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Our practice is a market leader. We have acted in all the major projects to have taken place in Greece, including the Trans Adriatic Pipeline, the Greek Motorways, and the pioneering Rion-Antirion Bridge and Athens Ring Road (Attiki Odos) projects, which opened the concessions market.

knowledgeable, timely responses, market awareness, can communicate efficiently with lenders, commercial and doers

IFLR 1000 2017

the exceptional practice at Bernitsas Law is one of the best in Greece

The Legal 500 EMEA 2017

the lawyers have a very good understanding of how finance contracts work in practice

Chambers Europe Guide to Europe's Leading Lawyers for Business 2016

a firm at the top of the Greek market ... in-depth industry knowledge

The Legal 500 EMEA 2016

We advise all market participants and count the international financing institutions, major lending banks, commercial financiers, consortia, project sponsors, construction companies, bidders and contractors with an active presence in Greece among our clients. We have acted for the EIB and the State, as well as tendering authorities. Our aim is to provide creative solutions which cater to the needs of our clients, their concerns and priorities.

Project Finance

The bulk of our work in this sector is in complex domestic and cross-border transactions and our practice is known for leading pioneering projects in numerous sectors including the energy, resources, infrastructure, transport, oil and gas, waste management and telecommunications industries. Whether it is the motorways or hydrocarbon exploration, our team is in an ideal position to advise on the structuring, documentation, transactional, risk and compliance aspects of each project.

Public Private Partnerships (PPPs)

We advised on the first PPP Projects launched in Greece, which included the development of primary and secondary schools and universities and the construction of hospitals. We were instrumental in preparing the first law dealing with works and services concession projects for the Ministry of National Economy and the law on Public-Private Partnerships.

Who to contact

Contact Panayotis
Contact Yannis

Recognitions

  

Concession of 14 Regional Airports

Bernitsas Law is advising Intrakat in their entry into two EPC (engineering, planning and construction) agreements, with a total value of €357m, with Fraport Greece for the implementation of construction studies and works at 14 regional airports on the mainland and islands. Under a 40-year concession, Fraport Greece will undertake the management, operation, upgrade and maintenance of the airports.

Trans Adriatic Pipeline AG (TAP) Project

We are advising the finance parties on the project financing of TAP’s development of a c.871km gas pipeline connecting to the Trans-Anatolian Natural Gas Pipeline from the Greek/Turkish border and running through Greece and Albania to Italy, connecting with the Italian natural gas distribution system near San Foca under the sponsorship of AzTap GmbH, Snam Spa, BP Gas Marketing, Fluxys Europe Enagas Internacional, S.L.U. and Axpo Trading.

Completion Agreement for Elefsina-Corinthos-Patra Motorway

Bernitsas Law advised the Concessionaire (sponsored by a consortium of foreign and local major construction companies including Vinci and Hochtief PPP Solutions and Ellaktor) on the conclusion of an agreement with the State for the completion of the Olympia Odos motorway project (design, build, financing, operation and maintenance of the Elefsina-Corinthos-Patra stretch of the PATHE motorway) with a construction value of €2.4bn.

Development of the New Heraklion Airport (Kastelli)

We advised Vinci and Aktor in relation to their participation in the public tender for the award of a concession contract for the design, construction, financing, operation, maintenance and exploitation of the new international airport at Heraklion, Crete and design, construction, financing of its road accesses.

Tender for the Exploration and Exploitation of Hydrocarbons – Onshore Western Greece

We are advising Hellenic Petroleum in its capacity as preferred bidder in the tender process relating to the Onshore Block Areas of Arta – Preveza and Northwest Peloponnese. This is the second series of tenders for the exploration and production of hydrocarbons in Greece after the success of the open door tenders in 2014.

International Licensing Round for the Exploration and Exploitation of Hydrocarbons – Offshore Greece

We are advising Hellenic Petroleum, acting either alone or as a member of a consortium with other international oil majors, in its participation to the tender process with respect to certain Offshore Blocks of Western Greece and the South of Crete.

Open Door Tenders for the Lease of Hydrocarbons Exploration and Production Rights

We advised the Hellenic Republic (Ministry of Environment Energy & Climate Change) in their open door tenders for the lease of hydrocarbons exploration and production rights in three areas of Western Greece.

€40.3m Passengers’ Information and Fleet Management ICT System PPP

We advised a consortium comprised of Intrasoft International and Intrakat Constructions in the development of the project for the design, finance, installation, operation, maintenance and facilities management of a passengers’ information and fleet management ICT system for the Organisation of Transportation through a PPP.

€70m Serres Waste Management PPPs

We are advising a consortium comprised of Archirodon Group, Intrakat Constructions and Envitec on the developing and financing of a c€70m project for the design, finance, installation, operation and maintenance of integrated waste management systems for Serres through public private partnerships.

