Matouk Bassiouny & Hennawy advises Red Sea Wind Energy
Matouk Bassiouny & Hennawy advised Red Sea Wind Energy, a consortium comprising Engie, Orascom Construction, Toyota Tsusho Corporation, and Eurus Energy Holdings Corporation, on a USD 100 million financing arrangement.
The deal
The proceeds deriving from the operation will fund a 150 MW expansion of the original wind energy project located in Ras Ghareb. The site is therefore going to host an enlarged, 650 MW wind farm. Through this project, The Red Sea Wind Energy will provide 1 million homes with energy supply from clean sources and further decrease annual carbon emissions by approximately 1.3 million tons. The expansion will then bolster Egypt’s efforts toward renewable energy transition.
The team
Mahmoud S. Bassiouny (pictured), regional managing partner and group head of finance & projects, led the MBH team on the matter, with the additional support of counsel Nadia Abdallah, senior associate Amgad Nagy, as well as associates Aya Omar and Mai Ali.