Project Finance for Business Development

Limited-recourse and non-recourse lending has been a popular way to finance high-risk ventures since ancient times. It was used to finance everything from commercial sea voyages in ancient Greece and Rome to the construction of the Panama Canal and the development of the early oil and gas industries in the early twentieth century. But it wasn't until the 1970s and 80s, with the development of the North Sea oil fields, that it became a common substitute for government bond issuances and traditional corporate finance structures. Despite the long history of project finance, until now the literature on the subject has treated it, almost exclusively, as a stand-alone function rather than an integral part of new business development with strategic value for gaining and maintaining competitive advantage. The first book to address project finance from a much broader business development perspective, Project Finance for Business Development fills a gap in the literature on the subject by offering project sponsors and developers practical insights and guidance on how to more efficiently and effectively structure and implement projects by creating competitive advantage through project finance. John E. Triantis draws upon his more than forty years of experience to show how various elements of project finance, such as opportunity screening and evaluation, project development, risk management, and due diligence can be combined when structuring viable financeable projects. He dispels common misconceptions about what is really important for successful project financings, and he: Explains how to develop, structure, and implement projects successfully by creating competitive advantage in an increasingly globalized business environment Offers a roadmap for successful financing, participant roles and responsibilities, and assessing and testing project viability Provides a strategic decision-forecasting and financial modeling perspective on project finance Delves deeper than all other existing treatments of project finance into specific decisions needed to create and implement effective financing plans Uses numerous examples of project failures to illustrate common pitfalls to be avoided when structuring a project finance deal Helping readers develop, structure, and implement projects successfully by creating competitive advantage, this book is an indispensable tool for project sponsors and developers and important reading for all those with a stake in project finance, including CFOs, treasurers, comptrollers, corporate and strategic planning groups, and business development groups. Lessons learned from project failures and insights on project development, assessment, due diligence, and financing structuring processes will help government employees to structure financeable and viable infrastructure projects and get value for tax payer money spent.