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Project Finance


Fasken has a rich experience in project finance and our professional team has travelled the world to help clients conclude these transactions.
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Overview

Fasken has a rich experience in project finance and our professional team has travelled the world to help clients conclude these transactions. Financings have covered projects in South and Central America, the Caribbean, Asia, Africa, Eastern, Central and Western Europe, Australia, the UK and, of course, North America. The firm's grounding in both the common and civil law systems has facilitated our understanding of issues raised by local laws and the many languages spoken by our staff have eased communication. The firm's London and Johannesburg offices have assisted in many ways, including in terms of proximity to key industry players as well as attenuating challenges associated with time-zone differences.

Our Clients

The firm's project finance clients include private and public (NGO, etc.) lenders within and outside Canada, project sponsors and suppliers, and other industry participants. As a result of this diverse experience, our professionals bring a full appreciation of the issues and concerns of other participants in the transaction, helping the parties arrive at a successful conclusion.

Our Expertise

The firm has participated in a variety of projects including energy (hydroelectric, co-generation, renewables, independent power and related), oil and gas (upstream, downstream and pipeline), ethylene glycol, ethanol, major infrastructure projects, mining, forestry products, utilities, transportation (including both transportation systems and facilities, as well as financings of individual assets), telecommunications and media. Fasken is a recognized leader in many of these industries, and our experience in many facets of transactions allows us to bring greater familiarity with the core industry issues surrounding a transaction. For example, the firm's Global Mining Group is known around the world as a leading provider of services to the mining industry and its financiers and investors. Our firm was the first law firm to sponsor the well-known Indaba Conference in Cape Town, and our lawyers attend and participate in conferences, seminars and other industry gatherings around the world and hold leading roles with industry bodies.

In addition to the core finance aspects that accompany a project finance mandate, counsel may be called upon to provide advice in the following areas of law in which the firm has recognized expertise: securities and capital market, financial and commodity derivatives, environmental, construction, transportation, partnerships, joint ventures and similar arrangements, competition, income, commodity, and customs, and other taxes and duties. In a number of significant and high-profile projects, the firm has acted on a first-call basis for sponsors or other participants. The firm's litigation, insolvency and labour groups are recognized leaders in their own right, and many project finance clients, including lenders and sponsors, have taken comfort from our ability to assist in litigation, ADR and proceedings before labour and other tribunals, as well as our experience in the enforcement of creditors' rights and the provision of assistance to debtors in difficulty (whether through formal proceedings or in work-outs and restructuring).

Achievements

  • Recognized in South Africa in Project Finance and Development Practice, Best Lawyers 2021 to 2026
  • Recognized in the Canadian Legal Lexpert Directory in Project Finance, Canadian Legal Lexpert Directory 2020 to 2025
  • Recognized in Lexpert's Leading 500 Cross-Border Lawyers in Project Finance, Lexpert 500 Cross Border Directory (formerly ALM 500) 2020 to 2025
  • Recognized in Project Finance, Best Lawyers 2020 to 2025
  • Ranked as top tier (Tier 1) in Project Finance, Lexology Index 2018 to 2024
  • Ranked top tier (Tier 1) in South Africa in Project Finance, IFLR 1000 2020 to 2023
  • Ranked nationwide in Canada in Project Finance, IFLR 1000 2018 to 2023

Team

Primary Contact
  • Lara Bezuidenhoudt, Partner | Project Finance, Johannesburg, +27 11 586 6038, [email protected]

