Peter F. Fitzgerald

Partner
Norton Rose Fulbright US LLP

Washington DC
United States
T:+1 202 974 5712
Peter F. Fitzgerald

Peter F. Fitzgerald

vCard

Related services and key industries


Biography

Peter Fitzgerald is a partner in Norton Rose Fulbright's Project Finance Group and a member of Norton Rose Fulbright's Global Supervisory Board. He is also a former Associate General Counsel of the Overseas Private Investment Corporation (OPIC), the U.S. Government's development finance institution.

Peter has been representing multilateral agencies, commercial bank lenders and project developers in connection with international project financings for over 35 years. Mr. Fitzgerald has been heavily involved in energy and other infrastructure projects in the emerging markets of Latin America, Asia, Africa and the Middle East and specializes in the negotiation of project financings involving multilateral and/or bilateral agency support. He also represents foreign investors, commercial bank lenders and political risk insurers in connection with political risk matters, political risk insurance contracts and claims under political risk insurance contracts. Prior to joining us in 1993, Mr. Fitzgerald was with the Overseas Private Investment Corporation (OPIC) from 1985 – 1993, where his duties included service as Associate General Counsel for Finance (1990-1993) and as Associate General Counsel for Political Risk Insurance (1988-1990).


Professional experience

Expand all Collapse all

JD, Rutgers University School of Law, 1981
BA, with high honors, University of Notre Dame, 1978

  • District of Columbia Bar
  • New York State Bar

Project Finance

  • Represented the International Finance Corporation (IFC), the Central American Bank For Economic Integration (CABEI), Bancolombia, Banco General and Global Bank on the financing of the US$1 billion Colón LNG to Power Project in Panama, sponsored by The AES Corporation and Inversiones Bahía.  The project is the largest combined–cycle power project (380 MW) and the first LNG import terminal to be built in Panama.
  • Represented the US Department of Energy (DOE) in connection with US$8.3 billion in guaranteed loans to Georgia Power Company, Oglethorpe Power Corporation, and Municipal Electric Authority of Georgia for the financing of the US$14 billion, 2,214 MW Vogtle nuclear power project in Georgia.
  • Represented the International Finance Corporation (IFC), the Overseas Private Investment Corporation (OPIC), the Inter-American Development Bank (IDB), KfW Ipex-Bank, Banco Itaú, Corpbanca, Banco del Estado and Banco de Crédito on the financing of the US$2 billion, 531 MW Alto Maipo Hydro Project in Chile, sponsored by AES Gener. This transaction was named "Latin American Power Deal of the Year" 2013 by Project Finance International.
  • Represented IFC and OPIC on the financing of the US$140 million, 50 MW SunEdison-sponsored San Andres merchant solar power project in Chile. This transaction was named "Latin American Solar Deal of the Year" 2013 by Project Finance magazine.
  • Represented IFC and OPIC on the financing of the US$220 million, 100 MW SunEdison-sponsored Amanecer solar power project in Chile.
  • Represented OPIC on the financing of the US$250 million, 70 MW Salvador merchant solar power project in Chile, sponsored by Total, Etrion and Solventus.
  • Represented IFC and OPIC on the financing of the US$90 million, 34 MW BMR wind power project in Jamaica, sponsored by Blue Mountain Renewables.
  • Represented OPIC and IDB on the US$220 million financing for the 72 MW Crucero solar power project in Chile, sponsored by SunEdison.
  • Represented the International Finance Corporation (IFC), the Asian Development Bank (ADB), the Export-Import Bank of Korea (KEXIM), the Korean Export Insurance Corp. (KEIC), a syndicate of Indian banks led by the State Bank of India, and a syndicate of commercial banks led by BNP Paribas in connection with the US$4.25 billion project financing of the 4,000 MW Mundra coal-fired power project in Gujarat, India, sponsored by Tata Power. This transaction was named "Deal of Year-Asia Pacific" 2008 by Project Finance International.
  • Represented a consortium (including Sithe Global and the Aga Khan Fund for Economic Development) in connection with the development and financing of the 250 MW Bujagali hydroelectric power project in Uganda. This transaction was named "Africa Power Deal of the Year" 2007 by Project Finance magazine.
  • Represented DOE in connection with proposed guaranteed loans to the Calvert Cliffs 3 Nuclear Project, LLC for the financing of the 1,600 MW Calvert Cliffs 3 Nuclear Power Project in Maryland, sponsored by UniStar Nuclear Energy, LLC, a joint venture between Constellation Energy Group and EDF International, S.A.
  • Represented OPIC in connection with the US$2 billion co-financing (with U.S. Export-Import Bank, Hermes, OND and a syndicate of banks led by ABN AMRO) of three build, own and operate (BOO) power projects in Turkey (the 1,554 MW Gebze project, the 1,523 MW Izmir project and the 777 MW Adapazari project) sponsored by InterGen and ENKA. This transaction was named "European Power and Global Deal of the Year" 2000 by Project Finance magazine and named a "Project Finance Deal of the Year" 2000 by Global Finance magazine.
  • Represented Wartsila NSD Power Development Inc. in connection with (i) the development and IFC financing of the Khulna Power Co. project (an 80 MW barge-mounted power project) in Bangladesh, (ii) the development of the Ba Ria Vung Tau power project in Vietnam and financing arrangements with IFC, (iii) the development and financing of the 80 MW ELCOSA power project in Honduras financed by IFC, the Inter-American Development Bank (IDB) and Germany's Deutsche Investitions und Entwicklungsgesellschaft mbH (DEG), and (iv) the development and financing of the Jamaica Energy Partners barge-mounted power project in Jamaica, financed by IFC.


