Shahid Law Firm has been selected by the New and Renewable Energy Authority (NREA) to advice on its proposed joint venture with the UAE-based Masdar. Shahid Law shall be providing its legal advice along with the international law firm Eversheds.
The consortium – which retains PwC to advise on the financial aspects of the venture- is expected to advice on the legal framework for the project, setting up the joint venture company, and reviewing or drafting as necessary the power purchase agreement with the off-taker.
NREA’s share of the venture is expected to be 15-20%, to be financed by a US$ 50 million loan from the African Development Bank (AfDB); and the venture is expected to include the construction of a 200 MW wind plant in the Gulf of Suez area in Egypt.
