South Africa Limited

Nedbank Limited

European Investment Bank

FMO

Proparco

DEG

Trade and Development Bank

East African Development Bank

Eksport Kredit Fonden

The African Trade Insurance Agency

Seychelles Energy Commission

Work highlights

  • Acted for the project company on the US$1 billion Tulu Moye geothermal IPP in Ethiopia.
  • Advised IFC in relation to the creation and structuring of a programme, designed to allow mini-grids in African markets to be financed by private debt financiers in order to add much-needed scale to mini-grid development on the African continent.
  • Acted for the Seychelles Energy Commission and the Government of Seychelles in respect of the first ever private power project in Seychelles and Africa’s first floating solar IPP’s on sea water.

Projects, energy and natural resources > Infrastructure Tier 4

Boutique emerging markets firm Trinity International LLP advises a range of public and private sector clients on infrastructure transactions, with considerable experience of projects in the African continent. The team is led by Paul Biggs, Simon Norris, Kaushik Ray and Conrad Marias . Jo Sykes was recently promoted to partner.

Practice head(s):

Paul Biggs; Simon Norris; Kaushik Ray; Conrad Marais

Other key lawyers:

Lucy Johnson; Elizabeth Handley; Jo Sykes

Testimonials

‘Trinity is a growing but still relatively small firm that is steeped in African infrastructure projects’.

‘They have first-rate lawyers, many having previously worked in top-tier firms, who stand out from others because of their unparalleled experience of sub-Saharan African infrastructure projects’.

‘The size of the firm enables them to keep costs down’.

‘Highly competent legal advice on project finance and project management at very reasonable prices’.

‘Kaushik Ray and Jo Sykes (who recently received a well-deserved promotion to partner) are the dream team for financing development projects’.

‘As a lender, you will be very pleased to have them on your team, but also to have them acting for sponsors because they know what lenders will and won’t give on, and so help to speed up the negotiation process’.

‘They don’t just give great legal advice; they also ensure you get great service from local counsel and a very polished and well managed process which saves time and costs’.

‘Simon Norris is up there with the best of them when it comes to analysis on the project documents side’.

Key clients

KPMG (as head of a consortium instructed by EBRD acting for the Kazakhstan Government)

GED (Group Européen de Development du Congo)

Cenpower Generation Company Limited

KfW

Government of Mozambique

Government of Zambia

Government of Uganda

The African Trade Insurance Agency

IFC

IV3A

Atlantic Terminal Services Limited (ATSL)

Scatec Solar ASA

Asian Development Bank

Work highlights

  • Currently advising IFC in relation to the creation and structuring of a programme designed to allow mini-grids in African markets to be financed by private debt financiers in order to add much-needed scale to mini-grid development on the African continent – through upscaling portfolios of mini-grids in underserved areas, and creating a standardised set of documents for off-grid distributed solar power.
  • Acting as international legal adviser to a consortium which is headed by KPMG Kazakhstan to advise EBRD and the Ministry of Health in Kazakhstan in respect of the tendering, development, construction and financing of the Almaty Training Hospital in Kazakhstan on a PPP basis.
  • Worked with The African Trade Insurance Agency and KfW in the enhancement and expansion of the Renewable Liquidity Support Facility – an innovative initiative that has already assisted many renewable power projects in sub-Saharan Africa to reach financial close.

Mozambique > Foreign law firms Tier 3

Boutique firm Trinity International LLP occupies a niche in Mozambique-facing work, advising on corporate and finance transactions in the energy and infrastructure sectors. Founding partner and power projects expert Simon Norris regularly advises developers, investors and financial institutions. Paul Biggs and Kaushik Ray also co-lead the team.

Practice head(s):

Paul Biggs; Simon Norris; Kaushik Ray

Key clients

KfW Development Bank

Mozambican Ministry of Resources and Energy

Standard Bank of South Africa

Azura Power Holdings Limited

Globeleq

Work highlights

  • Advising KfW in relation to the implementation of its Global Energy Transfer Feed in Tariff (GET FiT) Programme.
  • Advising Globeleq as the sponsors of the Cuamba Solar PV Project.
  • Advising to the sponsors (including Scatec Solar and Norfund) to the Mocuba Solar Project, a large-scale solar plant in Mozambique.
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This niche projects, finance, corporate and commercial law firm focuses on power, and infrastructure projects in emerging markets with special expertise in Africa across all areas of business.  It also has experience in the Middle East, Europe, Latin America and Asia.

The firm: Founded in 2006, Trinity provides clients with senior lawyers with a depth of relevant experience, for every transaction. The practice competes successfully with the largest and best firms in the market in its areas of expertise, supported by the previous experience of its lawyers in City or international law firms.

