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About Simon

Simon Stevens represents developers and lenders in a wide range of infrastructure projects throughout the United States and the world, including the Middle East and Africa where he was resident for five years in Dubai. His experience has encompassed power projects (whether combined or simple cycle; integrated water and power; solar power; wind power; geothermal power or clean coal); petroleum refineries; accommodation; and others, including those financed on a project finance or PPP basis or on balance sheet.

Simon’s experience includes both project documentation, such as power purchase agreements; engineering, procurement and construction agreements; operation and maintenance agreements; procurement agreements; service agreements; supply agreements, and financing documents, including documentation for senior secured loans; equity bridge facilities; mezzanine debt financing and equity financing.

Prior to his legal career, Simon served as a sergeant in the U.S. Army.

Experience

Recent Notable Matters

International Projects

ENGIE International Power S.A. Dubai Branch — as lenders’ international counsel on the 300 MW Solar Photovoltaic (PV) Independent Power Project (IPP) in Sakaka and as lenders’ counsel on the Dumat Al Jandal 400MW Wind Project

Fotowatio Renewable Ventures and ATC — on the 50 MW Safawi Round 2 solar PV project in Jordan

Saudi Oger and ATC — one of the four shortlisted solar projects in the Jordan Round 2 direct bid round at the bid stage through to signing of the power purchase agreement

Alcazar Energy Partners — four 50 MW solar projects (AEES1, Delta, Aten and Horus projects) in Round 2 of Egypt’s renewable feed-in tariff programme; named 2017 Global MLA Deal of the Year by Project Finance International, on the acquisition of the Ma'an Solar PV Project in Jordan; on the development and financing of the 82 MW Al Rajef Wind IPP in Jordan and on the development and financing of a first round Wind IPP project in Jordan

Bidding consortium — Sweihan IPP project in Abu Dhabi

Lenders to a bidding consortium — Umm Al Hayman wastewater project in Kuwait

Bidding consortium — 800 MW Phase III of the Mohammed Bin Rashid Al Maktoum Solar Park, Dubai, U.A.E.

Lenders to a bidding consortium — 100 MW Phase II of the Mohammed Bin Rashid Al Maktoum Solar Park, Dubai, U.A.E.

Bidder — 280 MW integrated solar combined cycle independent power project at Al Abdaliya, Kuwait

Adenium Energy Capital — development and financing of three 10 MW and one 20 MW solar PV projects in the context of Round 1 of the Jordanian direct bid process (each of which is part of the “Seven Sisters” projects, awarded Middle East Renewables Deal of the Year 2014 and the Middle East Overall Deal of the Year 2014 by IJGlobal Middle East)

Sponsors — Fadhili cogeneration project in Saudi Arabia

Sponsors — project financed Fadhili bachelor camp project in Saudi Arabia

Sponsors — Mirfa IWPP in Abu Dhabi

Sponsors — Facility D IWPP in Qatar

Sponsors — bid for the Salalah II project in Oman

Sponsors — oil shale independent power project and captive oil shale mine in Jordan

Projects in the United States

AP Energy Holdings Inc and South Field Energy LLC — $1.3 billion project financing and equity arrangements for the construction of the South Field Energy project, a 1,182 megawatt combined-cycle natural gas electric generating facility located near Wellsville, Ohio

U.S. Department of Energy — $96.8 million loan guaranty for the construction of a geothermal project located in Malheur County, Oregon; a proposed loan guarantee to Georgia Power Company, Oglethorpe Power Corporation and Municipal Electric Authority of Georgia for the financing of the 2,214 MW Vogtle nuclear power project in Georgia; the potential financing of the Kemper 582 MW Integrated Gas Combined Cycle clean lignite-fueled project located in Georgia

Gestamp Eólica — acquisition of the development-stage 60 MW Flat Water wind farm in Nebraska; the development-stage 50 MW Roth Rock and 50 MW Roth Rock North wind farms in Maryland; in the acquisition of a controlling interest in the development-stage 23 MW Punta Lima wind farm in Puerto Rico; in respect of multiple project investment transactions, including the $102 million tax equity investment in the 203.5 MW wind farm in Utah; a $90 million tax equity investment in its 60 MW wind farm in Maine; and a $60 million tax equity investment in the 40 MW wind farm in Vermont

Hunt Refining Company — $800 million expansion of a petroleum refinery, and in particular with respect to the drafting and negotiation of back to back unwrapped engineering, procurement and construction and engineering, procurement and fabrication contracts

American Solar Direct — $50 million tax equity investment by Washington Gas in a partnership for the development and ownership of a portfolio of residential solar projects in California

Union Bank — financing of the 21 MW Blythe solar PV project in California

Royal Bank of Scotland, plc and Union Bank — $534 million project finance/mezzanine syndicated financing of two dual-fired peaking power projects in Connecticut being developed by GenConn energy, a joint venture between NRG Energy, Inc. and The United Illuminating Company

Royal Bank of Scotland, plc — $20 million revolving credit facility to fund repowering by a major power producer in the United States and in a $20 million revolving working capital facility to fund developmental work for a proposed nuclear power project in the United States

AES — 300 megawatt coal-fired cogeneration plant in Oklahoma in a $118 million syndicated refinancing

PPM Energy, Inc. — acquisition of 500 megawatts of wind energy turbines, and in particular with respect to the negotiation, drafting and execution of the purchase and maintenance and service contracts

Publications and Speeches

“Lender Expectations for Solar PV EPC Contracts,” Middle East Solar Industry Association Trade Mission to Jordan and Palestine, November 15, 2016.

