Linklaters advises on Sharjah’s first large scale independent combined cycle power project
- The project will be the Emirate of Sharjah’s first large scale independent combined cycle power project.
Global law firm Linklaters, advised Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), and six commercial banks including Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank Limited, Norinchukin Bank, Société Générale Bank, Standard Chartered Bank and KfW IPEX Bank, on the US$1.4bn project financing of the 1.8GW Hamriyah gas-fired combined cycle power project in Emirate of Sharjah, United Arab Emirates. The project will be the Emirate of Sharjah’s first large scale independent combined cycle power project.
The project, co-sponsored by Sumitomo Corporation, Shikoku Electricity Power Company, GE Energy Financial Services and Sharjah Asset Management, will be carried out under a BOOT (Build, Own, Operate, Transfer) scheme, and will supply power to the Sharjah Electricity and Water Authority (SEWA) for a 25-year period.
The project is part of SEWA’s plans to strengthen Sharjah’s electricity infrastructure to boost domestic power capacity to align with local energy needs.
The Linklaters team was led by partners, John Maxwell and Hirofumi Taba and managing associate Xylia Sim in Tokyo and comprised lawyers from Tokyo, Singapore, Hong Kong, Shanghai, Amsterdam, London, New York, Washington and Paris.
Tokyo Projects partner, John Maxwell commented:
" We are delighted to have been able to play our role supporting the financing for this flagship IPP in Sharjah.”
Tokyo Projects partner Hirofumi Taba added:
“This transaction will help deliver sustainable power to Sharjah, and reflects our commitment to the power sector, our geographic coverage and our ability to help all parties achieve a successful financial close on a multi-source financing such as this."