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Eversheds Sutherland powers to the top at PFI Awards
- Middle East
Eversheds Sutherland wins Middle East PPP Deal of the Year at the 2016 PFI Awards for US $3bn Facility D Power and Water project in Qatar
The award recognised the Middle East team’s innovative work advising Qatar General Electricity and Water Corporation (Kahramaa) on a $3 billion tender for a new independent power and water plant (IWPP). The deal involved the construction of Facility D, a 2,520 MW gas-fired power plant and a 136.5 million gallons per day associated desalination plant near the Qatar Economic Zone, south of Doha. The output of the plant will represent almost 25% of Qatar’s total installed power and 30% of water desalination capacity.
The team on Facility D was led by Tim Armsby (Partner and Head of Energy & Infrastructure for the Middle East) and principal associate Nick Pinder (Qatar) who provided legal expertise in relation to matters of English and Qatari law.
The 2016 PFI Awards Dinner took place in February 1 2017 at the Hilton, Park Lane, London. The awards are run by Project Finance International, the global project finance intelligence resource.
Tim Armsby commented:
“It is great to see the team’s work on this project rewarded again. There were many challenges and a number of new and inventive structures implemented on the project. This is the first independent power and water plant in Qatar with a cost of water production lower than the end-user tariffs and the deal’s structure is a leading example of the future of power and energy provision across the region. Getting this accolade from PFI is a great honour.”
Nasser Ali Khasawneh, Middle East Managing Partner, said:
“We are a market leader in the project finance space in the Middle East and so it is great to see Eversheds Sutherland’s work in the region recognised at these prestigious awards.”
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