Experience

  • FG Gold, AFC and Afreximbank achieve financial close on US$330 million senior debt financing for Baomahun Gold Project, [Deal - Africa Finance Corporation], FG Gold secures US$430M financing for Sierra Leone’s largest gold mine.
  • The Adult Corrections Facility Replacement Project, with a consortium led by Plenary Americas reaches financial close, [Deal - Plenary Americas], Public infrastructure investor completes financial close on facility replacement project.
  • Ardian announced the creation of a new Canadian joint venture, Clermont, with Indigo Group, [Deal - Ardian], Creation of Clermont, a new Canadian joint venture.
  • The I-10 Calcasieu River Bridge Public-Private Partnership Project, with a consortium led by Plenary Americas reaches financial close, [Deal - Plenary Americas], Plenary Americas, Acciona SA and Sacyr, S.A. reach Financial Close worth US$1,333,000,000 of the I-10 Calcasieu River Bridge Public-Private Partnership Project in Louisiana.
  • Harmony Energy Limited entered into a secured revolving credit facility for up to £10 million with Triodos Bank UK Limited, [Deal - Harmony Energy Limited], Revolving credit facility agreement for up to £10 million and a share charge and related rights agreement.
  • Enel Green Power reaches financial close on three wind power projects of a combined capacity of 330MW, [Deal - Lenders], Portfolio project financing for the construction, operation and maintenance of 3 wind farms with a combined capacity of 330MW.
  • Sprott Private Resource Streaming and Royalty (B) Corp. purchases 3.1% net smelter returns royalty on the Premier Gold Project for USD $30,000,000, [Deal - Sprott Private Resource Streaming and Royalty (B) Corp.], Royalty financing deal for BC mine
  • Closing of a US$55 million mezzanine facility agreement by Africa Finance Corporation with FG Gold Limited, facilitating construction of the Baomahun Gold Project in Sierra Leone, [Deal - Africa Finance Corporation], AFC closes US$55 million mezzanine facility agreement with FG Gold
  • Trident Royalties Plc acquires 0.9% net smelter return royalty over New World Resource Limited’s Antler copper project in Arizona for AUS $11,000,000, [Deal - Trident Royalties PLC], Fasken advised Trident Royalties Plc in its AUS $11,000,000 acquisition of a 0.9% net smelter return (NSR) royalty over New World Resource Limited’s Antler copper project in Arizona. The royalty also includes a 0.45% NSR over any ground subsequently acquired by New World within 5km, which include...

Knowledge

  • Congestion curtailment approved by NERSA – an attempt to free up grid connection capacity for wind energy facilities in the Eastern and Western Cape regions, 7/1/2025
  • Key insights into the amended Treasury Regulation 16, 4/22/2025
  • Financing South Africa’s grid expansion on a Public-Private Partnership (PPP) basis a viable solution, 6/25/2024
  • Unique Public Private Partnership Models for the insurance (and assurance) of Government Infrastructure, 4/6/2022
  • Using Notarial Bonds as a Form of Security in the Financing of Renewable Energy Projects, 7/7/2021
  • Infrastructure Development Act - Strategic Integrated Projects, 7/24/2020

Events

  • Outlook for Canadian Infrastructure Investment 2026 - INFIN Canada January Briefing, 1/21/2026
  • Startups : Attracting the right team and preparing your financing round, 7/5/2023

News

  • Tania Siciliano, Danielle Van Der Vaart, and Arnold Sagonda discuss the advantages offered by FIDIC contracts for infrastructure financing in Infrastructure News, 11/4/2025
  • Rhulani Nkomo Joins Fasken as Partner in the Finance and Projects Group, 11/5/2024
  • Marli Roode Joins Fasken as Partner in the Finance and Projects Group, 8/19/2024
  • Lara Bezuidenhoudt describes the key role P3s could play in developing South Africa’s electricity grid in Business Day, 6/25/2024
  • African Law & Business mentions Fasken team in an article on South African renewable energy deal, 9/29/2022
  • Fasken Advises Lenders on Ground-Breaking 100 MW Renewable Energy Projects, 9/22/2022
  • Fasken Recognized by IFLR1000 for Banking and Finance and Financial Services Regulatory, 6/6/2022
  • Seventeen Fasken Lawyers Recognized in the 2022 Edition of Best Lawyers in South Africa, 11/11/2021
  • Fasken Recognized by IFLR1000 for Banking and Finance and Financial Services Regulatory, 5/31/2021
  • The 2021 Canadian Legal Lexpert Directory Recognizes 235 Fasken Lawyers, 4/22/2021

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