Power

Milbank has pioneered the application of limited recourse financing to power projects and our European team has advised on a number of groundbreaking European, Middle Eastern and African power deals. Our recent representations have included advising:

  • the lenders in the $2.5 billion Shuaibah independent water and power project (IWPP) in Saudi Arabia, the world's largest greenfield IWPP in terms of financing - named "EMEA Project Finance Deal of the Year" at the 2006 IFLR Awards, and "EMEA Power Deal of the Year 2005" by PFI Yearbook 2006 and Euromoney's Project Finance Magazine.

  • the respective project companies in the financing of $549 million Sohar power and water project in Oman and the $380 million Al-Ezzel power project in Bahrain - both made "Deal of the Year" by Project Finance magazine

  • the mandated lead arrangers (Arab National Bank, Banque Saudi Al-Farsi, Saudi Financial Group) in connection with the financing of Saudi Aramco's 1,000 MW Tihama Cogeneration Power Project in Saudi Arabia, the first largescale IPP in the Kingdom

  • the lenders to the $1.8 billion financing of the Umm al Nar IWPP in Abu Dhabi - made "Deal of the Year" by Project Finance magazine

  • the sponsors of the 700 MW Baymina Project - a transaction named "Deal of the Year" by Project Finance International magazine

  • the consortium in the purchase of ENEL's 2,611 MW Interpower unit, the third disposition of large-scale energy assets in the Italian electricity sector - named "Deal of the Year" by Project Finance magazine

  • the Northern Ireland utility, Viridian, in the 343 MW Huntstown Power Project near Dublin - the first independent power project in the Republic of Ireland to reach financial close

  • the consortium in the $1.4 billion financing of Taweelah A1 Project in Abu Dhabi, a transaction named "Deal of the Year" by International Financing Review, Project Finance and Project Finance International.

Our European lawyers have also advised on power projects in Bangladesh, Chile, Hungary, India, Indonesia, Jordan, Morocco, Oman, Palestine, Pakistan, Peru, Portugal, Saudi Arabia, Spain, the United Arab Emirates, the U.K. and Yemen.





Partners and Counsel

Dewar, John
Fletcher, Phillip
Holmes, Patrick
Magold, Rainer
Marsh, Cathy






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