€60.3m PPP for Development and Financing of Broadband Infrastructure in Rural Areas

We advised a consortium comprised of Intrakat Constructions, Intracom Holdings and Hellas On Line in their entry into a concession contract with the Society of Information for the development and exploitation of broadband infrastructures in rural areas of Greece (LOT 2) through a PPP. We continue to advise on the implementation of the PPP.

€70m Ilia Waste Management PPP

We are advising The National Bank of Greece, Alpha Bank and JESSICA as the lenders to the winning consortium of the project for the design, finance, installation, operation and maintenance of integrated waste management systems for the Ilia region through a public private partnership, with a transaction value of c€70m.

Elefsina-Corinthos-Patra Motorway Restructuring

We advised the Concessionaire (sponsored by a consortium of foreign and local major construction companies including Vinci and Hochtief PPP Solutions and Ellaktor) on the restructuring of the Olympia Odos motorway project (design, build, financing, operation and maintenance of the Elefsina-Corinthos-Patra stretch of the PATHE motorway) with a construction value of €2.4bn.

Maliakos-Kleidi Motorway Restructuring

We advised a syndication of lending banks, with Credit Agricole acting as inter-creditor agent, on the restructuring of the Maliakos-Kleidi motorway project (design, build, finance, operation and maintenance) with a construction value of €1.7bn.

437MW Thermal Power Station Development Financing in Corinth

We advised Korinthos Power, a joint venture company of Mytilineos Group and Motor Oil Hellas, in the c€175m financing of a 437MW thermal power station development in Corinth.

€105m Refinancing of 444 Mw CCGT Power Plant Financing

We advised Protergia in the c€105m refinancing by their parent company, the Mytilineos Group, of the 444 MW CCGT power plant operated by Protergia in Viotia.

Peloponnese Waste Management PPPs

We represented a consortium comprised of Archirodon Group, Intrakat Constructions and Envitec in its participation in public tenders for the design, financing, installation, operation and maintenance of integrated waste management systems for the Peloponnese through a public private partnership.

€60m Larnaka Airport Fuel Hydrant System Development Financing

We represented the National Bank of Greece in the c.€60m financing of the Larnaka International Airport Fuel Hydrant System.

€55.4m Renewable Energy Projects

We advised Unicredit Bank (formerly HypoVereinsbank) in the €55.4m financing of EEN Viotia, a subsidiary of PPC Renewables – EDF EN Greece, for three renewable energy project developments.

€50m Corinth and Trikala Municipal Buildings PPP

We advised Unicredit Bank and HSBC in the €50m financing of the contractor, a subsidiary of J&P Avax, of the design, construction, financing, maintenance and management project of the Corinth and Trikala Municipal Buildings through a public private partnership.

Unicredit Restructuring of Energy Developments

We advised Unicredit Bank in the restructuring of the Anemos Makedonias and Aeolos Fthiotidas (subsidiaries of RenInvest) financing for two wind farm developments.

DEPANOM Hospital PPP

We advised the Public Company for the Construction of Hospitals (DEPANOM) on the design, construction, financing, maintenance and management of two hospitals in Thessaloniki through a public private partnership.

Marfin Bank Solar and Wind Energy Financings

We advised Marfin Bank in the financing of Hypato Energeiaki for a 3MW solar energy project development in Thebes, of Heliosar for two solar energy project developments in the Peloponnese and of Aioliki Energiaki Trizinias for a c.€11m wind park development in the Peloponnese.

Medical Rehabilitation Center PPP

We advised the State-owned Health Units Company (AEMY) in its capacity as the awarding authority on the design, construction, financing and maintenance of a medical rehabilitation centre in Northern Greece through a public private partnership.

c€69m Organisation of School Buildings PPP

We advised the Organisation of School Buildings in its capacity as the awarding authority on the c€69m design, construction, financing and maintenance of school buildings in Attica through a public private partnership.

€89.4m PPP for Development and Financing of Halls of Residence

We advised the Universities of Thrace and Peloponnese, through the Special Secretariat for Public Private Partnerships, in their capacity as the awarding authorities, on the design, construction, financing and maintenance of halls of residence in various cities of Greece through public private partnerships.

Thessaloniki Port Container Terminal Tender

We advised a joint venture of Greek and international companies in their participation in the public tender for the concession of the Thessaloniki Port container terminal.

  • project structuring and implementation
  • laws and regulations governing tender procedures
  • terms of concession and partnership agreements and ratifying laws
  • terms of project agreements and sub-contracts
  • development of effective financing and security packages
  • setting up of special purpose vehicles and joint ventures to accommodate new projects
  • implications and effect of national and EU legislation on projects and PPPs