Project financing

Project finance is the financing of long-term infrastructure and industrial projects based upon a complex financial structure where project debt and equity are used to finance the project, and debt is repaid using the cashflow generated by operation of the project, rather than the general assets or creditworthiness of the project sponsors. Because of this structure, the debt is said to be "nonrecourse" to the project sponsors.
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A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis.