Best Project Finance Lawyers in Lamia

1. About Project Finance Law in Lamia, Greece

Project finance in Lamia operates under Greek national law with EU regulatory influence. A typical structure uses a special purpose vehicle (SPV) to own and operate the project while lenders base their financing on the project's cash flows. Security packages, including mortgages and pledges, back the financing and lenders may require assignments of contracts and licenses. Local authorities in Central Greece and Lamia Municipality handle permits, land-use approvals, and environmental clearances that affect the project timeline. Recent trends include clearer guidance on PPPs and more streamlined public procurement processes within Greece.

In practice, projects in Lamia commonly involve energy, infrastructure, and public-service concessions. Key documents include off-take agreements, engineering, procurement and construction (EPC) contracts, and operation and maintenance (O&M) agreements. The legal framework blends Greek contract and corporate law with European public-procurement standards. Project participants should plan for both commercial risk and regulatory risk from the outset.

Greece relies on a PPP and public procurement regime shaped by Law 3389/2005 and the Public Procurement Code Law 4412/2016 to regulate project finance transactions.

Source: gov.gr

SPV-based structures are widely used in Greece for energy and infrastructure projects to isolate risk and enable lender recourse to project cash flows.

Source: ipfa.org

The European Investment Bank has supported Greek infrastructure projects through lending and technical assistance, reflecting a broader European approach to project finance in Greece.

Source: eib.org

2. Why You May Need a Lawyer

Engaging a lawyer early helps structure a compliant and bankable project. The following real-world scenarios in Lamia commonly require legal counsel.

• You are negotiating a term sheet for a Lamia solar farm and a long-term Power Purchase Agreement (PPA). A lawyer can translate commercial terms into enforceable contracts and identify security gaps.
• You are forming an SPV and negotiating intercreditor terms with multiple lenders. Counsel ensures priority of claims and consistency across all financing documents.
• You face environmental licensing and EIA requirements from the Region of Central Greece and Lamia Municipality. Legal help helps align permits with project timing and budget.
• You are bidding on a public works concession or PPP project. A lawyer advises on procurement rules, bid consistency, and risk allocation in awards and contracts.
• You have cross-border equity or lenders involved. Local counsel helps navigate Greek corporate requirements, tax implications, and repatriation issues.

3. Local Laws Overview

Greece maintains a national PPP and public procurement framework that governs project finance deals in Lamia. Two core statutes frequently cited are:

• Law 3389/2005 on Public-Private Partnerships (PPP) and Concessions. This law provides the baseline framework for structuring and approving PPP projects and long-term concessions in Greece. Effective since 2005, it has been amended to stay aligned with EU directives.
• Law 4412/2016 on Public Procurement and Concessions (Public Procurement Code). This code governs procurement processes, concession awards, and related dispute resolution, with updates to reflect EU best practices. It is the primary reference for tendering, evaluation, and contract formation in Greece.
• Law 1650/1986 on the Environment, with later amendments. This statute underpins Environmental Impact Assessments (EIA) and related licensing for projects that may affect the environment in Lamia and the broader Central Greece region.

In Lamia, local implementation also depends on regional and municipal regulations managed by the Region of Central Greece and Lamia Municipality. Applicants should anticipate environmental approvals, land-use permits, and zoning checks as part of project development. Recent changes emphasize clearer procurement procedures and improved digital processes for efficiency in licensing.

Note: Always verify the current text of these laws and any amendments, as Greek legislation evolves with EU directives. See official government and professional sources for the latest versions.

Public procurement and concession rules in Greece are continually updated to reflect EU directives and national policy goals.

Source: gov.gr

4. Frequently Asked Questions

What is project finance and how does it work in Lamia, Greece?

Project finance uses an SPV to own the project, with lenders repaid from project cash flows rather than sponsor assets. The loan is secured by project contracts, warranties, and collateral. This arrangement requires robust off-take agreements and careful risk allocation among participants.

