Leading Associates

Project finance and PFI in Netherlands

A&O Shearman

A&O Shearman‘s finance and real estate team ‘stands out for its consistency and depth of expertise‘ in handling project financing, project development and regulatory law issues. The team is well versed in assisting in renewable energy projects for a number of asset classes including wind farms, solar parks, hydrogen, geothermal, water and waste. Over the last year, the practice has been active in data centre developments as well as infrastructure and transport investments and project financings. Zeeger de Jongh leads the Amsterdam team and excels in energy and renewable-related project finance, while co-lead Jochem Spaans is well-versed in environmental law and spatial planning law. Co-head Leon Hoppenbrouwers is the go-to for commercial real estate transactions and co-lead Werner Runge specialises in project financing, PP/PFI projects and structured real estate transactions. Grace McLeish left the firm in April 2024.

Praxisleiter:

Leon Hoppenbrouwers; Zeeger de Jongh; Jochem Spaans; Werner Runge


Weitere Kernanwälte:

Marinus Winters; Koen de Wit; Cees van Ginneken


Referenzen

‘A&O Shearman has a very strong network across the world enabling them the give very good cross-border advice thanks to local presence. Further, they have important in-depth knowledge available. A&O Shearman proactively reaches out to clients to start collaborating in developing new propositions or creating a legal framework in the interests of the clients’ innovations.’

‘Zeeger de Jongh is professional, highly experienced, knowledgeable and fun to work with!’

‘The practice is managed by one of the most experienced legal partners in the industry and the team knowledge on industry standard is extremely high. The practice has excellent quality which is worth it for large and complex legal/financing situations.’

Kernmandanten

Rabobank


ABN Amro and Belfius Bank NV/SA


ABN Amro Bank N.V.


Al Ansar Hospital PPP


State of the Netherlands


H2 Green Steel


APG / OMERS


EdgeConnex


Sunrock


Gemini project


Avantium


DIF Management


Highlight-Mandate


  • Advised EdgeConneX and EQT on the upsizing of the financing of their entire European data centre portfolio.
  • Advised 20+ commercial lenders, export credit agencies and European investment bank to the Gemini offshore wind farm.
  • Advised Tamasuk and Alghanim on the financing of a PPP hospital project in Madinah, Kingdom of Saudi Arabia.

Clifford Chance

The energy and infrastructure group at Clifford Chance draws on the firm’s international scope to advise on complex global project financings, portfolio and holding company financings and refinancings. The team is well versed in energy transition projects and combines the expertise of its project finance, project development, construction and commercial contracting teams to assist clients. The global financial markets team is led by Hein Tonnaer who leads on renewable energy-related project financings as well as on digital infrastructure finance matters. Corporate team lead Liesbeth Buiter handles a mix of renewable energy and infrastructure projects for utility companies, lenders, sponsors and project companies. Nanette Rutgers is noted for her expertise in company financings as well as onshore and offshore wind, solar and battery storage asset classes. Mike Niekoop is another key name in the practice.

Praxisleiter:

Hein Tonnaer; Liesbeth Buiter


Weitere Kernanwälte:

Nanette Rutgers; Mike Niekoop; Philip Walsh; Niels Kuil; Jaap Koster


Referenzen

‘Clifford Chance is a big law firm that excels in doing large deals. They are lenders’ counsel for our project, and due to a big waiver request, we have worked more extensively together. I would recommend to use Clifford Chance for very big and complex projects.’

‘Niels Kuil is a junior associate but we are extremely impressed by the way he managed this process. It was a complicated process and Niels was both very fast in understanding all agreements and matters and managed the process with the lenders also exceptional.’

‘Really capable counsel for project financings and guarantee structures.’

Kernmandanten

EdgeConneX


Rabobank


SkyNRG BV


CEE Group


EnBW Energie Baden-Württemberg AG


TotalEnergies


Shell


Energie Beheer Nederland


Gasunie


SMBC


Mizuho


NIBC


NordLB


Siemens


KKR


LBBW


Recurrent Energy


GIGA Storage


GIGA Giraffe


Advario Projects


Partners Group


NTT Global Data Centres


Vattenfall


SSE


APG


Highlight-Mandate


  • Advised the export credit agencies (ECAs) and lenders on the $3.7bn project financing of the construction and operation of the 1,022MW Hai Long offshore wind farm project in Taiwan.
  • Advised underwriters and senior lenders on the sustainbility-linked €2.4bn porfolio (re)financing of European data centres owned and operated by EdgeConneX.
  • Advised LBBW on PowerField’s circa €500m structure equity and portfolio project financing.

