The International Comparative Legal Guide - Project Finance 2023

Welcome to the 2023 edition of ICLG - Project Finance. As the Contributing Editor, I am
absolutely delighted to introduce the latest edition of this comprehensive global guide
to international project finance.
Notwithstanding ongoing global macroeconomic challenges, project finance activity has
continued strongly across the world, with some remarkable projects achieving financial
close over the last year. With the recent opening up of international travel, principals and
their advisers have been able to meet in person, although negotiations by Zoom, Webex
and other means of conducting virtual meetings have certainly continued. With the world
doing its best to put COVID-19 behind it, there is huge pent-up demand for the financing
of energy and infrastructure projects, particularly in the context of the ongoing Energy
Transition. In 2023, a significant numbers of renewable energy projects will be joined by a
large number of electric vehicle battery manufacturing projects, green steel projects, green
hydrogen and ammonia projects, and in the mining sector, a number of battery metals
projects are likely to be closed. By and large, the legal profession has responded well to
the changes in the market and has continued to facilitate the development and financing
of billions of dollars of projects, whilst assisting clients to overcome many additional
complex issues arising from the higher interest rate environment.
Like its prior editions, this Guide provides valuable guidance and insights into the complex
legal issues that arise in the context of project financings in 21 different jurisdictions.
Adopting a Q&A format, the chapters address each legal system's approach to the
questions which are commonly encountered in the context of project finance. It also
includes one expert analysis chapter, which considers Why the World Needs Multi-sourced
Project Financings (and of course project finance lawyers!).
I am truly honoured to be a part of this group of distinguished specialists to provide
this authoritative guide, and I would like to thank all of the contributors for sharing
their deep knowledge and expertise. I very much hope that you enjoy consulting the
guide and that you find it to be useful and insightful.