Alison Babbitt is an associate in Gowlings' Ottawa office. A member of the Firm's Business Law department and Energy and Infrastructure Industry Groups, Alison has worked on numerous infrastructure projects advising lenders, export credit agencies and sponsors.
An English qualified project finance solicitor, Alison has extensive experience advising sponsors and lenders on a wide variety of international project financings, including those in the United Kingdom, Finland, Middle East and Africa. The scope of her international work includes having most recently advised lenders such as export credit and multilateral agencies on numerous transactions across a number of industry sectors.
She was involved in the first LNG project financing in the Yemen, advising the lenders on the refinancing of a power project in Oman, and providing her expertise to different water and power projects in Bahrain and Saudi Arabia. Her Islamic experience includes representing the Islamic finance institutions on a Sharia’a compliant package of Islamic finance documents and inter-creditor issues in connection with a multi-sourced project financed IWPP in the Gulf.
Seigneurie de Beaupré Wind Farms. Acted for Siemens Financial Services with respect to its participation in a lending consortium for the $725 million non-recourse project financing of the 272 MW Seigneurie de Beaupré Wind Farms located northeast of Québec City. Recognised by Project Finance International as “Americas Renewables Deal of the Year 2011”.
Yanbu Refinery project, Kingdom of Saudi Arabia: Advised the lenders on the term sheet for the financing (through commercial bank, export credit agency and PIF) on the US$10 billion conventional and Islamic project financing (including debt, bond and sukuk financing) of the construction and operation of the Yanbu Refinery Project in the Kingdom of Saudi Arabia.
YLNG LNG project, Yemen: Advised the lenders in the financing (through commercial bank and export credit agency) on the US$4.6 billion project financing of the construction and operation of the Yemen LNG Project, a two-train natural gas liquefaction plant plus associated pipelines, storage and port facilities in Yemen. Alison was the lead associate on the deal and negotiated the term sheet, common terms agreement, completion agreements, intercreditor provisions, security documents, direct agreement and other ancillary documentation.
Ambatovy Cobalt and Nickel Project, Madagascar: Advised the group of export credit agencies and managed their diverse views on the financing of this cobalt and nickel project financing in Madagascar. Alison was primarily responsible for negotiating the financing term sheet, negotiating and drafting the consultant’s contracts, project insurances and managing the group as a whole. Alison also drafted and negotiated the completion support agreement, political risk carve outs and the shareholder transfer restrictions agreement.
Salalah IWPP: Advised Calyon, the mandated lead arranger and syndicate of lenders, on all aspects of the US$330 million refinancing and re-organisation of the Salalah electrical generating, transmission and distribution system in Oman by way of amendment and restatement. Alison advised on the project documents and drafted the finance documents, account mechanics and related documentation. She liaised with local Omani counsel and managed the completion, including the drafting of documents to effect the transfer of the rights and obligations of the existing agent, security trustee and offshore account bank to a successor party process through to close.
Shuaibah IWPP: Represented the Islamic finance institutions (as part of the firm’s representation of the commercial bank lenders, export credit agencies and Islamic financiers) to the US$2.5 billion 900 MW, 176 million gallon-a-day project. Advised the Islamic finance institutions on a Sharia’a compliant package of Islamic finance documents and Intercreditor issues including drafting the asset participation and agency agreements, wakala agreement, specified lease agreement and related service agency agreement.
Marafiq IWPP: Represented the Islamic finance institutions (as part of the Firm’s representation of the commercial bank lenders, export credit agencies and Islamic financiers) to the US$3.2 billion 2745 MW power 800,000 cm3 per day project, the world's largest new build IPP/IWPP. Advised the Islamic finance institutions on a Sharia’a compliant package of Islamic finance documents and Intercreditor issues including drafting the asset participation and agency agreements, wakala agreement, specified lease agreement and related service agency agreement.
Astute Submarine Training Project Reorganization: Advised the Bank of Scotland (HBOS) and the Export Development Canada (EDC) on all aspects of the multi-jurisdictional reorganization of the project parties following the sale of the business of a key project party from a Canadian entity to an American entity in relation to this £300 million Ministry of Defence PFI project.
Project Boomer: Advised the Bank of Scotland (HBOS) and the Export Development Canada (EDC) on all aspects of the £70 million refinancing of a Ministry of Defence private finance initiative project.
The London Underground £1.8 billion PPP: Advised the arrangers, lenders and syndicate banks supporting the successful consortia, Tube Lines Group and Surface Lines Group, in relation to financing of the £1.8 billion PPP concession agreement to operate and maintain certain parts of the London Underground Limited infrastructure. In 2002 this deal won the Infrastructure Journal’s PFI/PPP "Deal of the Year" Award and Project Finance Journal’s "European Rail Deal of the Year".
The London Underground PPP £2.2 billion Refinancing: Advised the export credit agency, the European Investment Bank (EIB), on the refinancing of this project and advising the existing lenders on repayment of existing financing.
Project Laivakatu: Advised DVB Bank AG on the €45 million financing of a port project involving the development, extension, construction and operation of container terminal handling and port facilities in Finland and Russia. Part of the team developing the innovative security structure (encompassing onshore and offshore account charges and fixed and floating charges) in six jurisdictions (England, Finland, Germany, Ireland, Russia and Scotland).
Schools and healthcare PPP: Advised on a number of PPP schools and healthcare accommodation projects for both lenders and sponsors in the United Kingdom and Canada.
Office of Rail Regulation in the United Kingdom: Advised the Office of Rail Regulation on statutory applications for the granting of freight and passage train access rights to the British rail network (including drafting the template contracts for use in the industry), rail connection agreements, contractual terms of access rights and relevant UK and European legislation.
