Shearman & Sterling has taken on Thailand's largest project financing in acting for the lenders on the US$753m development of a gas-fired power project by the Ratchaburi Power Company. 

A syndicate of international banks including Calyon, HSBC and Sumitomo Mitsui Banking Corporation joined with a group of local banks including Bangkok Bank and Krung Thai Bank to fund the deal.

The deal, the last of the 1995 Thai Independent Power Producer projects to reach financial close, was led by Tokyo-based partner David Platt.