We are delighted to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as the Egyptian legal counsel to the TSFE Infrastructure & Utilities Sub Fund (“TSFE”) for itself and acting on behalf of the New and Renewable Energy Authority, the Egyptian Electricity Transmission Company, and the Suez Canal Economic Zone Authority in connection with the negotiation of a framework agreement entered into with ACWA Power – a Saudi listed joint stock company - to develop a project worth more than USD 4 billion compromised of facilities, among others, renewable energy power plants, green hydrogen/ green ammonia manufacturing facility to further promote Egypt’s Green Fuel market.

The framework agreement was signed with the attendance of the Egyptian Prime Minister, Mostafa Madbouly, and the Minister of Electricity and Renewable Energy, Dr. Mohamed Shaker El-Markabi, in the New Administrative Capital.

The MBH team advising on the project was led by Mahmoud S. Bassiouny (Regional Managing Partner and Group Head of Finance & Projects) and included Amgad Nagy (Associate).