Hogan Lovells Dubai team is recognized in award-winning Project Finance deal of the Year in the IFLR 2020 Middle East Awards
Hogan Lovells Dubai team is delighted to announce that it has been recognized in the IFLR 2020 Middle East Awards in the category Deals of the Year, Project Finance for its work on the Taweelah Reverse Osmosis Independent Water Plant Project. The awards recognize the most innovative cross-border work from across the Middle East region over 2019-2020.
Hogan Lovells advised ACWA Power on a US$1.2bn Taweelah Independent Water Producer (IWP) Project. The Taweelah desalination IWP will be developed on a build, own and operate basis and have a production capacity of 200 million gallons per day of potable water. It is the largest reverse osmosis desalination plant in the world.
ACWA Power, AD Power and MDC Power each hold respective equity stakes of 40%, 20% and 40% in the project company.
The Hogan Lovells team was led by Dubai-based partner Sohail Barkatali, with support from Rahail Ali (Partner, Dubai), Imran Mufti (Partner, Dubai), Alex Wong (Partner, Singapore), Tony Nicholson (Senior Associate, Dubai), Shaakir Daud (Associate, Dubai) and Zack Lin (Associate, Singapore).
Recently, our Dubai team was also recognized for their work on this deal by IJGlobal in the category MENA Water Deal of the Year – Taweelah Independent Water Producer (IWP) Project.
Sohail Barkatali, Infrastructure, Energy, Resources and Projects (IERP) partner commented: "We are very proud for the Taweelah IWP project to be recognized once again. Hogan Lovells continues to be one of the strongest project finance brands in the MENA region."