Mohamed El Harmy

Energy and Infrastructure projects

• Acted for a consortium consisting of ACCIONA energia (Spain), Swicorp (Saudi Arabia) and TBEA (China), on the financing of three photovoltaic plants in Egypt. The projects come under round two of the Egyptian government's feed-in-tariff program, which is aimed at stimulating private investment in over four GW of wind and solar power.

• Represented ACWA Power in connection with three solar PV power plant projects under the second round of the feed-in tariff program. The three projects have a total capacity of 165.5 MW at a total investment value of USD 190 million. 75% of the project cost is financed through a non-recourse project debt from the European Bank for Reconstruction and Development and the Industrial and Commercial Bank of China.

• Represented Taqa Arabia for Solar Energy, a subsidiary of Taqa Arabia, in connection with the development of a 2x50 MW photovoltaic power project as issued under the same FiT program of the Egypt Ministry of Electricity & Energy. Project Finance International's Global Multilateral Deal of the Year 2017.

• Acted for Bank of Tokyo-Mitsubishi, Japan's largest bank, with respect to amendments/re-scheduling of the facilities granted to an Egyptian refinery company whereby the total facilities were increased to USD 3.3 billion.

• Represented Melrose Resources Plc in a GBP 165 million merger with Petroceltic International Plc for the purpose of the proposed re-admission of the enlarged share capital of Petroceltic to the AIM Market of the London Stock Exchange and the ESM of the Irish Stock of Exchange.

Banking and Finance   

• Acted for the Egyptian Government, acting through the Ministry of Finance on a USD 3 billion dual tranche sustainable financing facility, representing the first green financing for the Government of Egypt from commercial banks. This deal won Islamic Syndication Deal of the Year Award 2022 from Bonds, Loans & Sukuk Middle East Awards. Baker McKenzie was awarded “Banking & Finance Team of the Year” at the Middle East Legal Awards 2022, off the back of our work on this deal.

• Acted for the lenders in relation to the financing of Canal Sugar’s project for the development of a large-scale agricultural farm (approximately 188,000 acres) in Minya, Egypt.  This deal is awarded Best Structured Finance Deal in North Africa at the EMEA Finance Achievement Awards 2021.Advised an international bank with the restructuring of the existing financing of USD 80 million to an Egyptian company to finance the acquisition of a stake in a BVI company.

• Acted as a legal advisor to international bank in connection with extending a term loan facility agreement to an oil and gas company to use the loan proceeds in the payment of certain outstanding amounts.

• Acted on extending a financing of USD 220 million to a multinational telecommunication services provider to refinance its existing indebtedness.

• Advised group companies on a financing package of up to USD 877 million to US and Norwegian parent companies.

• Acted as an Egyptian counsel in connection with extending a financing of USD 45 million to a DIFC company to finance the acquisition of a controlling stake in a plastic pipes company.

• “Highly Regarded Lawyer” by IFLR1000 in 2020 and 2021
• “Rising Star” by Legal 500 EMEA in 2020 and 2021

• Egyptian Bar Association