SHALAKANY ASSISTS THE LENDERS OF THE
RAS GHAREB WIND FARM PROJECT TO
ACHIEVE FINANCIAL CLOSE

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SHALAKANY ASSISTS THE LENDERS OF THE RAS GHAREB WIND FARM PROJECT TO ACHIEVE FINANCIAL CLOSE

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Shalakany is pleased to announce that it has acted as local counsel to several foreign and local financial institutions (including Japan Bank for International Cooperation, the European Bank for Reconstruction and Development, and Sumitomo Mitsui Banking Corporation, the Norinchukin Bank, Société Générale S.A. under a Nippon Export and Investment Insurance cover, in addition to HSBC (Egypt) S.A.E) in connection with financing of the 500MW Wind Farm project located at Ras Ghareb, Gulf of Suez, Egypt, which is being developed by Red Sea Wind Energy S.A.E, a consortium between ENGIE, Orascom Construction, Toyota Tsusho Corporation and Eurus Energy Holdings Corporation.

 

The project is part of the Egyptian government’s drive to increase the share of renewables in the energy mix and demonstrates Egypt’s climate agenda.The Shalakany team was comprised of Mariam Fahmy (Partner), Mostafa El Zeky (Senior Associate), Youssef Helmy (Associate) and Youssef Omar (Associate).

Mariam Fahmy, the lead partner from Shalakany acting on the project, said: “We are delighted to have supported the Lenders on yet another important renewable energy project by leveraging our Firm’s in depth experience in this ever-expanding sector of national importance.”
Mostafa El Zeky, the Senior Associate working alongside Mariam Fahmy, said “I am proud to have assisted in this landmark project and congratulate all stakeholders on this successful closing.”