(“EIA”) is needed before any major project can proceed (cf. §7.4.1), for
which the Sponsors will probably have to engage specialized advisers.
Environmental issues are of considerable importance to many lenders, who
do not want to be associated with projects causing environmental harm, even
if they as lenders have no legal liability for this.
Market. Market advisers are needed for aspects of the project not covered by
contracts (e.g., fuel supply, product offtake, or traffic risks) if the Sponsors
do not have their own expertise in the product concerned. The expertise of
these advisers, and the degree of their involvement in the project, may be
significant factors for the lenders’ due-diligence process.
Accountants. Accountants are often retained to advise ...