LONDON AND DUBAI – Bracewell LLP has been shortlisted for “Infrastructure and Energy Projects Team of the Year” at Legal Week’s upcoming Middle East Legal Awards.
Bracewell was shortlisted for its leading role in the financing of the Saad 300 MW solar PV IPP in Saudi Arabia. Led by partners Tom Jamieson and Andrej Kormuth, the Bracewell team advised the lenders on all aspects of the project financing, including the offtake arrangements with Saudi Power Procurement Company; the EPC contract with Elsewedy Electric T&D, a subsidiary of Elsewedy Electric; and the secured conventional and Islamic financing for the borrower, Al Ghazala Energy Company.
The project, developed by Jinko Power, reached financial close on January 18, 2023, after navigating difficult macroeconomic conditions, including spiraling inflation and material sourcing difficulties. The Saad plant will utilize cutting-edge monoline bifacial solar modules, ensuring that the panels capture maximum sun irradiation throughout the day.
Presented by Legal Week, the Middle East Legal Awards honor outstanding achievements in the legal profession and underline the crucial role lawyers play in promoting the rule of law. Winners will be announced on May 18 in Dubai.