Infrastructure PPP question

A friend of mine is working on a PPP (private-public partnership project) in infrastructure and asked me two questions about it, which I wasn't able to answer, but I am sure someone on this forum will be. I greatly appreciate any insights on this.

1.) Is it common practice for the advising investment bank to reserve the right to provide financing for the project of up to 35% of all required funds, i.e. to serve both as an advisor and a sponsor? Their financial advisor is trying to push this clause in the agreement. They say that in case they can't find a suitable investor, they will provide the financing themselves under "the most competitive conditions". This sounds like a confict of interest to me, on one hand, serving the client and making the best effort to accommodate for the most lucrative financing conditions and on the other hand serving as the investor itself? If it is common practice, isn't 35% a bit too high?

2.) Is it common practice for an investment bank to serve as an advisor to several clients competing in the same PPP project? Obviously, they'd pledge confidentiality but still, isn't it strange that the same bank would serve multiple clients bidding on the same thing?

My friend is not expecting to get answers to these questions from someone who hasn't even graduated from college yet, but since I'm going work in infrastructure myself, I was wondering what the answers to this would be.

Thanks a lot!