Mahmoud_ S. Bassiouny

MBH Advises TSFE on ACWA Power Deal for Egypt’s Green Fuel

Matouk Bassiouny & Hennawy (“MBH”) served as the legal counsel in Egypt to the TSFE Infrastructure & Utilities Sub Fund (“TSFE”). Acting on behalf of the New and Renewable Energy Authority, the Egyptian Electricity Transmission Company, and the Suez Canal Economic Zone Authority, TSFE, with MBH’s guidance, negotiated a framework agreement with ACWA Power, a Saudi-listed joint-stock company. The agreement aims to develop a project exceeding USD 4 billion, encompassing facilities such as renewable energy power plants and a green hydrogen/green ammonia manufacturing facility, contributing to the advancement of Egypt’s Green Fuel market. 

The ceremonial signing of the framework agreement took place in the New Administrative Capital, attended by Egyptian Prime Minister Mostafa Madbouly and Minister of Electricity and Renewable Energy Dr. Mohamed Shaker El-Markabi. 

The MBH team advising on the project was led by Mahmoud S. Bassiouny (Regional Managing Partner and Group Head of Finance & Projects, pictured) and included Amgad Nagy (Associate).