How do I structure an SPV for a Lamia project?

An SPV isolates project risk from sponsors. It typically signs EPC, O&M, and offtake contracts, while lenders obtain security interests over SPV assets. Local filings and corporate formalities ensure the SPV is properly established under Greek company law.

What is the difference between a loan agreement and a security package in Greece?

A loan agreement outlines repayment terms and covenants. The security package includes mortgages, pledges, assignments of contracts, and guarantees that protect lenders in case of default.

What permits are usually required for a Lamia infrastructure project?

Projects typically require land-use permissions, environmental approvals, and construction licenses. The Region of Central Greece and Lamia Municipality review permits and may impose conditions tied to environmental and public-interest standards.

How long does a typical Lamia project finance deal take to close?

From initial term-sheet signing to signing and funding, 6 to 12 months is common for complex energy or infrastructure projects. Delays often arise from environmental reviews and procurement approvals.

Do I need local counsel in Lamia for a project finance deal?

Yes. Local counsel brings insight into regional permitting processes, local government practices, and regional taxes or incentives. They coordinate with national lawyers to align documents with Greek law.

What is the role of an intercreditor agreement in Lamia projects?

The intercreditor agreement manages priority among lenders and debt service priorities. It clarifies rights during default, enforcement, and distribution of proceeds from the project SPV.

What are typical costs I should expect for legal services?

Fees vary by project size and complexity, but planning for due diligence, document drafting, and negotiations is essential. Lawyers may bill hourly or offer package pricing for phased work.

Can the Lamia municipality influence project approvals?

Municipal authorities can affect licensing timetables and land-use permissions. Early engagement with the municipality can resolve issues before tendering or construction begins.

Is the Greek government providing any incentives for energy projects?

Greece offers incentives and subsidies under national and EU programs for renewable energy. Counsel helps identify applicable grants, tax reliefs, and eligibility requirements.

What happens if a project misses a financial milestone?

Strained covenants may trigger remedial actions or cross-default provisions. Lenders and sponsors should have a plan for renegotiation, restructuring, or refinance options.

Should I sign a non-disclosure agreement before negotiations?

Yes. A non-disclosure agreement protects sensitive commercial information during early negotiations and due diligence steps with Lamia partners and lenders.

What is the typical timeline to obtain an environmental permit in Lamia?

Environmental permits often take 6 to 12 months, depending on project scope and public interest. Early environmental scoping reduces risks and helps align financing timelines.

5. Additional Resources

Access to reliable guidance and official materials helps ensure compliance and faster deal closure. Consider the following authoritative sources:

• gov.gr - Official Greek government portal with information on public-private partnerships and procurement rules. gov.gr
• International Project Finance Association (IPFA) - Industry standards, best practices, and professional guidance for project finance practitioners. ipfa.org
• European Investment Bank (EIB) - Financing and advisory support for Greek infrastructure projects; policy and project finance analysis. eib.org

6. Next Steps

1. Define the project scope and identify the primary market sector (eg, solar, wind, or infrastructure) specific to Lamia and Central Greece.
2. Engage a Lamia-based legal team with experience in project finance and local permitting processes. Schedule an initial consult within 2 weeks of project concept.
3. Collect and organize project documents such as permits, land titles, grid interconnection agreements, and preliminary EPC/O&M contracts. Complete due diligence within 4-6 weeks.
4. Draft a term sheet with input from lenders, sponsors, and local counsel. Allocate risk and outline key conditions precedent and security packages.
5. Prepare SPV incorporation, governance documents, and initial intercreditor terms. Confirm tax and corporate structuring with Greek tax counsel.
6. Coordinate environmental and licensing milestones with Region of Central Greece and Lamia Municipality. Build a realistic timeline for approvals alongside construction plans.
7. Negotiate and finalize the financing agreements, including loan agreements, security documents, and off-take arrangements. Plan for a 8-12 week close window after all conditions are met.