The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:
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:
project documents (energy and operations, property, planning, environmental and construction),
project finance documents,
shareholder finance documents, and
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:
Finance Documents (assuming project finance is being provided)
Shareholder funding Documents
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
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