HFN’s Project Finance department is the most successful and diversified practice of its kind in Israel, dominating the project finance industry by playing a lead role in almost all of Israel’s major infrastructure development and project finance transactions. Currently, the department is engaged in significant projects relating to the exploration and production of the recent natural gas discoveries off the coast of Israel.
The Project Finance department is internationally known for its expertise in all areas of project finance and is continually recognised as the leading practice in Israel by international and domestic legal directories including IFLR 1000, Chambers Global, Legal 500, PLC Which Lawyer?, Dun and Bradstreet’s Dun’s 100 and BDI.
The Project Finance department is unique in its extensive experience advising all of the key players in project finance transactions, including the sponsors, concessionaires, lenders and public authorities. The Project Finance department has worked on some of Israel’s most significant infrastructure projects including the recently-completed Jerusalem Light Railway, Road 431 and the Cross Israel Highway (including the various extensions).
The department is involved in multiple energy and natural resources projects, such as desalination plants, solar power projects, wind farms, gas transmission and independent power plants. Most recently, the department advised the consortium of lenders in the Dorad Energy power plant financing, the largest independent power plant in Israel (for more information, see Energy and Natural Resources).
Consistently at the forefront of industry developments, HFN’s Project Finance department is actively involved in advising license-holders and operators on the recent natural gas discoveries in Israel’s territorial waters.
The Project Finance department advises in the following areas:
Preparing and negotiating project agreements, including concession contracts, construction agreements, and operating and maintenance agreements
Structuring, negotiating, and documenting financing agreements, including loan and credit facility agreements and security documents
Advising on preparing pre-qualification submissions, tender documentation and bids to undertake projects
Drafting consortium agreements among entrepreneurs
Advising on environmental and regulatory compliance issues and assistance with obtaining the necessary approvals and permits
Advice with respect to oil and gas agreements and regulatory issues
The Project Finance department is led by partners Adam Eytan and Mark Phillips, each of whom has over 15 years of experience in Project Finance in Israel and abroad. Both Mark and Adam are widely recognised by local and international players in the projects market as leading experts, with experience in advising concessionaires, lenders and public bodies. They are also acknowledged at the individual level as experts by all of the major rankings guides.