“Raising Limited Recourse Finance in Jordan: Opportunities and Challenges,” Middle East Solar Industry Association Trade Mission to Jordan and Palestine, November 15, 2016.

“Sunrise in Pakistan as the Country Delves into Solar PV,” RenewableEnergyWorld.com, August 12, 2015.

“Project Finance Panel,” Middle East Solar Industry Association’s Renewable Energy Trade Mission, April 28, 2015.

“Egypt’s Renewable FIT Program Gains Traction,” RenewableEnergyWorld.com, April 24, 2015.

“Scaling Solar Energy in MENA through PPPs,” World Green Economy Summit & Public-Private Partnerships Platform, Dubai, U.A.E., April 23, 2015.

“How to Improve Your Cost of Capital,” Best Practices in Financing Large-Scale Solar Projects, Dubai, U.A.E., June 23, 2014.

“How to Be Successful in Jordan’s Round II & Round III Direct Proposal Solar Program,” MENASOL, Dubai, U.A.E., May 7, 2014.

“Real Risks and Perceived Risks of Lenders’ Funding of Renewable Energy in Jordan,” Jordan Solar Projects Finance Workshop, Amman, Jordan, November 11, 2013.

“Islamic Bonds Go Mainstream,” Infrastructure Journal, October 24, 2013 (Part 1) and November 1, 2013 (Part II).

“Limited and Non-Recourse Project Financing,” Financing Solar Projects in the Middle East, Dubai, U.A.E., October 21, 2013.

“Sisyphus or CFIUS – Can the President Roll the Development of Your Power Deal Down the Mountain?” Power Finance & Risk, October 22, 2012.

Credentials

Education

Georgetown University,
B.S.F.S.
2000
magna cum laude
Georgetown University Law Center,
J.D.
2005
magna cum laude

Bar Admissions

District of Columbia
Texas

Affiliations

Middle East Solar Industry Association, Dubai, U.A.E.
Legal Director and Board Member, 2014 - 2016
Middle East Solar Industry Association, Dubai
U.A.E. Membership Director, 2017

News

Insights

Insights

Doubling Down on Bid Compliance

May 8, 2018

On May 8, 2018, Senior Counsel Simon Stevens gave the following presentation at the Middle East Solar Industry Association’s (MESIA) Solar Industry Briefing & Networking event in the Kingdom of Saudi Arabia. His presentation examines a case study for bid compliance within Saudi Arabia.

The Bid Submission Process - Some Practical Tips

October 4, 2017

This overview provides some practical tips on managing the process of submitting a competitive bid tender as well as some suggestions to avoid common pitfalls.  Also included are some best practices that will help make a complex and demanding task easier.

Egypt's Renewable FiT Program Gathers Pace with the Release of Draft Project Documents

April 12, 2015

Hot on the heels of the long-awaited release of definitive guidelines on SPV incorporation (on which we reported on 7 April), the Egyptian Electricity Transmission Company has released discussion drafts of the major project documents proposed for Egypt's renewable feed in tariff. This programme was launched at the end of 2014 and the first round of bidders was prequalified almost immediately thereafter. Those prequalified bidders are now gearing up to execute their projects - and it is becoming increasingly apparent that this will require them to move with some rapidity. The issuance of the...

EgyptERA Issues Final Guidelines for the Renewable FiT Program

April 7, 2015

Egypt's Egyptian Electric Utility and Consumer Protection Regulatory Agency - EgyptERA - has issued its long-awaited guidelines on special purpose vehicle incorporation. These guidelines are identical to the draft guidelines on which we reported on 24 March. As expected, the guidelines permit a prequalified developer to hold equity sufficient to build up to 100MW per substation and in each of the solar and wind programmes. It is understood that there will be four separate solar project substations and five separate wind project substations. Therefore, a single qualified developer could...

EgyptERA Expected to Issue Guidelines for the Renewable FiT Program - With a Plot Twist!

March 24, 2015

Egypt's Egyptian Electric Utility and Consumer Protection Regulatory Agency is expected to issue long-awaited guidelines on special purpose vehicle incorporation. In recent days it has emerged that these guidelines will be more flexible than previously expected. This is expected to be particularly welcome news to prequalified developers interested in participating in multiple projects within the feed In tariff programme. However, it is expected that the rules will require developers seeking to maximise their participation in the program to act quickly. Previously, it was believed that the...

Egypt Renewable FiT Taking Shape

February 11, 2015

Egypt's renewable Feed In Tariff (FiT) continues to take shape, albeit at a slightly reduced speed than expected earlier. Happily, the additional time appears to be being used to respond to constructive comments from developers and other stakeholders. It is also expected that some clarifications will be issued in writing. Developers are reporting that up to now many details are only emerging verbally in face to face meetings, which many have found somewhat frustrating. Details therefore remain sketchy, but indications are that EgyptERA is planning in the next week to issue guidelines that...

Renewable Power in Egypt: The Right FiT?

February 4, 2015

The Government of Egypt has said that Egypt must invest US$12 billion in the electricity sector over the next five years in order to meet that country's urgent electricity demands. Renewable power - both solar and wind - will be a key part of this initiative. Egypt plans up to 2,300 MW of solar and up to 2,000 MW of wind generation in the first regulatory period. This will include 2,000 MW of Solar PV from 500 kW up to 50 MW, 300 MW of Solar PV Projects below 500 kW and 2,000 MW of wind generation. The first regulatory period will end when these targets are met, or after 2 years, whichever is...

Noteworthy

Events