The project involves the construction of a new reverse osmosis desalination plant for Emirates Water & Electricity Company (EWEC) in the Emirate of Abu Dhabi and is jointly owned by Abu Dhabi National Energy Company (TAQA) with a 60% stake and ENGIE with a 40% stake. Mirfa 2 Reverse Osmosis will be the third largest low-carbon intensive RO desalination plant in the UAE. The plant has the capacity to produce 120 million imperial gallons of water per day once fully operational. The project will significantly contribute to the UAE achieving its decarbonization targets under various ESG strategic initiatives, in particular the UAE Net Zero by 2050 initiative. Financial close was successfully reached on 30 May 2023.
Middle East partner Phil Hanson commented: "We are delighted to have advised on this project, which constitutes a key part of the UAE's energy transition plans, and to continue our recent run of successful ENGIE projects in the Middle East, which includes the Yanbu 4 water project and the Noor 2 street-lighting project".
The team comprised of Phil Hanson (Partner), Anthony Ellis (Partner), Charles Oliver (Senior Associate), Rohy Alsaad (Associate), Umu Wurie (Associate), Maria Zerkalova (Associate) and Amro Al-Ahmar (Associate), with support on hedging received from Nick May (Partner), Nicholas Rutter (Of Counsel), Vladi Resnik (Associate) and Konstantin Korennoy (Associate).