Milbank Receives “Middle East & Africa Renewables Deal of the Year” Award from TXF/Proximo MENA 2024 

Milbank LLP received the “Middle East & Africa Renewables Deal of the Year” award at TXF/Proximo’s MENA 2024 conference in recognition of the market-leading attributes of the Gulf of Suez II Wind Project in Egypt. The awards ceremony was held on March 5, 2024, in Dubai and was attended by London Global Projects, Energy & Infrastructure Finance Group partner John Dewar.

TXF/Proximo’s MENA 2024 Awards recognize notable transactions across the Middle East and North Africa in the infrastructure and energy sectors. Winners are selected based on input from the publication and peer firms across various sectors and regions.

Milbank advised JBIC, NEXI, EBRD, the international and Egyptian commercial banks and the EBL lenders on the US$690 million financing of the 500 MW Gulf of Suez Wind II Project, located in Egypt. This project will be one of the largest onshore wind power plants in Egypt and will support Egypt's renewable transition and utilization of the exceptional wind resources in the Gulf of Suez area, delivering clean power at one of the most competitive wind tariffs in the MENA region.

This is the fourth Egyptian wind build-own-operate (BOO) project on which Milbank has advised that has reached financial close in the space of a few years.

The Milbank team was led by Global Project, Energy and Infrastructure Finance and Islamic Finance partner John Dewar and included special counsels Vicky May and Jenna Darler, supported by associates Yi Ming Chan and Tom Rhys Jones.