Matthew C. Brown

Primary Focus & Experience

Matthew represents sponsors, lenders, export credit agencies, and governments on all aspects of energy and infrastructure development and finance matters world-wide. He has a significant focus on energy transition (including battery gigafactories, green metals, alternative fuels, hydrogen, green cement and carbon capture) and digital infrastructure (data centre and GPU development and financing) matters as well as oil and gas (including LNG), and conventional and renewable power matters. His experience also includes advising on global shipping matters – including LNG, LPG, FSRU, FPSO and cruise ship financings and related development matters.

Matthew’s experience includes advising:

• The lenders in connection with the non-recourse senior debt financing of Revera Energy’s Windyhill Battery Energy Storage System (BESS) project in Scotland.
• NScale in connection with a $1.4bn delayed draw term loan backed by GPUs – the funding of which will be used to purchase GPU infrastructure to deliver service under multiple contracts.
• Stegra in connection with the development and financing of its hydrogen and green-steel manufacturing facility in Sweden.
• The developer in connection with the construction, leasing and operation of a data centre in Europe.
• The lenders in connection with the financing of a data centre in Europe.
• The lenders in connection with the financing of a data centre and GPU project in Europe.
• The sponsor in connection with the development and financing of a green metals facility in Europe.
• The sponsor in connection with the development and financing of a green iron project in the United States.
• The sponsor in connection with the development and financing of a green cement project in South America.
• The sponsor in connection with the financing of an offshore wind project in Europe.
• The sponsor in connection with the financing of a carbon capture, transportation and storage project in Europe.
• The sponsor in connection with the development of LNG regasification facilities in Europe and associated operations.
• The lenders in connection with the development and financing of a battery gigafactory in the United States.
• The lenders in connection with the financing of a renewables portfolio in Europe.
• The lenders in connection with the financing of a renewables portfolio in Italy.
• The sponsor in connection with the financing of the development of a solar project in the Middle East.
• The sponsor in connection with the financing of an LNG bunkering project in the Middle East.
• The sponsor in connection with the financing of a renewable natural gas project in the United States.
• The lenders (EIB, Bpifrance, SINOSURE, BBVA, Banco Santander, BNP Paribas, Natixis, Société Générale and HSBC) in connection with the development and financing of Envision AESC’s battery gigafactory in Douai, France, awarded Europe Industrial Deal of the Year at Project Finance International (PFI) Awards 2023 and Gigafactory Deal of the Year at IJGlobal Awards 2023.
• The EIB, Euler Hermes, KEXIM, KSure, NEXI, Riksgalden and a group of commercial bank lenders in connection with the $5 billion financing for the expansion of Northvolt Ett, an electric vehicle (EV) battery manufacturing facility and associated recycling facility in Skellefteå, Sweden.
• The EIB, export credit agencies and commercial bank lenders in the US$1.6 billion financing arrangements for Northvolt’s first gigafactory project in Sweden, awarded Project Finance Deal of the Year at IFLR's Europe Awards 2021 and Europe Industrial Deal of the Year by Project Finance International (PFI).
• Novo Energy AB (a joint venture of Northvolt and Volvo Cars) in connection with the development and financing of an up to 30 GWh/yr lithium battery gigafactory in Sweden.
• FREYR in connection with the development and financing of a battery gigafactory in Norway.
• Breakthrough Energy Catalyst on its acquisition of an equity interest in the FlagshipONE hydrogen to e-methanol project.
• The initial purchasers on several secured and unsecured offerings by Viking Cruises.
• GM Holdings in the US$980 million concurrent bank and bond project finance transaction for a portfolio of existing and new-build conventional and renewable electricity generation assets in Chile, awarded Americas Power Deal of the Year at Project Finance International (PFI) Awards 2021.
• The sponsors on the acquisition and financing of four power plants with a combined 750MW of flexible generation capacity in Chile.
• The sponsors in connection with the financing of the development and construction of a gas-fired power generation facility and related LNG regasification and import terminal in Chile, incorporating an FSRU.
• The sponsor on a gas-to-power project incorporating an FSU, onshore liquefaction and power plant in the Philippines.
• Qatar Gas Transport Company (Nakilat) and its subsidiary, Nakilat Inc., in connection with a US$6.8 billion program financing in respect of Nakilat Inc.’s acquisition and construction of 25 LNG tankers. The first phase of the financing included US$4.3 billion of senior and subordinated debt funded by commercial banks, the Export-Import Bank of Korea, a tranche supported by the Korea Export Insurance Corporation, and the issuance of senior and subordinated capital markets debt. The deal was named Middle East LNG Deal of the Year by Project Finance magazine. The US$1.5 billion second phase of the transaction consisted of senior and subordinated commercial bank debt as well as a tranche of senior debt supported by the Korea Export Insurance Corporation. The US$940 million third phase of the transaction consisted of senior and subordinated commercial bank debt. The almost US$1 billion fourth phase of the transaction consisted of senior and subordinated commercial bank debt.
• Maran Nakilat Co. Ltd. on multiple financing arrangements for its fleet of LNG vessels – including a US$662.44 million Shari’ah compliant refinancing of three existing facilities and the acquisition and financing of two new vessels; a US$669 million refinancing of two existing facilities and the acquisition and financing of two new vessels and a US$807.44 million Shari’ah compliant refinancing of an existing facility and the acquisition and financing of one new vessel.
• Nakilat Holdco L.L.C. (a joint venture between Teekay LNG Partners L.P. and Qatar Gas Transport Company Limited) on the refinancing of an existing US$450 million finance facility.
• Eight export credit agencies from Japan, Australia, Korea, France, Germany, and the Netherlands, and a syndicate of 33 commercial lenders, on a US$20 billion project financing of the Ichthys liquefied natural gas (LNG) project in Australia sponsored by Inpex Corporation and TotalEnergies. This transaction was named Global Deal of the Year by Project Finance magazine, Asia-Pacific Deal of the Year by Project Finance International (PFI), Project Finance Deal of the Year by Asia-MENA Counsel, and Trade Finance Deal of the Year by Trade Finance.
• The sponsors in connection with the refinancing of 8 LNG vessel acquisition facilities.
• The export credit agencies and commercial banks on the project financing of the PNG LNG project in Papua New Guinea.
• DnB NOR Bank ASA and Crédit Agricole Corporate & Investment Bank as lead arrangers and agents in connection with the US$1.8 billion financing of four ultra deep-water drill ships, to be owned by subsidiaries of Pacific Drilling Limited.

Recognition & Accomplishments

Matthew received his Bachelor of Laws and his Bachelor of Commerce from the University of Adelaide. Prior to joining Milbank in 2022, he was a partner in the London office of a leading US law firm.