Milbank Advises Lenders on the 505 MW Amunet Wind Project in Egypt

Milbank LLP advised JBIC, NEXI, IFC and the international and Egyptian commercial banks on the 505 MW Amunet Wind Project – the largest wind farm in Egypt.

The Amunet Wind Project was announced in Cairo on 30^th November 2022. The US$800 million finance package will support UAE-based AMEA Power and Japan’s Sumitomo Corporation to build, own and operate the Amunet wind farm which will help reduce Egypt's carbon footprint by 1.7 million tons of greenhouse gases annually.

Hussain Al Nowais, Chairman of AMEA Power, said, "The company is leading the development of renewable energy across Africa, which through its global and regional partnerships, will deliver clean energy to millions of people around the continent. We are proud to reach this significant milestone and to be supporting Egypt in its energy transition journey and drive to accelerate sustainable development. Today's achievement would not have been possible without the hard work of AMEA power's world class team, the support of our project partners, lenders, advisors, and the cooperation of the Egyptian government."

John Dewar, partner in Milbank’s Global Project, Energy and Infrastructure practice in London, said, “We are honoured to have been involved in this ground breaking project that will have significant impact on the development of renewable energy in the MENA region.”

The London based Milbank team was led by partner John Dewar and associates Vicky May, Jenna Darler, Yi Ming Chan, Sophie Lawrence, David Thomas and Phil Benger, and JBIC secondee Lewis Blundell.