Douglas B. Buchanan, KC

Global Head of Infrastructure and Resources
Norton Rose Fulbright US LLP | Norton Rose Fulbright Canada LLP

M:+1 646 771 5746

M:+1 646 771 5746

Douglas B. Buchanan, KC

Douglas B. Buchanan, KC

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Biography

Douglas Buchanan, KC is the Global Head of Infrastructure and Resources at Norton Rose Fulbright. His practice focuses on project development, project finance and M&A with an emphasis on infrastructure, public-private partnerships (PPP), natural resources and power generation.

Prior to joining Norton Rose Fulbright, Doug was for over 5 years the Co-Head, Global Infrastructure and Project Finance at Debevoise & Plimpton LLP, an international law firm based in New York, and for 29 years prior to that he was a lawyer and partner at DLA Piper Canada's predecessor firm, Davis LLP. He was the National Managing Partner of Davis LLP for two terms. Doug was honored with the appointment to Queen's Counsel (now King's Counsel) in British Columbia in 2007. He is admitted to practice law in both British Columbia and Ontario and is licensed to practice as a legal consultant in the state of New York.


Professional experience

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  • LL.B, University of British Columbia, 1984 
  • B. Comm., University of British Columbia, 1976
  • British Columbia Bar
  • New York Foreign Legal Consultant
  • Ontario Bar

Doug has acted as lead counsel or a primary legal team member on over 80 P3 transactions in Canada, the U.S. and Latin America, a number of which have been recognized as international award-winning transactions. The following is a sampling of some of the P3 and other major transactions on which Doug has acted as lead counsel or a primary legal team member:

 

Infrastructure M&A

  • SH 288 Toll Road P3. Advised a group of three sellers on the sale to ACS Group of their interests in Blueridge Transportation Group, the concessionaire in respect of the SH 288 Toll Road P3 in Texas. (2023)
  • Watty Vos Boulevard P3. Advised Infrared Capital Partners on its sale to Plenary Americas of Infrared's 100% interest of the Watty Vos Boulevard project (WVB Project), an availability-based road concession in Aruba. (2022)
  • Vancouver Island Ferry Company. Advised Infrared Capital Partners on its acquisition of a majority interest in a new Canadian ferry company, Vancouver Island Ferry Company, which plans to launch a high-speed foot-passenger ferry from downtown Vancouver to downtown Nanaimo.
  • Portsmouth Bypass P3. Advised Star America Infrastructure Partners on the conduct of its sale of its interest in the Portsmouth Bypass P3 to an affiliate of Aberdeen Standard Global Infrastructure. (August 2021)
  • Portsmouth Bypass P3. Advised InfraRed Capital in the conduct of its sale of its interest in the Portsmouth Bypass P3 to an affiliate of Aberdeen Standard Global Infrastructure. (June 2021)
  • Champlain Bridge P3. Advised BBGI SICAV SA on its  acquisition of HOCHTIEF PPP Solutions North America Inc.'s interest in the Champlain Bridge P3 in Montréal. (December 2020)
  • Iqaluit Airport (Canada). Advised an InfraRed Capital affiliate on the sale of its majority interest in the Iqaluit Airport P3 in Nunavut, Canada. (2019)
  • Student Transportation Inc. Advised Ullico Investments, a co-investor with CDPQ, in their approximately C$2bn. cross-border / take private transaction to acquire Student Transportation Inc. (TSX.STB) (NASDAQ.STB).
  • Brookfield - Odebrecht Ambiental, Brazil. Advised Brookfield, the successful acquirer, of a 70 percent stake in Brazilian water and sewage concession company Odebrecht Ambiental. (2017)
  • Plutonic Run of River Project. Advised Axium Infrastructure and a consortium of Canadian pension funds in their acquisition of GE Canada's interest in the Plutonic 240 MW run-of-river power project in British Columbia.
  • Dokie Wind Project. Advised Axium Infrastructure and a consortium of Canadian pension funds in their acquisition of GE Canada's interest in the Dokie 150 MW wind power project in British Columbia.
  • Brookfield - Weyerhaeuser Acquisition. Acted as lead counsel to Brookfield on its C$1.4 billion acquisition of Weyerhaeuser's British Columbia private timberland assets.

