Renewable Energy and Nuclear Power

Introduction

Shalakany has extensive experience advising on major renewable energy and nuclear power projects in Egypt, including wind, solar and nuclear energy mandates. The Firm acts for developers, project companies, international and local financial institutions and other stakeholders on project development, financing and related regulatory matters.

The practice has significant experience in wind power projects in the Gulf of Suez, including lender-side mandates for major BOO wind farms and the financing and expansion of large-scale wind projects. Shalakany also advises on solar power purchase agreements and renewable energy production and electricity distribution projects.

In nuclear energy, the Firm’s experience includes advising on Egypt’s first nuclear power project and on the Egyptian aspects of major cross-border transactions involving the nuclear energy sector.

Major Cases

• Shalakany advised GE Vernova, a spin-off of General Electric, on the potential USD 600 million sale of its nuclear steam business to Electricité de France (EDF), with a focus on Egyptian antitrust implications. The firm provided strategic guidance on Egypt’s merger control regime, including regulatory procedures and approval requirements. Shalakany also assessed potential risks and penalties under local competition law, ensuring the client’s full compliance and awareness of the legal landscape. This matter was significant due to its scale and the sensitivity of the nuclear energy sector within cross-border transactions.
• Shalakany acted as Egyptian counsel to a syndicate of international and local financial institutions, including JBIC, EBRD, Sumitomo Mitsui Banking Corporation, Norinchukin Bank, Société Générale S.A., and HSBC and this is in connection with the financing of the expansion of the 500 MW Ras Ghareb wind farm located in the Gulf of Suez, Egypt. The expansion, led by Red Sea Wind Energy S.A.E., a consortium comprising ENGIE, Orascom Construction, Toyota Tsusho Corporation, and Eurus Energy Holdings Corporation, adds 150–200 MW to the project.
• We are acting on behalf of Karm Solar in two separate solar power purchase agreements, one between them and Dorra Group, and the other with Arkan in relation to two residential and commercial development projects operated by Dorra Group and Arkan.
• We are acting on behalf of Karm Solar in a solar power purchase agreement between them and Cairo 3A in relation to an industrial project (poultry farm) operated by Cairo 3A.
• The Firm currently represents Karm Solar, one of the leading mid-scale power utility companies in Egypt, on a number of renewable energy production projects and a number of electricity distribution projects.
• We acted on behalf of JBIC, NEXI and a consortium of commercial lenders as lenders local counsel in relation to the first BOO wind farm power project in Egypt, located in the Gulf of Suez area, to develop, build, finance and operate a 250 MW wind farm project, which successfully achieved financial close in December 2017.
• We acted on behalf of IFC, EBRD and OPIC as lenders local counsel in relation to the second BOO wind farm power project in Egypt, located in the Gulf of Suez area, to develop, build, finance and operate a 250 MW wind farm project, which successfully achieved financial close in August 2019.

Key Contacts

Mariam Fahmy

Senior Partner

Mostafa El Zeky

Partner