Sponsors & Governance
Ownership, management capability, decision rights, track record and alignment.
Project Finance
From opportunity to financeable structure.
Project finance is generally built around the assets, contracts and future cash flows of a specific project. Credibility depends on far more than the amount of capital requested.
The Fundamentals
A compelling vision becomes financeable only when the commercial foundations can withstand scrutiny.
What Capital Providers Examine
Readiness is visible in the details.
The following areas commonly determine whether an opportunity is ready for serious engagement.
Revenue & Contracts
Demand, offtake, concession, customer agreements and realistic cash-flow assumptions.
Technical Readiness
Design, site control, licences, permits, engineering, procurement and construction planning.
Risk & Security
Risk allocation, insurance, collateral, guarantees, reserve accounts and repayment strategy.
Financial Model
Capital expenditure, operating assumptions, sensitivities, debt capacity and returns.
Legal & Regulatory
Corporate structure, licences, land rights, environmental obligations and compliance.
Counterparties
Identity, capability, sanctions screening, beneficial ownership and contractual reliability.
Impact & Sustainability
Environmental, social and governance considerations relevant to the project and capital.
Potential Pathways
The structure must fit the opportunity.
No financing pathway should be assumed in advance. Depending on project maturity, jurisdiction and counterparties, possibilities may include:
- 01Proprietary investment
Mheman’s own capital in selected opportunities meeting its standards. - 02Joint ventures
Partners combine capital, expertise, assets or market access. - 03Special-purpose structures
Clear project ownership, governance, assets, liabilities and cash flows. - 04Institutional or bank financing
Independent review and approval by relevant capital providers. - 05Trade or asset-backed finance
Supported by genuine commercial activity, acceptable assets and verifiable contracts. - 06Capital-markets solutions
For sufficiently mature projects through appropriately authorised advisers and institutions.
JV & SPV
Clear ownership. Defined responsibilities.
A joint venture can combine resources around a shared commercial objective. A special-purpose vehicle can hold project assets and define a distinct governance and liability framework.
Neither structure is a shortcut or automatic protection. Legal, tax, accounting, regulatory and commercial outcomes depend on jurisdiction, substance and documentation.
Read our overview of JV and SPV structuresOur Role
Clarity before introduction.
Mheman may help stakeholders identify gaps, organise the opportunity and assess potential participation or financing pathways. We do not replace licensed financial, legal, tax, technical or regulatory advisers.
AssessCommercial foundations
ClarifyOwnership and documents
StructurePotential participation
EngageSuitable counterparties
Next Step