Sarah A. Devine

Norton Rose Fulbright US LLP

Washington DC
United States
T:+1 202 662 4516
Sarah A. Devine

Sarah A. Devine


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Sarah Devine is a partner in the Washington, D.C. office and is a member of both the corporate and project finance practices. Sarah has extensive experience representing clients in connection with cross-border mergers and acquisitions and international debt and equity financings.  Sarah has specific experience in the energy and infrastructure sectors.  She also has years of experience counseling companies a variety of corporate and commercial law matters.  Sarah was seconded to the legal department of the International Finance Corporation (IFC) from July 2006 through January 2008 where she provided legal counsel on the financing of IFC projects in a number of regions and across a range sectors, including transport, hydropower, education, manufacturing and microfinance. 

Professional experience

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JD, with distinction, Stanford Law School, 2002
BA, Modern History, Oxford University, 1999
BS, summa cum laude and valedictorian, School of Foreign Service, Georgetown University, 1996

Following her university training at Georgetown, Sarah completed a U.S. Fulbright Grant in Buenos Aires, Argentina, where she studied international relations at the Facultad Latinoamericana de Ciencias Sociales.  Sarah then attained a degree in Modern History at Brasenose College, Oxford University on full scholarship as an Allbritton Scholar. At Stanford Law School, Sarah served on the executive board of the Society of International Law. Following graduation, she served on the steering committee of the Stanford Law School Fellowship in Conflict Resolution, a fellowship awarded annually to current law students studying negotiation and mediation. Sarah is a member of Phi Beta Kappa.

She was admitted to practice law in California in 2002 and in the District of Columbia in 2003.

  • California State Bar
  • District of Columbia Bar

International Project Finance:

  • Lead counsel to multilateral lender in its $375 million debt and equity financing of a 1500 MW combined cycle power plant in the Kurdistan Region of Iraq
  • Lead counsel to three lenders (including two multilateral lenders) in their approximately $45 million debt financing of a new bus transport system in Cartagena, Colombia
  • Lead counsel to a multilateral lender in its $100 million equity financing of a portfolio of renewable energy projects in Turkey
  • Lead counsel to a multilateral lender in its debt financing of an 80-store pharmacy operation in East Africa
  • Lead counsel to a multilateral lender in its debt financing program for banks in Liberia and Guinea to provide liquidity during the Ebola crisis
  • Lead counsel to a multilateral lender in its debt financing of a shopping mall in Malawi
  • Representation of a two multilateral lenders in their financing of two wind power projects in the Dominican Republic
  • Representation of a multilateral lender in its subordinated financing of a $3.7 billion petroleum refining project in Egypt
  • Lead counsel to three multilateral lenders in their financing of a 64.5 MW thermal electric power project in Colombia
  • Representation of a multilateral lender in its simultaneous loans to affiliated microfinance banks in Latin America and Eastern Europe
  • Representation of a multilateral lender in its loan to a financial institution in Peru to expand its lending portfolios
  • Lead counsel to a multilateral lender in its equity investment in the Panamanian, El Salvadoran and Costa Rican subsidiaries of a Central American regional banking operation
  • Representation of a multilateral lender in the financing of an electricity distribution company in Jordan
  • Lead counsel to a multilateral lender in its loans to support the acquisition and development of six hydropower projects in three states in India
  • Lead counsel to a multilateral lender in the debt and equity financing of the capital expansion needs of a river transport operation based in Romania
  • Representation of a multilateral lender in its loans to three banks to support portfolios of loans to small and medium-sized enterprises (SMEs) in Lebanon
  • Representation of a multilateral lender to develop local currency lending program in multiple jurisdictions in the microfinance, health and education sectors, including development of form documentation
  • Representation of a multilateral lender in its investment in an air transport operation in Russia


  • Lead counsel to potential seller of a consumer products company, including involvement in all aspects of preparing the company for possible sale
  • Lead counsel in the internal corporate restructuring of a privately-held international broadcasting company
  • Lead counsel to a consumer products company in negotiating a number of domestic and international sale of goods, licensing and distribution agreements
  • Lead counsel to a potential buyer of a consumer products company
  • Lead counsel to several nonprofit organizations in corporate issues, including structuring and governance issues and obtaining federal tax-exempt status
  • Legal 500 US, recommended lawyer, finance: project finance, The Legal 500, 2014, 2019
  • Legal 500 Latin America, projects and energy, The Legal 500, 2012 - 2013, 2016-2017
  • Who's Who in America, 2012
  • Fellow, Leadership Council on Legal Diversity, 2014
  • Panel speaker on human trafficking at 7th Annual National Association of Women Judges Meeting with the Congressional Women's Caucus, July 10, 2012
  • Speaker at "M&A School", Norton Rose Fulbright, Washington, DC, October 2013
  • Speaker at International Finance Corporation Regional Counsel Workshop, Mexico City, November 2013
  • Presentation to local industry participants on Trends in Project Finance, Bogotá, Colombia, November 2013
  • Speaker at "Sponsor support and completion guarantee issues: international power projects", Norton Rose Fulbright, Washington, DC, April 2015
  • Speaker on "Transportation Infrastructure" panel at Latin Lawyer's 3rd Annual Regional Project Finance Summit, Washington, DC, November 2015​

In 2011, Sarah was an Adjunct Professor at Georgetown University Law Center where she taught a course in International Business Transactions. Sarah is a member of the American Society of International Law and the Fulbright Association of alumni of Fulbright Scholarships.

  • Board of Directors of Polaris Project, a leading non-profit organization combating trafficking in persons (2006 - 2010, 2011 - 2014)
  • Spanish


Renewables in Argentina

Publication | October 2016