Norton Rose Fulbright

Norton Rose Fulbright‘s project finance team is led by banking expert Wouter Hertzberger who centres his practice on project financing for energy and infrastructure sectors, acting for both lenders and sponsors in energy projects involving renewables, oil, gas and other key asset classes. The team regularly assists clients with transactions involving green and sustainability issues and has recently hired energy specialist Marjolein Dieperink , who was previously at AKD, to support the team in energy-related issues. Daphne Broerse is also a key name to note with regards to environmental and construction project financings, assisting with major land reclamation projects, river protection projects and PPPs.

Praxisleiter:

Wouter Hertzberger


Weitere Kernanwälte:

Daphne Broerse; Marjolein Dieperink; Joris Ravelli


Referenzen

‘Well-connected team with ability to close deals which is rare to find in the Netherlands.’

‘Wouter Hertzberger is the stand-out partner. He is able to be pragmatic when it matters and that is crucial in the energy transition space.’

‘Norton Rose Fulbright have a very broad experience in the project finance sector, from ports to energy to aviation. This allows the team to provide cross-sector innovative legal solutions, which is highly appreciated by clients. Recently, the firm has added valuable experience to the team in special situations, which is very useful when something unexpected occurs.’

Kernmandanten

ABN Amro


Attero


Banco Santander S.A


Bank of America


Ballast Nedam Concessions


BBGI


Besix


BNP Paribas


DEME Group


Dura Vermeer


DNB Bank


EIB


FlevoBESS


Hamburg Commercial Bank


HES International B.V.


HSBC


IFC


John Laing


Macquarie Capital


Meridiam Infrastructure


ING Bank


Nederlandse Waterschapsbank N.V.


KBC Bank NV


Natixis


Rabobank


Strukton Integrale Projecten


Sandvik


TBI PPP


Highlight-Mandate


  • Advised the lenders on the enforcement and sale of the Hartel Tank Terminal Project.
  • Advised the lenders on the structuring and provided ongoing advice on the Avantium project.
  • Advised the lenders on the restructuring of the RIVM PPP project.

Stibbe

Stibbe‘s project finance team is well equipped to advise Dutch clients on project financing, PFI, PPP projects and financing of acquisitions. The team is jointly led by financing, construction, procurement and regulatory experts David Orobio de Castro, Marieke Driessen, Martin In de Braekt, and Ingmar de Groot from Amsterdam. The team has been involved with major PPP projects such as the A9 Badhoevedorp-Holendrecht and A24 Blankenburg connection over the last few years alongside off-shore wind park financings. Orobio de Castro and Driessen are well-versed in issues involving the energy tradition and have published a number of articles related to project financing and the ESG.

Praxisleiter:

David Orobio de Castro; Marieke Driessen; Martin In de Braekt; Ingmar de Groot


Weitere Kernanwälte:

Niek Groenendijk


Kernmandanten

Macquarie Capital


Group of lenders including the European Investment Bank (EIB), KBC, Korea Development Bank, Belfius, KfW, BNG and SMBC as well as institutional investors Natixis, MEAG and Samsung Life Insurance


ING Capital


Groenleven


BAM


Van Oord


Ballast Nedam


Strukton


EIB


ING


Highlight-Mandate


  • Advised Macquarie Capital, on the tender, contracting and reaching financial close the PPP Project A9 Badhoevedorp-Holendrecht.
  • Advised the lenders, consisting of a mix of bank lenders and the EIB, on a PFI transaction providing finance to BAAK Blankenburg-Verbinding B.V.
  • Advised Absa Bank Limited on the financing of the acquisition by Infinity Power of Lekela Power.

Bird & Bird

Bird & Bird is well versed in advising Dutch financial institutions, investors and borrowers in financing a wide number of asset classes including wind, battery storage, bio-based recycling, data centres and solar. The team also handles financing for infrastructure and renewable energy projects. Practice head Roger van Buuren focuses on real estate finance and project finance related to digital infrastructure and renewable energy. He is also well versed in assisting with financing of circular economy related projects.

Praxisleiter:

Roger van Buuren


Weitere Kernanwälte:

Sophie Dingenen; Paul Waszink


Referenzen

‘Bird & Bird stands out in its efficiency and effectiveness as a result of their understanding of the market and the clients’ background. The project finance practice is able to have a sophisticated understanding of the client’s position, the specific request and the challenges, and translating that to a pragmatic approach and tailor-made and slim set of documentation.’

