The Project Finance Committee provides the forum for discussion of both traditional project finance, which is centered in the energy sector, and other types of projects, such as airports, ports, toll roads, LNG facilities, heavy manufacturing facilities, and sports facilities. While project finance (PF) is generally understood to apply to significant infrastructure projects, e.g., power plants, telecommunications projects and toll roads, PF techniques are routinely applied in a wide variety of transactions where parties desire to finance significant activities on a limited or non-recourse basis. The PF Committee also addresses the global and evolving nature of PF transactions and techniques, covering U.S.-based and international transactions as well as the ongoing worldwide expansion of public/private partnerships as project vehicles.
The PF Committee addresses not only the legal substance of PF, but also the process of negotiating and documenting such transactions. Our principal activities are (i) discussing and debating issues of current relevance and interest to practitioners in the PF area; (ii) sponsoring and presenting educational programs on PF-related topics; and (iii) preparing and publishing model agreements (with commentary), practice manuals and other reference works and resource materials relating to PF transactions.
The PF Committee members represent a wide cross-section of the parties involved in PF transactions: project sponsors (developers), construction contractors, equipment vendors, and providers of operations and maintenance services, as well as the various financial parties commonly involved in PF transactions, such as commercial and investment banks, export credit agencies, regional or national development banks, credit enhancers, and other arrangers and providers of financing.
