White & Case advises Green Sky on SAF facility
White & Case has advised Green Sky Capital on a capital raise for a Sustainable Aviation Fuel (SAF) facility located in the Suez Canal Economic Zone in Ain Sokhna, Egypt, alongside the establishment of a wider SAF development platform. The facility, with an expected production capacity of approximately 145,000 metric tons per year, is described as the first of its kind in Africa and the Middle East.
Deal details
White & Case advised on all aspects of English and Egyptian law, covering the equity raise and the establishment of the Green Sky Capital platform between Green Sky Capital Management, Al Mana Holding and Vision Invest. The firm also led negotiations across the full suite of project documentation, including offtake and feedstock agreements, EPC contracts and technology licence arrangements.
The senior debt financing was arranged by The Emerging Africa & Asia Infrastructure Fund (acting through Ninety One), The Arab Energy Fund (TAEF) and Qatar National Bank (QNB). The senior secured term loan facility forms part of a broader platform-wide capital raise that also includes a substantial equity investment from Al Mana Holding, based in Qatar, and Vision Invest, based in the Kingdom of Saudi Arabia.
Advisory team
The White & Case team was led by partners Kamran Ahmad and Paddy Mohen (both London), local partners Ryan Gawrych (London) and Ziad Gadalla (Cairo), and supported by partner Tamer Nagy (Washington, DC) and associates Miguel Bovill Rose, Sofia Wake-Walker, Asad Khan, Nada Hussein, Ronald Lee and Fola Oginni (all London), Dylan Nathwani (Dubai), and Mohannad Fathi, Mostafa Mahmoud and Nada Tarek (all Cairo).
