Shalakany is proud to announce that it acted as a local counsel for the lenders in the 150 MW expansion of the Red Sea Wind Energy project in Ras Ghareb, Egypt, which now totals 650 MW, making it the largest wind farm in Africa. This project marks a significant milestone in renewable energy development in the region.
Our team previously acted as local counsel for the lenders on the original 500 MW project and has now provided comprehensive legal support for the 150 MW expansion. The consortium of lenders includes the Japan Bank for International Cooperation (JBIC), Sumitomo Mitsui Banking Corporation, the Hong Kong and Shanghai Banking Corporation (HSBC), the Norinchukin Bank, Société Générale S.A., and the European Bank for Reconstruction and Development (EBRD), under a Nippon Export and Investment Insurance (NEXI) cover.
The project is led by a consortium comprising ENGIE, Orascom Construction PLC, Toyota Tsusho Corporation, and Eurus Energy Holdings Corporation. The wind farm will generate clean energy for over a million homes and reduce carbon emissions by approximately 1.3 million tons annually.
Shalakany is honored to have contributed to both the original and expanded phases of this transformative project alongside our friends from @MilbankLLP, reinforcing our commitment to supporting sustainable energy initiatives in Egypt.
The team that worked on this project includes Mariam Fahmy, Mostafa El Zeky, Youssef Omar, Mohamed Nour, Haytham Hamdy, and Malak Sobhy.
We extend our heartfelt congratulations to all the parties involved in this landmark achievement. This collaboration illustrates the power of joint efforts in advancing renewable energy and promoting sustainability.
