Sharkawy & Sarhan Advises Egyptian Solar Project
Sharkawy & Sarhan Law Firm announced their involvement in financing the Kom Ombo solar power project, which recently won the IJGlobal Global’s award for “Energy Transition Deal of the Year.”
The project is a significant milestone for renewable energy in Egypt. With a capacity of 200 MW, it’s the first tendered utility-scale solar project in the country and contributes to the country’s goals of generating 42% of electricity from renewables by 2035.
Sharkawy & Sarhan Law Firm acted as Egyptian counsel to The European Bank for Reconstruction and Development (EBRD), The OPEC Fund for International Development (OFID), and The African Development Bank (AfDB) in financing the project. The project financing totaled USD 168 million.
“We are very proud to have contributed to such a groundbreaking transaction,” said Partner Mohamed Nabil Hazzaa, who led the Projects & Infrastructure team on the deal. “This project represents a major step forward for Egypt’s clean energy future.”
The Kom Ombo solar power plant is a Build, Own, Operate (BOO) scheme located in Kom Ombo, Aswan, and developed by ACWA Power. It’s one of the first projects delivered under the Energy Pillar of the Nexus Water-Food-Energy (NWFE) initiative, which aims to develop 10 GW of renewable energy in Egypt.
Sharkawy & Sarhan Law Firm led by Partner Mohamed Nabil Hazzaa, closely supported by Counsel Nesma Abdelbary and Associate Nadin Ghaleb
