Each year one in every five foreign direct investment dollars in the Global South flows through project finance transactions. These transactions consist of large-scale energy and infrastructure projects, and consistently produce deleterious effects on third parties. Until now, much of the legal...

Based on the economic literature and international comparison, the paper examines the adequacy of the terms of Italian project financing contracts to build and operate public works, and identifies potential areas for improvement. We analyze the main contractual content of the public works...

Las Administraciones Públicas tienen entre sus principales objetivos dotar a la sociedad de suficientes infraestructuras que contribuyan a la mejora del bienestar de sus ciudadanos y al desarrollo económico. Este deber de la Administración se enfrenta hoy en día a importantes desafíos...

The growth of commercial-scale wind power generation has exposed a gap in the energy industry's toolset for risk management: supply-side volume hedging. While niche wind volume hedging instruments exist today, the market for these instruments remains small and poorly integrated with the...

The study examines the essence of preliminary risk assessment in project finance; identifies the typical project risk at start-up and its mitigation; analyzes financial and political risks surrounding a project and the determines a lenders position in the midst of risk. The main purpose of...

Project finance links financial structure to the project's operational characteristics in order to optimize the allocation of project risk and cash flow. We find that project companies use more leverage when project risk is high, but use less leverage when risk-reducing features are present,...

In a build, operate, and transfer (BOT) scheme, as Project Finance (PF), equity investors are concerned about the adequacy of their returns. On the other hand, the timeliness of the project debt service payments focuses to the lenders. Consequently, an important role is played by PF and risk...