Baker McKenzie has advised a consortium consisting of ACCIONA Energía (Spain), Swicorp (Saudi Arabia) and TBEA (China), on the USD 180 million project financing of three photovoltaic plants in Egypt. The projects come under Round 2 of the Egyptian Government's feed-in tariff programme which is aimed at stimulating private investment in over 4 GW of wind and solar power. 

Located at Benban in Aswan, the stations will have a total rated capacity of 150 MW and produce clean energy equivalent to the consumption of 150,000 homes. Construction work is expected to start in December 2017, with entry into service planned 12 months after. 

The projects required the collaboration of several Baker McKenzie offices, namely London, Cairo, Madrid, Hong Kong and Amsterdam, as well as interaction with parties in China and Bahrain.

The Baker McKenzie team was led by partners Calvin Walker (London) and Lamyaa Gadelhak (Cairo) supported primarily by senior associates Luka Lightfoot (London) and Mohamed Elharmy (Cairo) among a team of other lawyers. 

Calvin Walker commented: "We are delighted to have advised on these Round 2 projects particularly in light of the collaboration of clients and legal support from our European, Middle East and Asian offices as well as the excellent co-ordination of the various jurisdictional input from our team on the ground in Cairo. The projects confirm confidence in Egypt's renewable energy sector and in North Africa more widely, as well as demonstrating our experience in the renewables sector and our unique cross- border expertise."

Last year, under Round 1, Baker McKenzie advised Bayerische Landesbank and Arab African International Bank on the USD126 million project financing for Infinity 50 Renewable Energy S.A.E. 
 
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