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Project finance is a funding structure where lenders primarily rely on the cash flows generated by a project rather than the general assets of the sponsors. An SPV, or special purpose vehicle, is created to own the project and ring-fence its assets and liabilities. In Curvelo, as in Minas Gerais and across Brazil, project finance typically involves robust off-take agreements, performance guarantees, and detailed risk allocations negotiated among sponsors, lenders, off-takers, and contractors.
For Curvelo and other municipalities, the legal framework blends federal laws with local procurement rules. Federal statutes such as laws governing public-private partnerships, concessions, and public procurement shape how projects are structured, financed, and closed. The process often includes environmental licensing, land rights due diligence, and regulatory approvals specific to the project sector.
Key features you will encounter in Curvelo include SPV formation, debt and equity split, intercreditor agreements, and security packages tailored to project cash flows. A local attorney skilled in project finance can translate these features into a contract package that aligns with Curvelo's procurement rhythm and Minas Gerais environmental requirements.
Source: Planalto - Lei 11.079/2004 (PPP framework) https://www.planalto.gov.br/ccivil_03/leis/L11079.htm
Source: Planalto - Nova Lei de Licitações (Lei 14.133/2021) https://www.planalto.gov.br/ccivil_03/_ato2019-2022/2021/lei/L14133.htm
Having a local project finance attorney reduces procurement delays, clarifies risk allocations, and helps ensure lawful closing under Curvelo’s municipal and state context. For complex sectors, you will benefit from a lawyer who understands SPV structuring, bankable contracts, and environmental compliance.
Source: BNDES guidance on project finance and SPVs in infrastructure projects https://www.bndes.gov.br/wps/portal/site/home
Brazilian project finance in Curvelo is governed primarily by federal laws that set the framework for public-private partnerships, concessions, and public procurement. These laws apply uniformly across states and municipalities, including Curvelo in Minas Gerais.
In addition, licensing and environmental oversight often involve federal agencies such as IBAMA and sector regulators. The environmental licensing process can be coordinated with state and municipal agencies in Minas Gerais, depending on the project type.
Source: Planalto - Lei 11.079/2004 and Lei 14.133/2021 summaries https://www.planalto.gov.br/ccivil_03/leis/L11079.htm • https://www.planalto.gov.br/ccivil_03/_ato2019-2022/2021/lei/L14133.htm
Project finance uses a dedicated SPV to own the project and repay debt from project cash flows. The structure emphasizes off-take arrangements and risk allocation among sponsors, lenders, and contractors, with lenders relying on the project rather than the sponsors' assets.
Lenders assess the project economics, off-take agreements, and the SPV's governance. A local attorney can prepare a bankable structure and ensure compliance with federal law and Curvelo procurement rules.
The SPV isolates project risks and liabilities, enabling lenders to fund the project from its cash flows. It also centralizes contracts and permits into a single corporate entity for clarity and enforcement.
11.079/2004 applies when Curvelo engages in a PPP with a private partner for delivering a public service or infrastructure. It outlines structure, risk sharing, and procurement steps.
Official guidance is published by federal authorities through Planalto and local procurement portals. Check the municipal site and the federal plan to align with national standards.
Environmental licensing protects public health and natural resources. The licensing body depends on project type and location, with IBAMA and state agencies playing roles in different cases.
Yes, refinancing is common to reduce financing cost or adjust covenants. This requires due diligence on existing security packages and consent from lenders.
Inclusion supports local content goals and risk sharing. Counsel helps ensure procurement rules are followed and that local content requirements do not Unduly constrain project economics.
Yes, local counsel understands Curvelo practices, municipal deadlines, and the applicable public procurement regime. They help navigate bid challenges and contract execution.
Yes, 14.133/2021 governs most new procurement and contract practices in Brazil, including PPPs and concessions. It provides updated procedures, risk allocation, and oversight rules.
Timelines vary by project type, but a complete cycle from sponsor decision to closing commonly spans 12 to 36 months, depending on licensing and bidding complexity.
Project finance is secured by project cash flows via an SPV, not the sponsors' balance sheets. Corporate loans rely on sponsor credit and guarantees for repayment.
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The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation.
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