Private credit glossary · Data updated Oct 23, 2026
What is project finance?
Project finance is long-term debt raised against a single infrastructure or energy project's own contracted cash flows, with limited or no recourse to the sponsor's balance sheet.
547
active Project Finance funds in this site's database
$10M–$100M
median confirmed check size, from 30 source-confirmed ranges
How it works
- Lenders underwrite the project itself: contracts, offtake agreements, construction risk, and reserves.
- Structured through a special-purpose entity with its own accounts and covenants.
- Tenors run 10–25+ years to match asset life.
When borrowers use it
- Solar, wind, storage, data centers, and other infrastructure with contracted revenue.
- Sponsors who want to preserve corporate balance-sheet capacity.
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