Project Development, Finance & PPPs

Our practice is a market leader. We have acted in most of the large-scale projects to have taken place in Greece since the concessions market opened in the energy and infrastructure sectors.

We advise all market participants and count the international financing institutions, major lending banks, commercial financiers, consortia, project sponsors, construction companies, bidders and contractors with an active presence in Greece among our clients. We act for the European Investment Bank, the European Bank of Restructuring and Development and the State. Our aim is to provide creative solutions which cater to the needs of our clients, their concerns and priorities.

Project Development & Finance
The bulk of our work is in complex domestic and cross-border transactions and our practice is known for leading pioneering projects in numerous sectors including the energy, resources, infrastructure, transport, oil and gas, waste management and telecommunications industries. Whether it is the motorways or hydrocarbon exploration, our team is in an ideal position to advise on the structuring, documentation, transactional, risk and compliance aspects of each project.
Public Private Partnerships (PPPs)
We have been advising on PPPs since the first schools, universities and hospitals projects were launched in Greece. We have also been instrumental in preparing the first law dealing with works and services concession projects for the Ministry of National Economy and the law on Public-Private Partnerships.
Recent Experience
Vodafone Fiber to the Home Network
We advise Vodafone Greece in relation to the engineering, procurement, construction and installation of a Fiber To The Home (FTTH) Network for Inner & Outer Rings and Vertical buildings connections, within the regions of Attica, Thessaloniki, Patra, Ioannina, Volos, Kozani and Veroia. The project also includes financing from a Greek commercial bank.
Patra - Pyrgos - Tsakona Motorway
We advise Olympia Odos Concession Company SA, a company established by VINCI, HOCHTIEF and major Greek construction companies, in relation to the concession contract for the design, financing, construction, operation and maintenance of the Elefsina-Korinthos-Patras-Pyrgos-Tsakona Motorway. We are currently advising on the project and finance documents for the reintegration of the Patras-Pyrgos section into the concession project, including on the refinancing of the existing loans received for the sections of the motorway already in operation.
University of Thessaly Student Accommodation
We act for the European Bank of Reconstruction and Development in connection with the design, financing, construction, operation and maintenance of the student accommodation facility of the University of Thessaly.
Athens Water Supply and Sewerage Concession Agreement and PPP
We are advising the Hellenic Republic in the renewal of the concession agreement with the Athens Water Supply and Sewerage Company (EYDAP SA), a company listed on the Athens Exchange and are advising in the context of an award for the financing, operation and maintenance of the Athens Water Providing System for 20 years through a Public Private Partnership.
Alexandroupolis LNG Project
We act for Gastrade in relation to the development of the Alexandroupolis Independent Natural Gas System (INGS), a c.€360m cutting edge technology project comprising an offshore floating unit for the reception, storage and regasification of LNG and a system of a subsea and an onshore gas transmission pipeline.
Shipyards Tenders
We advised a multi-industry group of companies active in the shipping, technology, energy and real estate sectors in relation to its participation in two tenders, one for the sale of assets owned by Hellenic Shipyards SA and another conducted by the Hellenic Public Properties Company for the sale of land areas in the shipyards.
Hellenic Recovery and Resilience Fund
We advised the Hellenic Recovery and Resilience Fund in conducting a State Aid analysis of energy projects which were submitted to the European Commission as part of the National Recovery Plan.
Egnatia Odos Concession Tender
We advised a consortium led by Vinci in its participation in a tender conducted by the Hellenic Republic Asset Development Fund (HRADF) for the award of a concession contract for the Egnatia Odos and the upgrade of three vertical road axes.
Elefsina-Corinthos-Patra Motorway
Bernitsas Law advises the Concessionaire (sponsored by a consortium of foreign and local major construction companies including Vinci and Hochtief PPP Solutions and Ellaktor) on the Olympia Odos motorway project (design, build, financing, operation and maintenance of the Elefsina-Corinthos-Patra stretch of the PATHE motorway) with a construction value of €2.4bn.
Maliakos-Kleidi Motorway
We advise a syndication of lending banks, with Credit Agricole acting as inter-creditor agent, on the Maliakos-Kleidi motorway project (design, build, finance, operation and maintenance) with a construction value of €1.7bn.
Development of Public Private Partnerships
We advised the Structural Reform Support Service (SRSS) of the European Commission and the General Secretariat for PPPs of the Ministry of Development and Investments, in relation to the project for the supporting of public private partnerships in Greece, including preparation of guidance tools for the tender authorities and of standardised tender documents for the development of school units.
North Access Road of Crete
We are advising a consortium led by Vinci in its participation in the tender launched by the Ministry of Transport for the award of a concession contract for the design, financing, construction, maintenance and exploitation of the VOAK Motorway from Chania to Agios Nikolaos stretching to 200km in total. This project is currently suspended.
Vodafone Installation of Sub-Marine Cable
We acted for Vodafone in connection with the installation of a submarine cable system for the interconnection of ten islands in Greece, including submarine cable and terrestrial fibre optic systems and telecommunications equipment.
Trans Adriatic Pipeline AG (TAP) Project
We advised a consortium of international financing institutions including the European Investment Bank (EIB) and European Bank for Reconstruction and Development (EBRD) on the project financing of TAP’s development of a c.871km gas pipeline connecting to the Trans-Anatolian Natural Gas Pipeline from the Greek – Turkish border and running through Greece and Albania to Italy, connecting with the Italian natural gas distribution system near San Foca, under the sponsorship of AzTap GmbH, Snam Spa, BP Gas Marketing, Fluxys Europe, Enagas Internacional, SLU and Axpo Trading.
Gas Interconnector Greece-Bulgaria (IGB Pipeline)
We advised the joint venture company ICGB AD on the development of the Gas Interconnector Greece-Bulgaria (IGB Pipeline), which will provide a direct link between the national natural gas systems of Greece and Bulgaria with an entry point in the vicinity of Komotini and an exit point in the vicinity of Stara Zagora. The IGB Pipeline will act as a strategic gas transportation infrastructure providing diversification of gas supply to the Bulgarian and South East Europe gas market and supply security to Greece.