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Project company
Practical Law UK Glossary w-010-6941 (Approx. 3 pages)
Glossary
Project company
A special purpose vehicle (SPV) created for the sole purpose of developing, owning and operating a project. Typically, it is established by the project sponsors as a limited liability company organised in the country where the project is located. A project company generally:
- Acts as the borrower or issuer under the relevant finance documents.
- Owns or otherwise holds an entitlement to the assets of the project.
- Holds the various authorisations and consents to construct and operate the project.
- Enters into the various project documents.