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The Warsaw Voice » Business » August 26, 2010
Business & Economy
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Garrigues Named Top Global Legal Adviser in Project Finance
August 26, 2010   
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Garrigues maintained its outstanding track record in global project finance in the first half of 2010. The firm has emerged as the leading legal adviser worldwide after working on the most deals, a total of 23, according to the latest league tables published by Infrastructure Journal, a renowned publication in the field of infrastructure investment.

The 23 transactions, worth $6 billion, were related to the renewable energy sector (PV, thermal, solar and wind energy) and to the public infrastructure sector, including key roads and airport projects.

One of the most notable transactions completed in this period is the Castor gas storage project, considered to be one of the biggest project finance deals in Europe over the past two years. A syndicate of 19 banks will provide financing of more than $1.46 billion to meet the project’s costs. Castor, located about 22 kilometers offshore, close to the city of Valencia in Spain, has been designed to store up to 67 billion cubic feet of gas and will have a withdrawal rate of up to 882 million cubic feet per day. The project is due to come online in 2012 via two fixed platforms and a pipeline to shore.

In such a difficult semester, the results show Garrigues’ reliability among lenders and sponsors, who specially appreciate the high degree of expertise and specialization of the firm’s teams.

Second as Legal Adviser of Global PFI/PPP
Garrigues has also stood out in the field of PFI/PPP, as it has come in second among the top 10 legal advisers in this area. During the first half of 2010, the firm closed a total of eight transactions worth $2.2 billion, according to results published by Dealogic Global Project Finance Review. Garrigues is the largest continental European legal services firm, both in terms of billings and number of fee earners. The firm, which provides full advisory services, has the largest network of offices in Spain and has its own offices in London, New York, Brussels, Lisbon, Oporto, Bucharest, Warsaw, Casablanca, Tangiers and Shanghai.
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