Milbank’s London Project, Energy and Infrastructure Finance team earned recognition for advising on an award-winning deal at the GTR Charity Awards Dinner in London on 26 April. The award honors Milbank’s work in Renewable Energy industry and emerging markets.
The team, consisting of partner John Dewar, senior associate Jenna Darler and trainee Olivia Anderson, were recognised for their involvement on the Gulf of Suez Wind Farm Project, located in Egypt.
- The Gulf of Suez Wind Farm Project – GTR Best Deals Award 2018
Milbank advised the export credit agencies Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI) and international and Egyptian lenders on the financing of the $400 million 262.5 MW wind farm, near Port Said in Egypt, sponsored by a consortium comprising Engie, Toyota Tsusho and Orascom. Construction will take place for approximately 24 months; upon completion, the project company will operate and maintain the wind farm for 20 years. The Gulf of Suez Wind Project is a ground-breaking venture, not only is it the largest independent power sector financing in Egypt since the Arab Spring, this wind farm marks the first renewable energy Independent Power Producer (IPP) project of its kind and size in Egypt and aims at diversifying energy sources in Egypt by expanding the availability of despatch from renewable energy.
