Projects lawyers’ completion documents list—waste to energy projects (merchant)—with document explanations
Projects lawyers’ completion documents list—waste to energy projects (merchant)—with document explanations

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • Projects lawyers’ completion documents list—waste to energy projects (merchant)—with document explanations
  • Introduction
  • A. Project Documents
  • B. Finance Documents (assuming project finance is being provided)
  • C. Shareholder funding Documents
  • D. Key ancillaries, reports and legal opinions

Introduction

This Practice Note provides a list of the key documents typically seen on financial completion of a merchant waste to energy project, with a brief explanation of the nature of each of these documents. It is drafted on the basis of a primary deal, where a special purpose vehicle (SPV) (typically referred to as ‘ProjectCo’ and referred to as ProjectCo in this Practice Note) owns and finances the project and where:

  1. project documents (energy and operations, property, planning, environmental and construction),

  2. project finance documents,

  3. shareholder finance documents, and

  4. associated due diligence reports, legal opinion and other ancillaries

are being entered into/provided at close. However, this documents list can also be used as a point of reference for use in a secondary market merchant waste to energy project deal, given many of the documents requiring review and/or amendment will be the same.

For an accompanying template version of this completion documents list, without document explanations, suitable for use at completions, see Precedent: Project lawyers’ completion documents list—waste to energy projects (merchant)—template.

This documents list is split into the following sections:

  1. Project Documents

  2. Finance Documents (assuming project finance is being provided)

  3. Shareholder funding Documents

  4. Key ancillaries, reports and legal opinions

The Project Documents referred to allow for the project generating electricity and/or heat, the technology involved to be anaerobic digestion (AD), waste incineration or