The practice offers an innovative approach to providing legal advice and the structuring of its fee arrangements. This flexibility encourages an approach that is not focused on hourly rates. For example, Trinity is able to share transaction risk alongside its clients.

Prominent clients include Standard Bank of South Africa, Meridiam, Rand Merchant Bank, African Development Bank, DEG, Proparco, FMO, Africa Finance Corporation, Globeleq, Copperbelt Energy Corporation, Azura Power, Endeavor Energy, ENGIE, Voltalia, Scatec Solar and AP Moller Capital.

The firm has an international presence with offices in London, Paris and Washington DC, with the Francophone practice run from Paris and a strong DFI financing practice in Washington DC.

Types of work undertaken: The practice primarily advises clients on the development, financing and corporate aspects of projects within various sectors, including all types of power (clean and renewable energy, off-grid energy solutions, thermal power, nuclear power and power infrastructure and storage solutions)  oil and gas, other infrastructure and transport, mining and natural resources, chemicals and manufacturing, telecoms and construction. Trinity is experienced in providing tailor-made solutions to a challenging range of issues including regulatory, construction, financing and development matters and Trinity frequently work on first in country and first of a kind matters and are used to structuring and creating workable solutions to get projects to financial close and beyond.

In addition to project finance, Trinity also has experience in the complete spectrum of financing arrangements including corporate, financial institutions, trade and commodities, asset backed financing, asset financing and  leverage finance, in each case for a broad  range of clients  – from commercial banks to development finance institutions and export credit agencies, as well as advising sponsors, developers and other equity investors on finance documents. Though currently acting on transactions with an aggregate capital value of over $25bn, the firm’s flexibility enables it to act on a spectrum of transactions ranging from a few million dollars to billions. The average size of its transactions is around $700m.

Examples of recent project finance transactions led by the firm include: advising the sponsors and lenders to the first solar power project to reach financial close in Burundi, lenders to the US$366 million financing of the Genser captive power business in Ghana, advising IFC on the 350MW Mpatamanga hydro power project in Malawi, advising the sponsors to both the Corbetti and Tulu Moye geothermal IPPs in Ethiopia, advising the sponsors to the Malindi solar project in Kenya, a virtual gas company in Nigeria, advising multiple sponsors in respect of the renewable energy tenders in Tunisia, an LNG-fired power plant in Mozambique, the lenders to the Chania wind project in Kenya, advising sponsors on various solar projects in Uganda, Mali, Ghana, Nigeria, Benin, Malawi and Zambia and advising the developer of a floating dry dock to be located within Takoradi Port in Ghana. In addition to IPPs, the firm is active in the off-grid space, advising on captive power projects, mini-grids and solar home systems across Sub-Saharan Africa.  Outside of Africa, the firm has a thriving emerging markets practice and has advised on a number of land mark solar and wind projects in the Ukraine (including the largest wind park in Ukraine, the Syvash Wind Park) and is active in the PPP infrastructure space in Central Asia, with current mandates including  advising on the development of the PPP structures Almaty Training Hospital in Kazakhstan.

The corporate and commercial team provides a wide range of advice, including shareholder and joint venture arrangements, asset, share and company disposals and acquisitions, buy-outs, growth and development capital transactions, corporate restructuring and reorganisations, fund formation and fund investment, corporate structuring and formation, privatisations and private equity deals. Trinity assists in company incorporation, consenting, licensing and permitting, property matters, employee relations, joint development agreements and conducting preliminary assessments of investment opportunities.  Recent transactions include advising AP Moller Capital in relation to its acquisition of the IberAfrica operating power project in Kenya, advising Climate Fund Managers in relation to its investment in a portfolio of hydro power projects in Uganda, advising the owners on the sale of a Ghanaian distribution business to a JSE-listed entity and advising a private equity fund on its proposed acquisition of an East African FMCG business.

DepartmentNameEmailTelephone
Senior partner Paul Biggs
PhotoNamePositionProfile
Rinku Bhadoria photoMs Rinku BhadoriaPartner, Energy and Infrastructure Rinku advises sponsors, funds, host governments, export credit…
Paul Biggs photo Paul BiggsSENIOR PARTNER: Acting on a number of major award winning infrastructure projects…
Fiona Gulliford photoMiss Fiona GullifordFiona Gulliford is a partner in Trinity International LLP and has a…
Conrad Marais photoMr Conrad MaraisPARTNER: Africa-focussed corporate partner with a focus on M&A, joint ventures, strategic…
Luke Muchamore photoMr Luke MuchamoreLuke is a partner at Trinity International LLP. Luke advises on project…
Simon Norris photoMr Simon NorrisSimon Norris is a founding partner in Trinity International LLP and has…
Kaushik Ray photo Kaushik RayKaushik is a partner at Trinity International LLP.  Kaushik advises lenders and borrowers on project and…
Number of UK partners : 7
Number of other UK fee-earners : 11
English
French
Society of Construction Law
England & Wales Law Society
New York Bar Association

This niche projects, finance, corporate and commercial law firm focuses on power, and infrastructure projects in emerging markets with special expertise in Africa across all areas of business. It also has experience in the Middle East, Europe, Latin America and Asia.