Kernmandanten

ABN Amro Bank N.V.


Coöperatieve Rabobank U.A.


Invest-NL


Limburgs Energie Fonds (LEF) B.V.


Giga Storage B.V.


Statkraft Renewables Benelux B.V.


Zencap Asset Management


Pacifico Energy GmbH


Oesterreichische Entwicklungsbank AG


Kreos Capital


Christofferson Robb & Company


BioBTX B.V.


Pfalzsolar GmbH


Highlight-Mandate


  • Advised ABN Amro Bank on various solar energy transactions, including financing of the development and operation of the largest ground-mounted solar park in the Netherlands.
  • Advised Polestar Capital Circular Debt Fund on the financing for BioBTX for the development, construction and operation of a biobased plastics recycling plant.
  • Advised Zencap Asset Management on the junior financing for the capital raise of SFP Group for the construction of a biomethane facility.

Dentons

Dentons stands out for its expertise in battery energy storage system (BESS) energy projects and has been involved in a number of major BESS projects in the Netherlands. The team advises on energy transition issues and assists both lenders and sponsors in project and energy finance. Marcel Janssen spearheads the banking and finance practice and specialises in project finance and energy finance. Co-lead of the transport and infrastructure team Jacqueline Bell handles cross-border financings, while Jan Jakob Peelen leads the energy group and advises on solar, wind and biomass projects.

Praxisleiter:

Marcel Janssen; Jacqueline Bell; Jan Jakob Peelen


Referenzen

‘Very pragmatic and know how to handle project finance closings.’

‘Engaged, flexible.’

Kernmandanten

Rabobank


Triodos Energy Transition Europe Fund


GIGA Storage


Stichting Groenfonds (Dutch state owned fund for green investments)


Macquarie Capital


ING Bank


Nationaal Groenfonds


Santander


Highlight-Mandate


  • Represented Santander and a consortium of lenders in a significant capital raise initiative to fund the construction of a 368MW utility-scale battery storage asset in the Netherlands.
  • Advised Giga Storage B.V. on the initial stages of a battery project to be located in Amsterdam’s port area.
  • Advised Macquarie Capital as sponsors and ABN AMRO as lenders on the 45MW project in Dordrecht the Netherlands.

DLA Piper

The banking and finance practice at DLA Piper handles a number of cross-border finance transactions and project financings in the Netherlands. The team is led by project finance specialist Gerard Kneppers who is adept at advising on renewable energy-related project financings as well as developmental financial institution (DFI) based lending and infrastructural project finance. Renewable energy assets the team has advised on include solar, storage and EV charging products.

Praxisleiter:

Gerard Kneppers


Referenzen

‘Good knowledge of market developments. Good network.’

Kernmandanten

BASF


Cooperatieve Rabobank U.A.


Energy Infrastructure Partners


FMO (Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden)


ING Bank


Landesbank Baden-Württemberg (LBBW)


Powerfield Netherlands B.V.


Triodos Bank


Highlight-Mandate


  • Advised STX Commodities B.V. on the project financing by Groengas Cothen B.V. of the construction of a biomethane installation in the municipality of Wijk bij Duurstede.
  • Advised Eiffel Investment Group SAS on its refinancing of two portfolios of solar renewable energy assets in Germany and Poland respectively.
  • Advised Coöperatieve Rabobank U.A on its capacity as lender in relation to the financing of the acquisition of solar park Fledderbosch from Ecorus.

HabrakenRutten

HabrakenRutten is noted for its focus on PPP projects, acting for lenders, borrowers, sponsors and investors on PPP/PFI project financings. The firm is well versed in construction and infrastructure issues, positioning them well to advise on rail, national motorways and large scale wet infrastructure. The team has also been active in energy projects for solar, wind, gas, hydrogen and heat. Practice head Peter Habraken leads the team from Amsterdam and is experienced in refinancing during project phases and handling project documents in PPP financing. Co-lead Henk Raven is well versed on corporate and contract law.

Praxisleiter:

Peter Habraken; Henk Raven


Kernmandanten

Eneco


Visser & Smit Bouw


Highlight-Mandate


  • Assisted Visser & Smit Bouw with project development of Holland Hydrogen I as lead counsel.
  • Advised Eneco on the project financing of a large solar PV energy project.
  • Advised lenders on the project financing of the A15 Motorway PPP project.

