backKing & Spalding advised on Islamic Finance News’ (IFN) Project & Infrastructure Deal of the Year for 2024.
King & Spalding advised a consortium on a $1.5 billion project led by French energy major, EDF, and Abu Dhabi-based renewable energy company, Masdar, alongside their partners Korea East-West Power Co. (EWP) and SUEZ, on the Amaala Utility PPP project located on the Red Sea in Saudi Arabia. The project consists of a fully optimized and decarbonized off-grid 100% renewable energy system (during both construction and operations), which will generate electricity from solar PV, bio diesel ICEs and BESS. It will also generate water from a desalination plant and contain multiple wastewater treatment plants. The cutting-edge project will also avoid the equivalent of nearly 350,000 tons of CO2e emissions every year compared to average infrastructures of this kind.
The K&S team included Tim Burbury, Adam Gray, Martin Hunt, Zaid Al Farisi, Aaron Lee, Noah Honch, Sam Muir, Sam Anastasiou, Eoin Coffey, Phil Rizk, Krystal Kong, Husni Al Far and Olivia Wynne Thomas.