 

Developer / Borrower Mandates

  • ADA (Package 3) P3 Project. Advised the successful proponent on New York's Metropolitan Transportation Authority's first P3, which involves the upgrading of 13 New York subway stations. Commercial close was achieved December 28, 2022 and financial close was achieved May 4, 2023.
  • Lulu Island Energy Co. District Energy P3. Advised Lulu Island Energy Company, a municipal corporation wholly owned by the City of Richmond, in relation to the C$580 million public private partnership with Corix Infrastructure and the Canada Infrastructure Bank, to expand and operate a district energy utility in Richmond, British Columbia. Our advice to Richmond's LIEC represents a first-in-kind payment mechanism whereby the municipality regulates the user fees. This project will use low-carbon thermal energy recovered from the regional sewer system to heat and cool residential and mixed-use commercial development sites in one of British Columbia's largest cities—and reduce greenhouse gas emissions by one million tonnes by 2050.
  • Washington DC Street Lighting and Smart Cities P3 Project. Advised Engie affiliates in their respective roles as EPC Contractor and O&M contractor on a successful bid team led by Plenary Americas US Holdings, Kiewit Development Company, and Phoenix Infrastructure Group in connection with the procurement by Washington, DC, of a P3 to modernize the City's lighting system and the incorporation of other smart city infrastructure technology. Awarded "2022 North American P3 Deal of the Year" by IJ Global. (March 2023)
  • Alberta Irrigation Project. Advised eight Irrigation Districts in Alberta on the C$815m project to modernize irrigation infrastructure and significantly expand irrigable land opportunities, which will be the largest irrigation expansion in Alberta's history. This project is also noteworthy for environmental sustainability as it will enable using less water more efficiently and provide mitigation from future droughts and floods due to climate change. It is also the first project to reach financial close under the Canada Infrastructure Bank's C$10bn Growth Plan and includes funding commitments of C$407.5m from the Canada Infrastructure Bank and C$244.5m from the Government of Alberta (closed December, 2020). Advised on a later expansion of the project to C$1bn by the addition of two additional Irrigation Districts. (August 2021)
  • Zero Emission Bus Financing. Advised Go Zero Emission School Bus British Columbia Inc., the purchasing agent for 60 British Columbia School Districts, in the negotiations of a credit facility with Canada Infrastructure Bank which will be used to assist with the funding of the purchase of Zero Emission Buses by the School Districts. (June 2021)
  • Ontario Line. Advising the rolling stock and signalling system member of the DBJV which is part of a shortlisted proponent on this  C$4bn DBFOM project in Toronto, Ontario.
  • Chicago "One Central" Transit-Oriented P3 Project. Currently advising Landmark Development as P3 counsel in connection with its development of a US$4bn Transit Oriented P3 Project in Chicago known as "One Central". Counterparty to the P3 agreement will be the State of Illinois.
  • Bogotá Metro. Advised a shortlisted sponsor team on the US$5bn Bogota Metro P3 Project in Bogotá, Colombia.
  • Maryland Purple Line Rail P3  Project. Advised the sponsor team comprising InfraRed Capital, Walsh Group, Alstom, Vinci and Keolis on the procurement for the Purple Line Light Rail project in Baltimore Maryland. The US$2.3bn project is being delivered using a DBFOM model.
  • Alberta Schools #1. Advised Babcock & Brown, the successful proponent, with respect to all aspects of the C$500m Alberta Schools Project in Calgary and Edmonton and its UK bank financing. Awarded "North American Social Infrastructure Deal of the Year" by Project Finance Magazine.
  • Rialto Water System P3. Advised Ullico, the majority equity investor, in the successful proponent relating to the DBFOM City of Rialto Water and Wastewater Systems Project in California.  The 30 year concession, US$130m project with the city is to outsource and upgrade the city's water and wastewater services.
  • Canada Line Rail PPP Project. Advised SNC-Lavalin, the successful sponsor, on the first DBFM rail-based rapid transit service P3 project in North America, which connects Vancouver with central Richmond and the Vancouver International Airport. This C$1.8 billion project was awarded "North American Transport Deal of the Year" by Project Finance (Euromoney) and "Infrastructure Deal of the Year - Americas" by Project Finance International.
  • Evergreen Line Rail PPP Project. Advised SNC-Lavalin, the successful sponsor, on this C$1.2bn DBF rail-based rapid transit service in Vancouver connecting a new municipality to the existing SkyTrain rail network.
  • Golden Ears Bridge Project. Advised Bilfinger Berger BOT Inc., the successful proponent, in respect of all aspects of the Golden Ears Bridge Project in Vancouver, British Columbia. At approximately C$1bn, this was one of the largest infrastructure project financings in Canadian history. Financing was by way of a UK bank syndicate with a monoline credit enhancement. Awarded "North American PPP Deal of the Year" by Project Finance and "North American Deal of the Year" by PFI Magazine.
  • Edmonton Ring Road #2. Advised the successful proponent on the C$1.4bn Edmonton Ring Road #2 (also known as the Anthony Henday Drive North West Leg). This was a combination highway and bridge DBFM project with a hybrid bond/bank financing. Awarded "PPP Deal of the Year – Americas" by PFI Magazine.