NautaDutilh

NautaDutilh regularly advises clients on infrastructure, real estate, renewable and energy projects for Dutch and international clients. The team is equipped to advise on international transactions and acts as lender counsel to global financial institutions. Jaco Belder leads the Amsterdam team and specialises in domestic and international financing transactions, PP/PFI and renewable energy projects. Co-lead Erik Geerling acts on behalf of lenders in ship finance matters.

Praxisleiter:

Jaco Belder; Erik Geerling


Kernmandanten

Aegon Asset Management


Allianz


Asian Development Bank


BAM Group N.V.


Belfius


CBRE


Credit Agricole


Deka Bank


European Investment Bank


European Bank for Development and Construction


High Tech Campus Eindhoven


Infraco Africa


Infravia


Invesis


Macquarie Capital


NIBC Bank


Rabobank


Siemens


Stadion Feijenoord N.V.


Stichting Gebiedsontwikkeling aan de Maas


Univé


Highlight-Mandate


  • Advised an undisclosed syndicate of lenders on the Gate Tank 4 project.
  • Advised an undisclosed lender on the Pallas Reactor.
  • Assisted Aegon Investment Management with a new financing to Opcharge.

Pels Rijcken & Droogleever Fortuijn NV

The PPP and project finance practice at Pels Rijcken & Droogleever Fortuijn NV is heavily involved in a host of PPP/PFI projects throughout the Netherlands, acting on behalf of the State of the Netherlands. Other key matters the team handles including infrastructure energy and accommodation projects for the State as well as new contract forms for financing projects. The team also advises other public authorities as well as some corporate clients. Based in The Hague, practice head Mark Birnage excels in handling procurement and contracting of PPP projects. Recently promoted partner Jeanile Weyne is well versed in assisting with PPP projects and public procurement matters.

Praxisleiter:

Mark Birnage


Weitere Kernanwälte:

Jeanile Weyne; Maarten van Rijn


Referenzen

‘Deep understanding of the complex legal landscape combined with their innovative approach sets them apart from other firms. Ability to navigate the intricate regulatory environment and provide tailored solutions for each project. Expertise in structuring and negotiating complex deals, coupled with their commitment to client satisfaction, makes them a trusted partner.’

‘High-quality legal services, the team has the ability to think critically and out of the box.’

‘The lawyers who advised me are committed, knowledgeable and conscientious. They have an eye for both the strong and weak sides of a matter and are clear about them.’

Kernmandanten

Ministry of Infrastructure and Water Management, Rijkswaterstaat


Ministry of the Interior, Central Government Real Estate Agency


Ministry of Defence


Ministry of Healthcare, Welfare and Sport


Rijksdienst voor het Wegverkeer (RDW)


ProRail


Siemens Nederland


Aruba Airport Authority


Government of Aruba


City of Amsterdam


City of Rotterdam


City of The Hague


Province of Noord-Holland


Province of Limburg


Highlight-Mandate


  • Advised the joint project organisation of the Ministry of Infrastructure and Water Management, the city of Amsterdam and ProRail on the retendering of €1bn+ Zuidasdok project.
  • Advised Rijksdienst voor het wegverkeer (RDW) on the €300m main Service provider project for the Dutch HGV Charge road tolling system.
  • Advised the State of the Netherlands on the two-phase contract for the €1bn A27 Houten – Hooijpolder road project.

Stek

Stek‘s project finance matters are handled by finance, corporate and regulatory specialists. The team largely advises on renewable energy and digital infrastructure projects but also has expertise in biogas, geothermal, batteries, data centres, solar and fibre. The finance team is jointly led by Sharon Kaufmann and Herman Wamelink, while Claudia Beele, Reijnoud Homveld and Coen Thomas lead the corporate team. Lastly, Jan Erik Janssen heads up the regulatory practice.

Praxisleiter:

Sharon Kaufmann; Herman Wamelink; Claudia Beele; Reijnoud Homveld; Coen Thomas; Jan Erik Janssen


Referenzen

‘Stek has grown in the recent years in number of partners and associates, and in their professional skills. This has resulted in a more in-depth knowledge in certain sectors enabling Stek to deliver more added value to its clients.’

‘Dedicated team with strong hands-on knowledge of potential legal issues in PFI / project finance. They always try to balance the interests of all parties, which leads to quick and solid closing of the financing.’

‘Pragmatic and engaged.’

Kernmandanten

ABN Amro Bank N.V.


ASN Bank N.V.


BNG Bank N.V.


Commerzbank N.V.


Coöperatieve Rabobank U.A.


Dutch Grid Operators


ING Bank N.V.


