TSFE’s framework agreement with ACWA Power

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Posted: 16th January 2024 by
Courtney Evans
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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.


About the Author

Courtney Evans
Courtney studied English Literature and Creative Writing at University and is the Editorial Assistant for Lawyer Monthly, Finance Monthly and CEO Today writing articles for all three publications. Courtney is an experienced writer who enjoys researching for the articles. When she’s not working, Courtney can be found planning her next budget friendly trip and trying to tick off new experiences on her ever-growing bucket list.
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