Topic
Infrastructure Projects
150 published works
E2 Law Blog
Congress Adopts “FAST Act,” Seeking Expedited NEPA Review For Major Infrastructure Projects
Review under the National Environmental Policy Act (“NEPA”) can be one of the most costly and time consuming components of any federal project or action. Often, the hurdle of NEPA…
Mineral Law
New Law Streamlines Federal Permitting and Environmental Review Processes
Major infrastructure developers received a notable holiday gift from Capitol Hill and the White House earlier this month with the December 4, 2015 enactment of the Highway Authorization Act. Title…
Global Policy Watch
China, the Middle East and the Global Economy–Where Might the “Silk Road” Lead?
China clearly wants to use its enormous financial capacity to secure access to resources, to create good jobs for its huge population, to enhance its strategic clout and to spur…
Cov Africa
An In-Depth Look at the Candidates for African Development Bank President
In a few months’ time, the African Development Bank (“AfDB”) Board of Governors will vote to decide the successor to President Donald Kaberuka whose presidency comes to an end on…
Government and Public Policy
P3 Hub South Live Blogging – Join the Conversation
By Carly Grimm, Albert E. Dotson, Jr.
Bilzin Sumberg, in partnership with P3 Bulletin, is proud to host P3 Hub South, a two-day conference bringing together top national and international players in the public sector, including U.S.…
Global Policy Watch
Are Chinese Companies Retooling in Africa?
Chinese companies are adopting new approaches to investing in Africa. These changes, if they become widespread, will boost the positive impact of China on Africa's development agenda and improve how…
China Law Insight
境外PPP项目模式的风险管控
By King & Wood
作者：田文静 Meg Utterback, Paul Starr, James Forrest 金杜律师事务所 近30年来，公共私营合作模式（Public Private Partnership，下称“PPP项目模式“）在世界各地，尤其是基础设施需求巨大的发展中国家蓬勃发展，广泛应用于电站、机场、港口、收费公路、隧道、地铁、供水和污水处理设施等投资大、建设周期长的公益型和运营型基础设施项目。通过PPP项目模式，私营组织为公共部门的设施和服务提供投融资、建设、运营维护并因此获得合理回报，公共部门则缓解了资金压力并将项目风险转移给私营组织。根据公共部门和私营组织的投入及合作程度，以及双方之间不同的风险分担机制，PPP项目模式可进一步分为建设——拥有——运营——移交模式（即“BOOT模式”）、建设——拥有——运营模式（即“BOO模式”）、建设——运营——移交模式（即“BOT模式”）等多种类型。 PPP项目模式的参与方众多，主要包括东道国政府、产品/服务的购买人、投资者、项目公司、贷款人、EPC承包商、运营维护商、原材料供应商等，相互权利义务及合作关系复杂。投资者在PPP项目模式下几乎承担了从提出项目建议、进行特许权协议谈判、项目融资、与EPC承包商进行设计施工合同招标和谈判、竣工验收、项目投入商业运营、运营维护并最后移交给东道国政府等项目全生命周期的所有工作。这些特点决定了投资者采用PPP项目模式“走出去”的过程中面临比传统工程承包模式（例如EPC模式）更多的风险。 鉴于电站项目是中国投资者在境外实施PPP项目模式的典型业务领域，下文我们将从中国投资者角度，结合某国电站PPP项目案例提出并分享电站PPP项目模式的风险管控建议。 电站PPP项目的风险概述 电站PPP项目的风险主要包括政治风险、建设运营风险、商业风险、不可抗力风险以及金融风险等。 1. 政治风险 电站PPP项目政治风险一般指项目东道国的政治条件、法律制度发生变化或者有关政府行为而导致电站项目失败、项目投资不能回收或回报降低等方面的风险。政治风险主要包括：（1）东道国政权出现动荡与更迭；（2）项目公司的资产、股权被征收或国有化；（3）法律不完善及法律变更，主要指在外商投资、税收、劳动、外汇管制及环保等重要方面缺乏清晰法律规定，给投资者收回投资带来困难及不确定性，或相关法规出现对投资者及项目公司不利的变更，导致成本增加、收益降低乃至项目违法或不可行等后果；（4）东道国政府违约，指东道国政府/电力购买人拒付电价、暂停项目、终止合同等行为。 2. 建设运营风险 电站能否按期建成、投入商业运营并按照设计指标进行发电是投资者收回投资和获取利润回报的核心。因此，电站因成本超支、延期完工或者完工后无法达到预期电量及运行维护标准所产生的建设运营风险是电站PPP项目的核心风险。该等风险对项目的负面影响主要表现在建设成本的增加、贷款偿还期限的延长、利息支出的增加以及市场机会的错过，甚至导致整个项目的失败。 3. 商业风险 电站PPP项目的商业风险一般指因东道国电力市场经济条件出现变化或因项目公司经营决策失误而导致项目不能获得正常收益的风险，主要包括：（1）电力市场需求量下降；（2）电价下降；（3）建造成本和运营维护成本的增加，例如原材料价格、设备费用、人工费用上涨、出现通货膨胀等。 4. 不可抗力风险 电站PPP项目的不可抗力事件指当事人所不能预见、不能避免并且不能克服的事件，通常包括自然事件和社会事件。不可抗力容易造成工程事故、停工或损害，导致电站建设工期延误、工程成本增加甚至项目终止的严重后果。 5. 金融风险 电站PPP项目的金融风险主要表现为外汇风险和利率风险。外汇风险是指在东道国当地获取的电价收入不能按预期汇率兑换成外汇、外汇汇出受到限制以及汇率变化等风险。利率风险主要是指由于项目相关国家的金融市场利率发生波动（特别是发生与预测情况相反的变化）时造成的投资者需要增加融资成本的风险。…
China Law Insight
Managing Risk and Avoiding Disputes in Global Infrastructure Projects
By King & Wood
By Meg Utterback Holly Blackwell King & Wood Mallesons’ Dispute Resolution Group The risks faced by investors, owners and contractors on large infrastructure projects in Asia, South America, Africa and other…
Government and Public Policy
Canada’s P3 Success
Guest blog post written by Marc-André Hawkes, Senior Trade Commissioner, Canadian Consulate General in Miami. Thinking of Canada conjures up a variety of images. Some will picture soaring mountains and crystal clear lakes surrounded…
frESH
Western Australia State Supreme Court Decision Puts Multiple Mining and Infrastructure Projects At Risk of Being Considered Unlawful
The Western Australia State Government has announced that 25 major mining and infrastructure projects are at risk of being considered unlawful. This announcement follows a State Supreme Court decision which…