Vestronis
/Capabilities

Eight integrated capabilities. One accountable developer.

Most infrastructure projects stall because origination, structuring, financing, delivery and asset management sit with different organisations whose incentives differ. Vestronis brings these disciplines together in one development platform. Contracting authorities, investors and lenders therefore deal with one party accountable for the project from first identification to long-term operation.

Capability architecture

The eight disciplines

Each capability is essential on its own. Their value comes from being integrated under one development discipline and governed through the same stage-gated process.

01
Project origination
Market scanning · mandate development · pre-procurement positioning
02
PPP structuring
Concession design · risk allocation · legal framework · bankability
03
Capital structuring
Capital stack · IFI instruments · blended finance · debt sizing
04
Consortium formation
Partner selection · JV structuring · bid leadership · incentive alignment
05
Bankability & financial close
Due diligence · conditions precedent · close coordination
06
Delivery governance
EPC oversight · milestone verification · lender reporting · commissioning
07
Asset management
SPV governance · O&M monitoring · lifecycle planning · refinancing
08
Strategic partnerships
Authority relations · IFI engagement · investor development · partner ecosystem
Capability 01 · Project origination

Identifying and developing mandates before procurement

Origination is the foundation of the platform. Before capital is committed or partners are engaged, we identify the infrastructure need, test whether private participation is appropriate and build the institutional and financial case for it. We work with contracting authorities, line ministries and municipalities at the pre-procurement stage rather than relying on published tenders.

  • Systematic scanning of infrastructure gaps across target sectors and markets
  • Engagement with authorities and contracting bodies before procurement
  • Assessment of PPP applicability and value-for-money rationale
  • Technical, commercial, legal and financial pre-feasibility
  • Screening for EU and IFI funding eligibility, such as IPA III and WBIF
  • Early identification of political, regulatory, demand and E&S risks
DOC
Origination dossier
Technical scope, delivery rationale, funding eligibility and a first risk overview.
FIN
Pre-feasibility assessment
Technical and financial screening, confirming whether PPP is applicable and the likely capital requirement.
MAP
Stakeholder map
Contracting authority, co-financiers, specialists and approving bodies for the project.
PLN
Development plan
Phased work plan to structuring, with decision gates, budget and resourcing.
Capability 02 · PPP structuring

Designing the framework that makes a project investable

PPP structuring turns a project concept into a concession that can be financed. We design the contractual, financial and risk-allocation architecture between the contracting authority, the project company and lenders, working with the authority's own advisers and with legal counsel.

  • Selecting the delivery model: DBFOM, DBFM, availability payment, user-fee concession, BOT or ROT
  • Concession design: term, payment mechanism, performance standards and step-in rights
  • Allocating construction, demand, operating, regulatory, force-majeure and termination risk
  • Working within national PPP law, EU procurement directives and IFI requirements
  • Structuring government support: guarantees, viability-gap funding, land and permits
  • Reviewing concession terms against lender requirements before procurement
LGL
Concession heads of terms
Principal commercial terms, reviewed for bankability and compliance with EU and IFI requirements.
RSK
Risk allocation matrix
Each project risk identified, allocated to the party best able to manage it, and mitigated.
SPV
Project-company framework
Corporate structure, governance and shareholder-agreement heads of terms.
KPI
Output specification & KPIs
Availability, quality and service standards, with the measurement and deduction regime.
Capability 03 · Capital structuring

Assembling a capital stack that can reach financial close

We design capital structures that balance the risk and return requirements of each layer of finance, from grants and concessional IFI debt to commercial debt and equity. Structures are designed project by project, based on the revenue model, the lender market, grant eligibility and investor mandates.

