The project involves the development of the 500 MW Solar Power Plant and its associated facilities at Manah in the Ad Dakhiliyah region of the Sultanate of Oman by Wadi Noor Solar Power Company set up as a partnership of EDF Renewables Middle East and Korea Western Power Co Ltd (KOWEPO).
Once fully operational in 2025, the Manah I Solar PV Plant project will considerably contribute to the greener future of Oman by avoiding the emission of more than 700 thousand tons of CO2 per year. Financial close was successfully reached on 25 December 2023.
Middle East partner Phil Hanson commented: "We are delighted to have advised on this project, which constitutes a key part of the Oman's energy transition plans, and to continue developing our relationships with EDF Renewables and KOWEPO".
The Herbert Smith Freehills deal team was led by Dubai-based partner Phil Hanson, supported by senior associates Adel Shageev and Charles Oliver and associates Maria Zerkalova, Rohy Alsaad, Umu Wurie and Yulia Turkina and trainee Donati Llapashtica. Partner Nick May, of counsel Nick Rutter and associate Konstantin Korennoy advised on the hedging aspects of the transaction and partner Michaël Armandou and avocat Félix Laval-Sébire provided support on French law.