The firm: Founded in 2006, Trinity provides clients with senior lawyers with a depth of relevant experience, for every transaction. The practice competes successfully with the largest and best firms in the market in its areas of expertise, supported by the previous experience of its lawyers in City or international law firms.

The practice offers an innovative approach to providing legal advice and the structuring of its fee arrangements. This flexibility encourages an approach that is not focused on hourly rates. For example, Trinity is able to share transaction risk alongside its clients.

Prominent clients include Standard Bank of South Africa, Meridiam, Rand Merchant Bank, African Development Bank, DEG, Proparco, FMO, Africa Finance Corporation, Globeleq, Copperbelt Energy Corporation, Azura Power, Endeavor Energy, ENGIE, Voltalia, Scatec Solar and AP Moller Capital.
The firm has an international presence with offices in London, Paris and Washington DC and representation in Singapore. The Francophone practice is run from Paris and the Washington DC office has a strong DFI financing practice.

Types of work undertaken: The practice primarily advises clients on the development, financing and corporate aspects of projects within various sectors, including all types of power (clean and renewable energy, off-grid energy solutions, thermal power, nuclear power and power infrastructure and storage solutions) oil and gas, other infrastructure and transport, mining and natural resources, chemicals and manufacturing, telecoms and construction. Trinity is experienced in providing tailor-made solutions to a challenging range of issues including regulatory, construction, financing and development matters and Trinity frequently work on first in country and first of a kind matters and are used to structuring and creating workable solutions to get projects to financial close and beyond.

In addition to project finance, Trinity also has experience in the complete spectrum of financing arrangements including corporate, financial institutions, trade and commodities, asset backed financing, asset financing and leverage finance, in each case for a broad range of clients – from commercial banks to development finance institutions and export credit agencies, as well as advising sponsors, developers and other equity investors on finance documents.

Examples of recent project finance transactions led by the firm include: advising the sponsors and lenders to the first solar power project to reach financial close in Burundi, lenders to the US$366 million financing of the Genser captive power business in Ghana, advising IFC on the 350MW Mpatamanga hydro power project in Malawi, advising the sponsors to both the Corbetti and Tulu Moye geothermal IPPs in Ethiopia, advising the sponsors to the Malindi solar project in Kenya, a virtual gas company in Nigeria, advising multiple sponsors in respect of the renewable energy tenders in Tunisia, an LNG-fired power plant in Mozambique, the lenders to the Chania wind project in Kenya, advising sponsors on various solar projects in Uganda, Mali, Ghana, Nigeria, Benin, Malawi and Zambia and advising the developer of a floating dry dock to be located within Takoradi Port in Ghana. In addition to IPPs, the firm is active in the off-grid space, advising on captive power projects, mini-grids and solar home systems across Sub-Saharan Africa. As an example, Trinity is advising IFC in the development of a regional program to support an electrification in emerging markets by way of creation of a bankable and replicable mini-grid model to scale the development and financing of mini-grid PPPs in the region.

Outside of Africa, the firm has a thriving emerging markets practice and has advised on a number of land mark solar and wind projects in the Ukraine (including the largest wind park in Ukraine, the Syvash Wind Park) and is active in the PPP infrastructure space in Central Asia, with current mandates including advising on the development of the PPP structures Almaty Training Hospital in Kazakhstan.

The corporate and commercial team provides a wide range of advice, including shareholder and joint venture arrangements, asset, share and company disposals and acquisitions, buy-outs, growth and development capital transactions, corporate restructuring and reorganisations, fund formation and fund investment, corporate structuring and formation, privatisations and private equity deals. Trinity assists in company incorporation, consenting, licensing and permitting, property matters, employee relations, joint development agreements and conducting preliminary assessments of investment opportunities. Recent transactions include advising AP Moller Capital in relation to its acquisition of the IberAfrica operating power project in Kenya, advising Climate Fund Managers in relation to its investment in a portfolio of hydro power projects in Uganda, advising the owners on the sale of a Ghanaian distribution business to a JSE-listed entity and advising a private equity fund on its proposed acquisition of an East African FMCG business.

DepartmentNameEmailTelephone
Senior Partner Paul Biggs
UK Partners : 7
Number of other UK fee-earners : 11
English
French
Society of Construction Law
Law Society of England and Wales
New York Bar Association