  • Capital stack design across senior, mezzanine and subordinated debt, equity and grants
  • Identifying suitable IFI and DFI instruments, including EBRD, EIB, IFC, WBIF and bilateral DFIs
  • Commissioning financial models: base case, sensitivities and debt sizing
  • Profiling investors and lenders, and running targeted, confidential engagement
  • Term-sheet negotiation and inter-creditor arrangements
SNR
Senior debt
Commercial bank facilities, IFI project-finance loans and export-credit cover, sized on cash-flow cover ratios.
EQ
Equity
Sponsor and co-investor equity, infrastructure funds and DFI equity participation.
GRT
Grants & viability gap
EU and bilateral grants and government viability-gap funding where public benefit justifies them.
BLD
Blended finance
First-loss tranches, subordinated DFI debt, technical-assistance grants and guarantees.
Capability 04 · Consortium formation

Building the team that wins and delivers

We identify, prequalify and bring together the partners a project needs, then lead the consortium so the contracting authority deals with one accountable counterparty rather than a group of co-bidders whose interests differ.

  • Identifying partners and analysing capability gaps against project requirements
  • Financial, technical, integrity and reputational due diligence on each partner
  • Structuring joint-venture, consortium and shareholder agreements
  • Bid management across technical and financial submissions
  • Aligning commercial terms with each party's risk and contribution
EPC
Engineering, procurement & construction
Contractors chosen for technical competence, financial standing and delivery record in the sector.
O&M
Operations & maintenance
Operators providing performance guarantees, KPI management and long-term concession compliance.
FIN
Financial partners
Co-investors, infrastructure funds and DFIs that add capital and financial credibility.
ADV
Technical & legal advisers
Independent technical, environmental, legal and sector specialists for bid and close.
Capability 05 · Bankability & financial close

Taking the project through due diligence to close

We coordinate the technical, legal, financial, insurance and E&S due diligence that lenders need, and manage conditions precedent through to financial close and first drawdown.

DD
Lender due diligence
Coordinated reports from lenders' technical, legal, insurance, model-audit and E&S advisers.
CP
Conditions precedent
Tracked from term sheet to close, covering permits, legal opinions, insurance and E&S clearances.
SEC
Security package
Direct agreements, step-in rights, account structure and insurance requirements.
FC
Close coordination
Signing, funds flow, first drawdown and post-close reporting set-up.
Capability 06 · Delivery governance

Oversight from notice to proceed to commissioning

During construction, the project company's obligations to the authority and lenders depend on disciplined oversight. We provide owner's governance of the EPC contract, verify milestones and report to lenders and the authority.

EPC
Contract oversight
Programme, quality, change control and claims management on behalf of the project company.
MS
Milestone verification
With the independent engineer, before drawdowns and payments are released.
E&S
ESMP implementation
Contractor E&S plans, health and safety, and the grievance mechanism monitored in practice.
COD
Commissioning
Testing, completion certificates and handover to operations.
Capability 07 · Asset management

Long-term governance of operating assets

Our model does not end at completion. We intend to take part in project-company governance throughout the concession, monitoring performance, compliance and value over the asset's life.

GOV
Project-company governance
Board participation, reserved matters and reporting to shareholders, lenders and the authority.
O&M
Performance monitoring
KPIs, availability, deductions and operator performance.
LCP
Lifecycle planning
Major maintenance, renewals and resilience investment planned over the full term.
REF
Refinancing & exit
Refinancing, value optimisation and handback at the end of the concession.
Capability 08 · Strategic partnerships

An ecosystem built around project roles

Complex projects need long-term relationships with authorities, development finance institutions, investors and technical partners. We keep these relationships active and structured around specific project roles, governed by clear agreements.

GOV
Authority relations
Structured dialogue with ministries, PPP units and municipalities.
IFI
IFI & DFI engagement
Early engagement on pipeline, eligibility and co-financing.
INV
Investor development
A confidential, criteria-based approach to engaging with capital partners.
ECO
Partner ecosystem
Prequalified EPC, O&M, advisory and technology partners.
Engagement model

How we work with every counterparty

A
Stage-gated development
Every project moves through defined gates with recorded decisions, so progress and commitments are transparent to all parties.
B
Independent advisers
Specialist legal, technical, financial and E&S advisers are appointed where the project needs them. We coordinate them; we do not replace them.
C
Controlled disclosure
Information is shared through secure data rooms at a level agreed with each counterparty.
D
Documented governance
Decision logs, conflicts management and integrity screening run through the whole lifecycle.

Partner with Vestronis

Whether you represent a public authority, an investor or lender, or a technical partner, tell us about the opportunity and we will route it to the right team.