 

Lender Mandates

  • Railroad Rehabilitation & Improvement Financing (RRIF). Advising the US Department of Transportation and the Build America Bureau in connection with a loan to  a regional commuter rail project under the RRIF program.
  • Fargo-Moorhead Flood Diversion P3. Advised the United States Environmental Protection Agency's WIFIA Program in a US$561 million financing of a portion of the Fargo-Moorhead Metropolitan Area Flood Risk Management Project, a US$1.13 billion P3 (approximately US$350 million of private funds) that will from time to time reroute the Red River around the city of Fargo North Dakota and protect nearly 245,000 people from flood events, while at the same time manage spring snow-melt stormwater and summer stormwater, to restore the environmental quality of the area. Awarded "2021 Americas P3 Deal of the Year" by Project Finance International and "2021 North America Water Deal of the Year" by IJ Global. (June 2021)
  • Highway 407 ETR. Advised the construction lenders (Bank of Montreal, lead international banking syndicate) to the successful proponent on the C$3bn+ Highway 407 ETR project in Toronto, Ontario. We subsequently advised a shortlisted proponent on the DBFM Highway 407 #2 project in Toronto, Ontario.
  • Canadian Legal Lexpert Directory, 2020 - 2023: recommended in Corporate Commercial Law; 2020-2023: recommended in Infrastructure Law; Project Finance 
  • Appointed Queen's Counsel in British Columbia in 2007
  • Prior to moving to New York in 2013, was one of only five Canadian lawyers ranked "Band 1" for "Projects" by Chambers Global: Worlds' Leading Lawyers
  • Chambers Global, USA, Projects: PPP, Chambers and Partners, 2018, 2020 - 2023
  • Chambers Global, Canada, Projects: PPP & Infrastructure, Chambers and Partners, 2018 - 2024
  • Chambers Global, USA, Projects, Chambers and Partners, 2018 - 2021
  • Chambers USA, Nationwide: Projects: PPP, Chambers and Partners, 2019 - 2023
  • Legal 500 US, Recommended Lawyer, Project finance, The Legal 500, 2023
  • Best Lawyers in Canada: Mergers and Acquisitions Law, Project Finance Law, 2020-2023; Corporate Law, 2024
  • "Climate related infrastructure: Protecting people and property from catastrophic weather events" (co-authors: Douglas B. Buchanan, Nick Merritt), Insights, June 2022
  • "Convenient Realities" (co-authors: Ivan E. Mattei, Michael P. McGuigan), Project Finance Magazine, December 2013.
  • Moderator, Emerging post-pandemic: A new infrastructure asset class—a discussion of environmental, health and wellness infrastructure; Webinar, June 2021
  • Panelist, Public-Private Partnerships: Lessons Learned and Implications for Infrastructure Investment, National Association of State Treasurers, Providence, RI, May, 2019
  • New York State Bar Association
  • Law Society of Upper Canada
  • Law Society of British Columbia

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