The International Comparative Legal Guide - Project Finance 2026: 15

Welcome to the 15th 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.
Despite 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 the continued focus on the energy transition in many
parts of the world, there is a huge pent-up demand for the financing of energy and
infrastructure projects. In 2026, significant numbers of renewable energy projects
will be joined by numerous energy transition projects, including 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. The digital sector
is also set for continued growth, with the ongoing development and financing of data
centres and chip manufacturing projects, driven by the huge expansion of artificial
intelligence. 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 recent economic turbulence.
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 17 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
Project Bonds' (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 of the 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.