South Africa: Project Finance/PPP & PFI

Herbert Smith Freehills' Africa practice continues to perform strongly in the 2024 edition of Chambers Global, with top tier rankings in the following Africa-wide categories...

Earlier this year, a consortium led by Infinity Energy and Masdar acquired onshore wind platform Lekela Power from emerging markets private equity powerhouse Actis...

As countries round the world move to decarbonise in line with Paris Agreement commitments, governments are recognising the pivotal role to be played by private capital...

The move towards becoming "green" has continued to gain momentum in different sectors of the business world. Signatory banks throughout the world have taken up the call to become environmental stewards and to promote socially responsible development by adopting voluntary principles known as the Equator Principles, and becoming Equator Principles Financial Institutions.

In 2000, the PPP Unit of National Treasury published the first draft of the standardised terms for public private partnership (PPP) agreements ("Standardisation"). At the time that the Standardisation was first published for comment a number of concerns were raised by various entities involved in PPPs, including law firms, banks, construction entities and service providers.

The question whether there can ever be a recoupment by a partner to the extent that he disposes of his interest in a partnership as opposed to a partnership disposing of assets, has always been contentious. In this context it was always contended by taxpayers that there cannot be a recoupment to the extent that a partner disposes of a partnership interest, even though a partnership is not a separate legal entity and income that has accrued to partners in common is deemed to have accrued to each