Truly ahead of the curve, the Infrastructure and Project Finance team at Desai & Diwanji comprises reputed specialists who serve both international and Indian clients, including multilateral agencies, governments, project sponsors, developers, EPC contractors, investors (both private and institutional), private equity and other investment funds, lenders, banks, financial institutions, export credit agencies, and public sector enterprises.
The Firm has been at the forefront of infrastructure and project finance work in India, having successfully navigated the complex regulatory landscape and provided innovative solutions across a variety of infrastructure asset classes, including:
- More than 60 Independent Power Producers (IPPs)
- Liquefied Natural Gas (LNG) Projects
- Ports
- Upstream Oil & Gas Projects
- Downstream Gas Transportation and Storage
- Pipelines
- Mining Projects
- Conventional as well as Renewable Energy Solutions (including thermal, hydroelectric, nuclear, solar, wind, biofuels, e-mobility, hydrogen, and hybrid power)
- Satellite and Telecommunications Infrastructure
- Water Supply and Sanitation Projects
- Transportation Infrastructure (including roads, highways, bridges, airports, railways, and mass rapid transit systems)
- Waste Treatment Plants
- Other Urban Infrastructure Projects
Our advice encompasses the entire life cycle of a project, from the bidding process to financial closure and the commercial operation date (COD). The Firm regularly advises on:
- Concession Agreements
- Public-Private Partnership (PPP) Models
- All Manner of Project Delivery Methods (including BOT, BOOT, BOO, BOLT, DBOT, DBFOT, OMT, and HAM)
- FIDIC Contracts
- Engineering, Procurement and Construction (EPC) Contracts
- Operations and Maintenance (O&M) Agreements
- Production Sharing Contracts (PSCs) and Joint Operating Agreements (JOAs)
- Fuel Supply Agreements and Power Purchase Agreements (PPAs)
- Offtake Agreements
- LNG Sale and Purchase Agreements
- Farm-In / Farm-Out Agreements
- Gas Sale Agreements
- Gas Transportation Agreements
- Tariff Advisory
- Risk Assessment and Preparation of Risk Matrices
- Advisory Related to Permits and Consents
- Assessment of Land Acquisition Issues, including property-related diligence, advice pertaining to all types of land tenures across India, and land-use categorisation (village land, forest land, tribal land, eco-sensitive zones, etc.)
- Environmental Law Compliance
- Advisory on Applicable Permits and Consents
- Wildlife Protection Laws
- Compliance with Coastal Regulation Zone (CRZ) Regulations
- Laws Governing Natural Resources
- Advisory on Sector-Specific Laws
Our team is adept at handling everything from basic vanilla financing to complex structured finance, including innovative stressed asset financing structures and support on financing issues. We have advised lenders and borrowers on various foreign debt transactions (including ECBs, trade credits, FPI routes, etc.), and domestic debt transactions involving complex security structures (including security on listed securities), structured guaranteed obligations for financing of JV/WOS, and working capital financing.
We have expertise in handling multi-lender consortium financing arrangements (with diverse interests) and harmonising inter-creditor arrangements to protect the interests of all creditors. We have advised lenders on pre-insolvency restructuring under the RBI framework for the resolution of stressed assets and devised implementable structures that protect lender interests while enabling recompense when borrower stress subsides. We also advise lenders on various cash-trapping mechanisms (including trust and retention account agreements and collection escrow mechanisms) to ensure that borrower cashflows are utilised for their intended purposes.
Lawyers from our Infrastructure and Project Finance practice adopt a multidisciplinary approach and collaborate extensively with members of the Firm’s other practice areas to provide clients with in-depth, domain-specific legal advice and seamless service, resulting in the efficient realisation of client objectives.
The Firm has received several awards and recognitions for its work in the Infrastructure and Project Finance space.