TSFE’s framework agreement with ACWA Power
Matouk Bassiouny & Hennawy were the legal advisors for TSFE Infrastructure and Utilities Sub Fund (TSFE), for itself and acting on behalf of the New and Renewable Energy Authority (NREA), The Egyptian Electricity Transmission Company (EETC), and Suez Canal Economic Zone Authority (SCZONE).
TSFE negotiated an agreement entered into with ACWA Power to develop a project worth more than USD 4 billion consisting of facilities, among others, renewable energy power plants, and a green hydrogen/ green ammonia manufacturing facility. The agreement was signed in the new administrative capital with the Egyptian Prime Minister and Minister of Electricity and Renewable Energy present. With TSFE’s commitment to sustainable energy sources, Egypt is expected to play a leading role in the emerging green fuel market.
ACWA Power –a Saudi-listed joint stock company – aims to enable and accelerate large-scale production of green ammonia in Egypt.
Matouk Bassiouny & Hennawy team, led by Mahmoud S. Bassiouny, provided legal advice to TSFE during this agreement.
