Project finance generally refers to long-term, limited recourse debt structured to meet the specific requirements of capital-intensive resource and infrastructure projects. Project finance is designed to the strength of future cash flow and there is less reliance on more traditional credit benchmarks such as the credit standing of the borrower and the security value of the asset being financed.
Tapper, Pierre and Regan, Michael
"Australia's hybrid approach to project finance,"
Public Infrastructure Bulletin: Vol. 1
, Article 6.
Available at: http://epublications.bond.edu.au/pib/vol1/iss6/6