The International Comparative Legal Guide - Project Finance 2025: 14

Welcome to the 2025 edition of the 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 the 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 much of the world focused on the
Energy Transition, there is huge pent-up demand for the financing of energy and
infrastructure projects. In 2025, significant numbers of renewable energy projects
will be joined by a large number of electric vehicle battery giga-factory projects, green
steel, green aluminium, green cement, green hydrogen and ammonia projects, and in
the mining sector a number of battery metals projects are likely to be closed. We have
also seen an explosion of data centre and chip manufacturing projects, which will
likely be driven by the huge expansion of the application of Artificial Intelligence (AI).
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 the prior editions, this guide provides valuable guidance and insights into the
complex legal issues that arise in the context of project financings in 15 different jurisdictions.
Adopting a Q&A format, the chapters address each legal system's approach
to the questions that are commonly encountered in the context of project financings.
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 part of this group of distinguished specialists to provide
this authoritative guide, and I would like to thank all contributors for sharing their
deep knowledge and expertise. I very much hope that you enjoy consulting the Guide
and that you will find it to be useful and insightful.