Covid-19 – implications under French Law and guidelines for future project finance transactions
Typically, a Concession Agreement or a PPA will provide for Force Majeure relief to extend beyond the Concession Agreement/PPA to other project agreements that the Concession Agreement/PPA parties are also party to, including the EPC contracts or the O&M agreements. For example, where the occurrence of a Force Majeure event prevents the EPC contractor from building the power plant, the project company may be able to seek relief from its contractual obligation under the Concession Agreement/PPA.