We advise infrastructure funds, debt funds, banks, industrial operators and public authorities on acquisitions, disposals, financing transactions, concession procedures and public-private partnership (PPP) projects involving regulated infrastructure assets.

Our experience includes:

• Acquisitions and disposals of infrastructure assets across the energy, transport & logistics, digital, healthcare, education, social and sports sectors;

• Advising public authorities throughout procurement procedures, concession awards and PPP transactions;

• Structuring and negotiating project finance and structured finance transactions for concession-based infrastructure projects;

• Coordinating integrated legal due diligence covering permitting, regulatory, contractual and compliance matters, including change-of-control and concession transfer issues;

• Advising throughout pre-closing and post-closing phases, including regulatory conditions precedent, interim management arrangements, warranty and indemnity matters;

• Structuring joint ventures and co-investment platforms between public and private investors.

We support clients throughout the development and permitting phase, which frequently represents the key value driver and principal risk factor of infrastructure investments.

Our assistance includes:

• Environmental and permitting procedures (including EIA, SEA and Appropriate Assessments) for energy infrastructure, data centres, transport infrastructure and social infrastructure.

• Regulatory and permitting aspects relating to grid connection for both electricity injection and withdrawal.

• Construction, operation and public service concessions, including maritime, port and airport concessions, as well as network and public utility concessions.

• Representation before public authorities and independent regulators, including ARERA, AGCOM, ART, AGCM, the Italian Data Protection Authority, ACN, ANAC and the Ministry of Economy and Finance.

• Assistance in dealings with local authorities, Superintendencies and public administrations within complex administrative proceedings and services conferences.

• Advice on public grants, incentives, subsidies and financing available for the construction and operation of infrastructure assets.

We structure and negotiate the principal contractual framework governing infrastructure investments, combining market knowledge with a strong focus on bankability.

Our experience covers:

• FIDIC, EPC, EPCM, O&M, supply and service agreements.

• Power Purchase Agreements (PPAs), Corporate PPAs, Biomethane Purchase Agreements, Tolling and Optimisation Agreements and self-consumption arrangements.

• Public procurement contracts, concession agreements and PPP documentation.
  • Project finance documentation, intercreditor agreements and security packages.
  • Joint venture agreements, shareholders' agreements and governance arrangements for infrastructure investment vehicles.

Regulatory expertise is embedded in every mandate handled by the Focus Group rather than being treated as a stand-alone discipline.

We advise on:

• Energy regulation, including electricity, natural gas, district heating, hydrogen, biomethane, ETS and carbon markets;

• Regulation of critical infrastructure;

• Port, rail and airport regulation;

• Public procurement and PPP legislation;

• Administrative law issues affecting infrastructure projects, including expropriation, easements and strategic national infrastructure procedures.