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March 16, 2023

Ben Shorten and Cynthia Urda Kassis Discuss Project Finance Recognitions with Law360


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Shearman & Sterling Global Project Development & Finance Practice Group Co-Leaders and partners, Ben Shorten and Cynthia Urda Kassis, discuss the project finance work that was recognized as part of Law360’s Practice Group of the Year – Project Finance Category, a prestigious award the global law firm received earlier this year.

The Project Finance team was recognized for its work on a wide range of matters, including:

  • Advising the lenders on the project financing for a $12.5 billion world scale integrated gasification and combined cycle energy project within the Jazan refinery and terminal complex in the Kingdom of Saudi Arabia.
  • Advising the lenders on the $652.3 million financing of the Central Termica de Temane power project in Mozambique. The entire value chain (gas development, gas fired power plant and transmission infrastructure) will see an investment of more than $2 billion.
  • Advising IFC and its parallel lenders on the refinancing of the Asahan-1 hydropower project in Indonesia. The new loan included a tenor extension and allowed for some of the proceeds to be used to pursue additional renewable energy projects.
  • Advising the lenders, comprising Sumitomo Mitsui Banking Corporation, ING Bank NV, DBS Bank Ltd, Bank of China Limited, Mizuho Bank Limited and Société Générale, on the refinancing of the 220 MW Bhola Combined Cycle Gas Turbine project in Bangladesh.
  • Advising the U.S. Department of Energy on an c. $1.4 billion loan to Monolith for the largest turquoise hydrogen project in the world.

Commenting on the depth and breadth of the practice, Cynthia Urda Kassis said that Shearman & Sterling is uniquely placed in terms of industry coverage in a world of energy transition, climate change, and technology innovation.

That’s one of the things that differentiates us, it’s that we’re global but not overly large, which means we have a degree of integration that a lot of the firms don’t have,” added Ben Shorten.

Shearman & Sterling was also recognized as Practice Group of the Year in the Environmental category. Read more about the recognition here.

Read “Project Finance Group Of The Year: Shearman.”

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First Appeared in Law360.

Authors and Contributors

Cynthia Urda Kassis


Project Development & Finance

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