Matouk Bassiouny & Hennawy acted as legal advisors to TSFE Infrastructure and Utilities Sub Fund, for themselves and on behalf of New and Renewable Energy Authority(NREA), Egyptian Electricity Transmission Company(EETC), and Suez Canal Economic Zone Authority.
TSFE negotiated a deal with ACWA Power for the development of a project valued at more than USD4 billion, which includes renewable energy power plants and a green ammonia/green hydrogen manufacturing facility. The agreement was signed at the new administrative center in Cairo, with the Egyptian Premier and Minister of Electricity and Renewable Energy. Egypt will play a major role in the green fuel market with TSFE’s commitment.
ACWA Power, a Saudi joint stock company, aims to accelerate the production of ammonia green in Egypt.
The Mahmoud Bassiouny-led Matouk Bassiouny & Hennawy Team provided legal advice to TSFE in this agreement.