1st of December 2022
Sharkawy & Sarhan acted as Egyptian counsel for(IFC, JICA and FMO – Dutch entrepreneurial development bank in relation to the financing of the largest single solar power project on BOO in Egypt
Keywords: Banking & Finance, Financial Institutions
We are delighted to announce that we have acted on yet another success story and acted as Egyptian counsel for IFC – International Finance Corporation, Japan International Cooperation Agency (JICA) and FMO – Dutch entrepreneurial development bank in relation to the financing of the largest single solar power project on BOO in Egypt.
The transaction is part of a colossal USD 1.1 billion financial package rallied by IFC – International Finance Corporation to the Abydos Solar Company and the Amunet Wind Power Company, subsidiaries of AMEA Power, to build, own, and operate twin solar and wind plants in Egypt and is a milestone supporting Egypt’s climate goals after hosting a successful #COP27.
The signing was under the auspices of the Prime Minister, His Excellency Dr. Mostafa Madbouly and in partnership with Ministry of International Cooperation by Her Excellency Dr. Rania A. Al-Mashat and Ministry of Electricity and Renewable Energy, His Excellency Dr. Mohamed Shaker.
When built, the 560MW Abydos Solar PV and 505MW Amunet Wind independent power projects, which will be Egypt’s largest of their kind, will generate over 4,000 gigawatt-hours per year of power. Power from the solar park and the wind farm will supply power for 1 million residents in Egypt and will be priced at 2 US cents/kilowatt hour and 3 US cents/kilowatt hour, respectively, which are the lowest rates in Africa and among the least expensive rates globally.
Our team was led by Power & Renewables partner Mohamed Nabil Hazzaa, and closely supported senior associate Nesma Abdelbary, associate Nadin Ghaleb and junior associate Ahmed Rifaat.
Press Release: https://lnkd.in/dGaDvyXB
We are delighted to announce that we have acted on yet another success story and acted as Egyptian counsel for IFC – International Finance Corporation, Japan International Cooperation Agency (JICA) and FMO – Dutch entrepreneurial development bank in relation to the financing of the largest single solar power project on BOO in Egypt.
The transaction is part of a colossal USD 1.1 billion financial package rallied by IFC – International Finance Corporation to the Abydos Solar Company and the Amunet Wind Power Company, subsidiaries of AMEA Power, to build, own, and operate twin solar and wind plants in Egypt and is a milestone supporting Egypt’s climate goals after hosting a successful #COP27.
The signing was under the auspices of the Prime Minister, His Excellency Dr. Mostafa Madbouly and in partnership with Ministry of International Cooperation by Her Excellency Dr. Rania A. Al-Mashat and Ministry of Electricity and Renewable Energy, His Excellency Dr. Mohamed Shaker.
When built, the 560MW Abydos Solar PV and 505MW Amunet Wind independent power projects, which will be Egypt’s largest of their kind, will generate over 4,000 gigawatt-hours per year of power. Power from the solar park and the wind farm will supply power for 1 million residents in Egypt and will be priced at 2 US cents/kilowatt hour and 3 US cents/kilowatt hour, respectively, which are the lowest rates in Africa and among the least expensive rates globally.
Our team was led by Power & Renewables partner Mohamed Nabil Hazzaa, and closely supported senior associate Nesma Abdelbary, associate Nadin Ghaleb and junior associate Ahmed Rifaat.
Press Release: https://lnkd.in/dGaDvyXB
Sharkawy & Sarhan acted as Egyptian counsel for(IFC, JICA and FMO – Dutch entrepreneurial development bank in relation to the financing of the largest single solar power project on BOO in Egypt
1st of December 2022
Keywords: Banking & Finance, Financial Institutions
We are delighted to announce that we have acted on yet another success story and acted as Egyptian counsel for IFC – International Finance Corporation, Japan International Cooperation Agency (JICA) and FMO – Dutch entrepreneurial development bank in relation to the financing of the largest single solar power project on BOO in Egypt.
The transaction is part of a colossal USD 1.1 billion financial package rallied by IFC – International Finance Corporation to the Abydos Solar Company and the Amunet Wind Power Company, subsidiaries of AMEA Power, to build, own, and operate twin solar and wind plants in Egypt and is a milestone supporting Egypt’s climate goals after hosting a successful #COP27.
The signing was under the auspices of the Prime Minister, His Excellency Dr. Mostafa Madbouly and in partnership with Ministry of International Cooperation by Her Excellency Dr. Rania A. Al-Mashat and Ministry of Electricity and Renewable Energy, His Excellency Dr. Mohamed Shaker.
When built, the 560MW Abydos Solar PV and 505MW Amunet Wind independent power projects, which will be Egypt’s largest of their kind, will generate over 4,000 gigawatt-hours per year of power. Power from the solar park and the wind farm will supply power for 1 million residents in Egypt and will be priced at 2 US cents/kilowatt hour and 3 US cents/kilowatt hour, respectively, which are the lowest rates in Africa and among the least expensive rates globally.
Our team was led by Power & Renewables partner Mohamed Nabil Hazzaa, and closely supported senior associate Nesma Abdelbary, associate Nadin Ghaleb and junior associate Ahmed Rifaat.
Press Release: https://lnkd.in/dGaDvyXB
We are delighted to announce that we have acted on yet another success story and acted as Egyptian counsel for IFC – International Finance Corporation, Japan International Cooperation Agency (JICA) and FMO – Dutch entrepreneurial development bank in relation to the financing of the largest single solar power project on BOO in Egypt.
The transaction is part of a colossal USD 1.1 billion financial package rallied by IFC – International Finance Corporation to the Abydos Solar Company and the Amunet Wind Power Company, subsidiaries of AMEA Power, to build, own, and operate twin solar and wind plants in Egypt and is a milestone supporting Egypt’s climate goals after hosting a successful #COP27.
The signing was under the auspices of the Prime Minister, His Excellency Dr. Mostafa Madbouly and in partnership with Ministry of International Cooperation by Her Excellency Dr. Rania A. Al-Mashat and Ministry of Electricity and Renewable Energy, His Excellency Dr. Mohamed Shaker.
When built, the 560MW Abydos Solar PV and 505MW Amunet Wind independent power projects, which will be Egypt’s largest of their kind, will generate over 4,000 gigawatt-hours per year of power. Power from the solar park and the wind farm will supply power for 1 million residents in Egypt and will be priced at 2 US cents/kilowatt hour and 3 US cents/kilowatt hour, respectively, which are the lowest rates in Africa and among the least expensive rates globally.
Our team was led by Power & Renewables partner Mohamed Nabil Hazzaa, and closely supported senior associate Nesma Abdelbary, associate Nadin Ghaleb and junior associate Ahmed Rifaat.
Press Release: https://lnkd.in/dGaDvyXB
