In project finance, is equity risk always higher than debt? Does this theory always hold ground in practice?

Yes equity risk is higher than debt risk. And see returns also could be higher than the debt. Debt is at lesser risk as it is generally secured by the borrower. At the same time its returns also are limited . Thanks

Depends on the type of project and inherent types of risks. Lenders and Sponsors do not always have similar objectives. Theory and practice are not always congruent.

GSPC is an Indian Company and I am in Pakistan, I don't think you will hire me.

For anyone else I am available, If you need a Project Director and have a solid project, you can contact me. Thanks.