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Eversheds scoops prestigious award win at MENASOL 2015

Eversheds scoops prestigious award win at MENASOL 2015
  • United Kingdom


    Law firm Eversheds has won the award for Solar Project Finance Advisor of the year, at the 7th Middle East & North Africa Solar Conference & Expo in Dubai. Held annually, this year’s edition of the event marked the first time that PV and CSP companies, advisory bodies and regional governmental entities were recognized for their efforts to help develop solar power in the region.

    Eversheds was honoured to be in considered for the award in competition with Chadbourne & Parke and the International Finance Corporation (IFC). The award is given to the finance & advisory organisation that has excelled in preparing successful solar project finance throughout the last year. Key criteria included details on finance structure, risk mitigation and debt equity of the finance projects undertaken by the firm.

    Eversheds advises on some of the most important solar power transactions in the region, and is currently advising on 10 of the 12 solar projects in Jordan Round 1. This includes acting for Diamond Generating Europe on the 52MW Shams Ma’an project which will be one of the largest solar projects in the Middle East, and acting for a number of developers on projects including EPC and financing.

    The firm also advised Scatec, a leading solar energy provider, on a joint venture to construct and operate three solar energy projects in Jordan and Martifer Solar on 4 solar PV projects in Jordan Round 1 with a total of 50MW. It has also worked on over 15 other solar equity investments in the Middle East for companies such as E.on, Skypower/FAS and Desert Tech.

    The firm is also advising 20 developers in the Feed in Tariff program in Egypt and advised 2 bidders in the 200MW solar PV IPP launched by the Dubai Electricity and Water Authority. The nominations were assessed by a panel of industry experts including: Dr. Rabia Ferroukhi, Head of Policy Unit Deputy Director – Knowledge, Policy and Finance, IRENA; Jonathan Walters, Former Director – Regional Programs and Partnerships at the World Bank; and Luis Crespo, President of the European Solar Thermal Electricity Association.

    MENASOL’s inaugural awards ceremony took place on Wednesday 13th May 2015 at Hyatt Regency in Dubai.

    Michelle Davies, Global Head of Clean Energy and Sustainability at Eversheds, comments:

    “This is an excellent achievement and we are extremely proud to be recognised by the industry. The Middle East has witnessed a real pro-solar shift and is making huge advances. The award acknowledges the achievements of everyone in the team and their commitment to helping further develop solar energy in the region.”

    Nasser Ali Khasawneh, Eversheds Middle East Managing Partner, said:

    “This ceremony is a reflection of the growing scale and importance of the solar industry in the region- and we’re thrilled to be the inaugural recipients of its Solar Project Advisor of the year award. The win emphasises our strong position in the renewable energy field- both globally and regionally- and the awards criteria underline our continued commitment to delivering excellent service that not only aims to benefit our clients, but also helps to grow the regional solar industry.”

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