Project finance
Our team has experience in large-scale financings from international finance institutions and foreign banks to local corporations. Our team members have been successfully engaged in the most significant financings in Azerbaijan.
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How we work
Security packages, lender negotiation and conditions to disbursement.
VLMs experts has also acted as legal consultants for major energy and construction project financings in foreign jurisdictions, blending their domestic and international expertise.
To that end, armed with its extensive experience and international know-how, VLM has the required prerequisites to be a local counsel for such projects.
To that end, armed with its extensive experience and international know-how, VLM has the required prerequisites to be a local counsel for such projects.
Our projects
Work we have done
Azerbaijan
Azerbaijan Railways (ADY) Decarbonization Programme
VLM and Partners acts as Azerbaijani legal counsel in connection with the preparation of the legal and regulatory framework for the proposed Azerbaijan Railways (ADY) Decarbonization Programme, one of Azerbaijan’s most significant transport decarbonization initiatives. The programme is designed to establish the legal foundation for ADY’s long-term transition towards low-carbon railway infrastructure through renewable energy deployment, smart railway stations, electric mobility, battery energy storage systems, energy efficiency measures and public-private partnerships.
Our team analyses the Azerbaijani legislative framework governing renewable energy, electricity markets, public-private partnerships, railway infrastructure, land use, permitting, environmental regulation and investment protection. We advise on the legal feasibility of multiple decarbonization pathways, including utility-scale renewable energy generation, distributed solar installations, smart railway stations, battery energy storage systems, electric vehicle charging infrastructure, regenerative braking systems and low-carbon logistics solutions.
A significant part of our mandate involves developing legally viable implementation models capable of attracting private investment through PPP structures while ensuring compliance with Azerbaijani legislation and international financing requirements. We also advise on institutional responsibilities, regulatory risks and the bankability of the proposed investments to support the successful implementation of the programme.
Key contributions:
- Advising on the Azerbaijani legal and regulatory framework governing renewable energy, electricity, railway infrastructure and decarbonization projects
- Analysing the legal feasibility of multiple strategic decarbonization pathways for Azerbaijan Railways, including utility-scale renewable energy, smart railway stations, distributed renewable energy, battery energy storage systems, electric mobility and low-carbon logistics
- Developing legal recommendations for the implementation of PPP structures, concession and long-term PPA models for renewable energy and transport infrastructure investments
- Advising on licensing, permitting, construction approvals, environmental compliance and electricity market regulation applicable to renewable energy projects
- Conducting a comprehensive review of Azerbaijani land ownership, land use and leasing legislation relevant to the development of railway-based renewable energy infrastructure
- Advising on regulatory risks, institutional responsibilities and investment protection mechanisms affecting implementation of the programme
The engagement supports one of Azerbaijan’s most ambitious railway decarbonization programmes and is expected to establish the legal framework for the transition of the national railway operator towards low-carbon transport infrastructure. By combining renewable energy, sustainable mobility, climate finance and public-private partnership models within a single programme, the project is intended to create a scalable legal framework for future infrastructure investments.
Azerbaijan Railways announcementWhat we do
Our services for such engagement include:
- Drafting, reviewing and analysing the facility documentation
- Conducting legal and tax due diligence and preparing due diligence reports
- Issuance of Azerbaijani law legal opinions
- Ancillary Azerbaijani law advice customary for such types of transactions
- Reviewing the relevant corporate approvals, conditions precedence collection and confirmation, etc.
Who you will deal with
Vugar Mammadov
Managing Partner
Recognised by IFLR1000 and Legal 500. Energy, corporate, arbitration.
- Energy and infrastructure mandates
- Cross-border corporate structuring
- International arbitration
Who you will deal with
Vusala Babayeva-Nazirli
Senior Legal Associate
Licensing and regulatory compliance, contracts, project work.
- Permits and sector approvals
- Commercial contract drafting
- Project lifecycle support
News and insight
VLM Times
The amendments, decrees and court decisions that change what a business operating in Azerbaijan has to do next.
Contact
Tell us what you are trying to do in Azerbaijan
Marine Plaza, 3rd floor, Uzeyir Hajibeyli 62, AZ 1010, Baku. A partner replies within one business day.
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