Invest-NL Capital N.V.


Klimaatfonds


Nederlandse Waterschapsbank N.V.


Highlight-Mandate


  • Advised ABN Amro and ING on the financing of two biomethane plants of SFP Group.
  • Advised Glasdraad and the municipality of Edam/Volendam on the financing by ABN Amro of the glass fibre network for Edam & Volendam
  • Advised Dutch financial institution on its acquisition of a loan portfolio consisting of 14 solar and wind projects from another Dutch financial institution.

AKD

AKD‘s project finance team utilises its knowledge on real estate and construction matters to advise on project financing and PPPs. The team often advises on energy-related matters including solar-pv projects and offshore energy issues. Marc Wintgens is noted for his expertise in project finance and project development, assisting clients with negotiations, drawing up PPP contracts and advising on issues.

Weitere Kernanwälte:

Taco de Lange; Marc Wintgens; Joost Kil


Referenzen

‘The team is always involving another lawyer to be certain that the best person is advising on a specific matter.’

‘Taco de Lange had a lot of commercial expertise and is thus capable to really think along with our business. His practical approach is much appreciated.’

‘Knowledgeable professionals, proactive and pleasant to work with.’

Kernmandanten

Port of Rotterdam


VolkerWessels


DW Partners


Edge Technologies


WDP


Green Real estate


Development Company Greenport Venlo (DCGV)


M&G Real Estate


BAM


Philips


Janssen De Jong / Hercuton


Kaan Architects


Prologis


Skala Management Ltd


Rochdale


Stichting Portaal


Stichting Staedion


Stichting


Haag Wonen


Stichting Havensteder


Stichting Vestia Groep


Stichting Woonbedrijf


Stichting Ymere


Woonstichting ’thuis


Woningbouwvereniging


WonenCentraal Stichting Sint Trudo


Houthoff

Houthoff‘s Amsterdam and Rotterdam-based project finance team is led by Jessica Terpstra who is based in London but spends a large portion of her time in the Netherlands leading on financing and refinancing matters for infrastructure investments. The team advises lenders and sponsors on green energy and renewable projects and is also well-versed in advising on transport infrastructure financing. Michel Klijn resides in Rotterdam and excels in advising on construction projects and PPP.

 

Praxisleiter:

Jessica Terpstra


Weitere Kernanwälte:

Michel Klijn


Kernmandanten

OpenIJ B.V.


Kaltun Madencilik A


FCC Construcción


Milence


Highlight-Mandate


  • Advised the senior lenders, including JBIC, EIB, UK Infrastructure Bank, on the Dutch aspects of the £2.2bn financing of the 1.4 Gw NeuConnect Inter connector project.
  • Advised OpenIJ B.V. on finance and project related legal questions relating to the to the largest sea lock in Europe with a matter value of over €700m.
  • Advised FCC Construcción on the A9 Badhoevedorp – Holendrecht PFI project.

Van Doorne

Van Doorne‘s project finance practice sits within its wider real estate finance group which assists clients with project development, property transactions, financing and refinancing. The team regularly advises lenders and financiers and is also well-versed in PPP projects involving infrastructure and urban renewal. The team is co-led by real estate development financing expert Angelique Thiele who splits her time between London and Amsterdam and Roel Botter who sits in Amsterdam and leads on leveraged finance transactions.

Praxisleiter:

Angelique Thiele; Roel Botter


Weitere Kernanwälte:

Ariën van Hessen


Referenzen

‘We use Van Doorne in the Netherlands as our law firm of choice and collaborate them on templates etc.’

‘Angelique Thiele is one of our favourite lawyers to go to and we recommend Ariën van Hessen on the notary/real estate side.’

Kernmandanten

BentallGreenOak


DRC Savills IM


Barings / MassMutual


Wilmington Trust


Schroders


PGIM Real Estate


McArthurGlen Group


Berlin Hyp


NordLB


Garbe


Edmond de Rothschild


HCOB


OLB


Rax


AIG


Allianz


Rothesay Life


HSBC


Highlight-Mandate


  • Assisted Berlin Hyp with its financing of the redevelopment by EDGE of Ernst & Young’s Dutch headquarters in Amsterdam, the Cross-Towers.
  • Advised Wilmington Trust as incoming facility agent and security agent on the PPP financing of the consortium ‘De Groene Boog’ for the Dutch A16 motorway near Rotterdam.
  • Advised DRC Savills on exiting its investment in the Certitudo Amstel development, which was sold to Greystar.