Francisco Ferraz de Carvalho

Partner, Head of Finance, Energy & Infrastructure, Lisbon


Professional experience

Education and qualifications

Published works


Francisco is partner and head of the firm’s Finance and Energy & Infrastructure department in Portugal. He is dual-qualified as a Portuguese advogado and as a solicitor of the Supreme Court of England and Wales.

His practice focuses on project finance and project development, especially in the energy and infrastructure sectors, with over 20 years of experience advising sponsors and lenders on various successful projects both in Portugal and abroad.

Francisco also heads the firm’s Lusophone Africa Group, concentrating his cross-border experience acting as international legal counsel to sponsors/borrowers, commercial banks, multilateral and bilateral development finance institutions and, as well as governmental entities in connection with various projects in Mozambique, Cape Verde and Angola.

Work highlights
  • Refinancing of Finerge’s wind portfolio in Portugal: advising a group of twelve lenders (including commercial banks and institutional investors) and FSI in a syndicated refinancing of a portfolio of Portuguese wind farms held by Finerge, a 908 MW portfolio comprising 43 wind farms that produce around 2,12TW/h per year.
  • Coral FLNG, offshore Mozambique: advising Eni and its Area 4 co-venturers on all aspects of the US$11bn development and project financing of the Coral South project – Africa's largest ever project financing and the first ever project financing of a floating LNG facility.
  • Nacala Corridor Rail and Port, Malawi and Mozambique: advising the lenders on the project financing of the US$4.5bn Nacala rail and port corridor – the largest infrastructure project in the continent.
  • Pinhal Interior, Portugal: advising the EIB on a €245m facility for the Pinhal Interior subconcession, including the project, construction, increase of the number of lanes, financing, operation and maintenance for a 30-year period.
  • Terceira Island Hospital, Portugal: advising the winning consortium in the international public tender for the construction and maintenance of the Hospital of Terceira Island, in Azores, under a public-private partnership (PPP) arrangement.

Professional experience

Francisco joined Linklaters Lisbon office in 2007 and is currently partner and head of the firm’s Finance and Energy & Infrastructure practice in Lisbon.

Before joining Linklaters, Francisco was partner and head of Finance and Project Finance at Sérvulo & Associados, which he joined as Associate in 2003.

Before that he had worked as Associate at Morais Leitão, J. Galvão Teles & Associados in Lisbon (1999-2003) and at Simmons & Simmons in London (1997-1999), after his traineeship at the law firm Pena, Machete & Associados (1994-1996).

Francisco has been ranked by Chambers as a leading individual in Banking & Finance, Projects and Energy & Natural Resources, being praised for his expertise as international legal counsel in Lusophone Africa.

Chambers Europe 2020 recognises Francisco for Banking & Finance in Portugal, being also praised for his experience “in handling international work, particularly in mandates involving the UK and Mozambique”.

In Projects, Chambers highlights Francisco’s “expertise in project finance, concession agreements and acquisitions in the energy, transport and construction industries” both in Portugal and abroad, with clients enthusing that he “always contemplates the best solutions”. In addition, Francisco is furthermore referred as a proficient lawyer in the Energy & Natural Resources practice area, with Chambers outlining his work on acquisitions, refinancings, concession agreements and joint ventures within the sector.

Clients furthermore describe Francisco as a “go-to” at the firm for Mozambican matters as he has a proven track record advising on various successful projects and M&A transactions in Lusophone Africa.

Education and qualifications

Francisco obtained a Law Degree at the Lisbon Law School of the Catholic University of Portugal. He furthermore completed an LL.M. in Banking and Finance law at King’s College, University of London.

Francisco is a Member of the Portuguese Bar Association since 1997.

Additionally, he is qualified as Solicitor of the Supreme Court of England and Wales, making him a dual qualified lawyer.

He speaks Portuguese and English.

Published works

“Active Securitization”, in Structured Finance Guide 2005, Corporate Finance

“Derivatives and Portuguese Insolvency Law”, in The Euromoney Derivatives & Risk Management Handbook: 2005/2006 (12th Edition)