Large-scale capital projects — whether energy plants, transportation infrastructure, water systems, hospitals, or industrial facilities — require financing structures that match the scale, complexity, and long-term nature of the assets being built. Project finance is the specialized discipline that makes these investments possible: it enables sponsors to raise substantial debt financing secured against the future cash flows of the project itself, rather than against their own corporate balance sheet. This structure unlocks capital for projects that would otherwise be unfinanceable, and it allocates risk in ways that align the interests of sponsors, lenders, and project counterparties.
Our Project Finance Advisory Services provide sponsors, developers, governments, and lenders with the expertise needed to structure, analyze, negotiate, and close complex project finance transactions efficiently and on the best achievable terms.
What We Deliver
Project Finance Feasibility and Structuring We work with project sponsors from the earliest stages of project development to assess financial feasibility and develop the optimal financing structure. Our feasibility work covers revenue analysis, cost benchmarking, financing assumption development, return on equity modeling, and preliminary debt sizing — providing sponsors with a clear view of whether a project is financeable before significant development costs are incurred. We advise on the overall project structure — including SPV design, ownership arrangements, and contractual framework — to maximize bankability and commercial attractiveness to both lenders and equity investors.
Project Finance Financial Model Development
We develop comprehensive, industry-standard project finance models that capture the full project lifecycle with accuracy and flexibility. Our models cover construction phase cost and drawdown, commissioning and ramp-up period, steady-state operations, full debt service schedule, equity return waterfall, and tax analysis — built in a transparent, fully auditable structure that withstands scrutiny from lenders, independent financial advisors, and rating agencies. We build sensitivity and scenario analysis into all models, allowing sponsors to understand the financial implications of a wide range of assumptions and risk outcomes.
Debt and Equity Structuring
We advise on the optimal capital structure for each project — balancing the desire to maximize leverage and enhance equity returns against the need to maintain adequate debt service coverage ratios and meet lender requirements. We advise on the appropriate debt instrument mix — senior secured loans, subordinated debt, mezzanine facilities, bonds, and export credit — and on the equity contribution structure, return waterfall, and inter-sponsor arrangements that govern the relationship between co-investors.
Lender Identification and Financing Mandate Advisory
We identify the most appropriate lender group for each project — drawing on our relationships with commercial banks, export credit agencies, development finance institutions, multilateral development banks, Islamic finance institutions, and infrastructure debt funds. We advise on the optimal lender group composition and manage the financing mandate process — preparing comprehensive financing information packages, managing lender engagement and credit processes, and advising on the selection of mandated lead arrangers.
Due Diligence Coordination
Project finance lenders conduct extensive multi-disciplinary due diligence — including independent technical review, environmental and social assessment, market and demand analysis, insurance review, legal due diligence, and financial model audit. We coordinate the full due diligence process on behalf of sponsors — managing information requests, facilitating site visits, tracking due diligence workstreams against the overall transaction timeline, and ensuring that due diligence findings are addressed promptly and professionally.
Key Contract Review and Negotiation Support
The bankability of a project finance transaction depends critically on the quality of its key project contracts — including offtake agreements, fuel or feedstock supply agreements, EPC contracts, operation and maintenance agreements, and concession or land agreements. We review key contracts from a financial and bankability perspective and advise sponsors on negotiating provisions that enhance lender confidence while protecting their commercial position.
Refinancing Advisory
Many project finance transactions benefit from refinancing once the construction risk period has passed and the project has achieved stable operations. Post-construction refinancing can significantly improve equity returns by replacing more expensive construction-phase financing with lower-cost operational financing on improved terms. We advise on the timing, structure, and execution of project refinancing transactions — managing the process from initial market sounding through to financial close of the refinancing.
Sectors We Cover
Our project finance advisory practice is active across renewable energy (solar PV, wind, hydro, geothermal), conventional power generation, oil and gas infrastructure, transmission and distribution infrastructure, transportation (roads, railways, ports, airports), water and sanitation, healthcare facilities, education infrastructure, telecommunications, and industrial facilities. Our cross-sector experience gives us deep knowledge of the financing norms, lender appetite characteristics, risk profiles, and contractual frameworks relevant to each asset class.
Who We Serve Project sponsors and developers bringing major capital projects to financial close, infrastructure equity funds evaluating and structuring project investments, government agencies seeking to attract private financing for public infrastructure, commercial banks and DFIs conducting lender-side financial advisory, EPC contractors with project development ambitions, and industrial companies financing major capital expenditure programs.