Political Risk

  • Represented the Overseas Private Investment Corporation (OPIC) on its provision of political risk insurance for a US $250 million capital markets financing for the construction of the Ukraine Central Spent Nuclear Fuel Storage Facility.
  • Represented MidAmerican Energy Holdings Company (formerly CalEnergy Company, Inc.) in connection with its expropriation claims under political risk insurance policies issued by OPIC and Lloyd's and its related foreign investment dispute with the government of Indonesia. The political risk insurance claims resulted in a full recovery of US$290 million; at the time this was the largest political risk investment insurance claim ever paid.
  • Represented Sovereign Risk Insurance Ltd. in connection with political risk insurance contracts covering capital market issuances by companies in Argentina, Brazil, Costa Rica and Turkey.
  • Represented Union Carbide Corporation on political risk and project financing matters in connection with the development and financing of the Equate petrochemical project in Kuwait.


Pro Bono

  • Representing Catholic Relief Services in connection with the establishment of a fund to provide grants and loans for community development projects in Guatemala.
  • Represented two Honduran brothers in obtaining grant of asylum in the U.S.
  • Chambers USA, Nationwide: Projects (Band 1), Chambers & Partners, 2018-2019
  • Chambers Global, Projects-USA, Chambers & Partners, 2018-2019
  • Chambers Global, Energy & Natural Resources (Latin America-wide), Chambers & Partners, 2019
  • Who's Who Legal, project finance, Law Business Research Ltd., 2018
  • Chambers Latin America, Energy & Natural Resources-Latin America-wide, Chambers & Partners, 2018-2019
  • The Best of the Best: Expert Guide to the World's Leading Lawyers, one of the top 35 project finance lawyers in the world, Euromoney Institutional Investor PLC, 2017
  • Recommended lawyer, Banking and finance and Projects and energy, Legal 500 Latin America, 2017, 2018
  • Best Lawyers in America, lawyer of the year in Washington, DC for Project Finance, Best Lawyers, 2015
  • Best Lawyers in America, project finance, Best Lawyers, 2018-2019
  • Law360, MVP for Energy Projects, Portfolio Media, Inc, 2014
  • IFLR1000 – United States, Euromoney Institutional Investor PLC, 2018
  • "Chadbourne & Parke's London Office: Hub Of A Global Practice," Metropolitan Corporate Counsel, January 2006 
  • "Lessons From Foreign Investment Disputes," Project Finance NewsWire, February 2003 
  • "Turkish Arbitration Issue Resolved," Project Finance NewsWire, March 2000 
  • "International Project Financing: An Overview, Project Financing 2000: Building Infrastructure Projects in Developing Markets," PLI Comm. Law & Practice Course Handbook Series No. A-803, 2000 
  • "Intercreditor Issues Arising on Financings Involving Multilateral Agencies and Export Credit Agencies, Project Financing 2000: Building Infrastructure Projects in Developing Markets," PLI Comm. Law & Practice Course Handbook Series No. A-803, 2000

Mr. Fitzgerald is a frequent lecturer on project finance and political risk insurance matters. He chaired the Practicing Law Institute's annual conference, "Project Financing: Building Infrastructure Projects in Developing Markets," from 1995 to 2004. Some of his presentations include:

  • "Public-Private Partnerships – How Governments Make Better Decisions," World Bank Global Forum on Law, Justice and Development, World Bank, Washington, DC, November 18, 2015
  • "Improving the Experience: A Panel of Developers and Agency Representatives Discuss Ways to Streamline and Improve the Lending Process," Moderator, Focus on Emerging Markets, Washington, DC, January 10, 2013
  • "Seminar on Multilateral Agency Project Finance and Political Risk Insurance," Istanbul, Turkey, March 20, 2012
  • "What Makes Green Energy Different, Focus on Emerging Markets," Washington, DC, September 16, 2010
  • "Political Risk Insurance: Drawing the Lines," Euromoney's Infrastructure Finance in Central and Eastern Europe Forum, Vienna, Austria, June 2006
  • "Practical and Effective Strategies for Working with ECAs and Multilaterals," Projects International, Paris, France, March 2006
  • "Lessons Learned from PRI Claims, Near Claims and Non-Claims," Structured Trade & Export Finance in the Americas Conference, Miami, FL, February 2005
  • "The Role of Multilateral Agencies and Political Risk Insurance in LNG Financings," Financing the LNG Supply Chain, London, United Kingdom, January 31 – February 1, 2005
  • "Project Financing Update 2004: Reworking & Building New Projects in Developing Markets," New York, NY, October 14–15, 2004
  • "Mitigating Risks in Latin American Power Projects," Financing Latin American Power Conference, Miami, FL, July 28–29, 2003
  • "Project Financing: Force Majeure, Frustration of Contract and Related Issues," International Bar Association's Project Finance Seminar, Washington, DC, April 2001
  • Adjunct Professor of Law, Georgetown University Law Center, International Business Transactions, 1992-1994, 2015-present
  • Associate General Counsel for Finance, Associate General Counsel for Insurance, Assistant General Counsel, Senior Commercial Counsel, OPIC, 1985-1993