Trowers & Hamlins (‘Trowers’), an international law firm, has served as lead counsel in facilitating a successful financing totalling up to KWD 134.51 million provided by Al Ahli Bank of Kuwait to TNB Repair and Maintenance Sdn Bhd (TNB Remaco) and Al Dhow Engineering (Al Dhow). The collaboration between TNB Remaco and Al Dhow led to the establishment of a joint venture aimed at delivering maintenance service solutions for gas turbines at the 876 MW Shuaiba North Power Generation and Water Distillation Plant in Al Ahmadi, Kuwait.
This financing initiative supports a five-year maintenance contract awarded by the State of Kuwait’s Ministry of Electricity and Water and Renewable Energy. It forms part of a broader initiative by the Ministry to modernize Kuwait’s power generation infrastructure, contributing to the global push for a sustainable energy transition. Furthermore, the project aligns with TNB’s dedication to driving innovations in the global energy sector.
Trowers advised TNB Remaco and TNB Power Generation Sdn Bhd (as guarantor for TNB Remaco) on all matters in relation to the financing, drafted and prepared the documentation for the financing, and liaising with different stakeholders for completion of this cross-border financing in a time bound manner.
The Trowers team was led by Elias Moubarak (pictured), Partner and Head of International Banking & Finance in the Malaysia office with support from Associates, Alyson Phung and Pei Ling See.
Elias commented: “This is an important part of a broader effort by Kuwait’s Ministry of Electricity, Water and Renewable Energy to modernise power generation infrastructure in Kuwait.