Trowers & Hamlins

Trowers & Hamlins acted as lead legal advisers to the sponsors for Saudi Arabia’s second privately funded water and power project, the US$2 billion Shuqaiq IWPP.  The sponsor consortium was led by ACWA Power Projects (Saudi Arabia), Mitsubishi Corporation (Japan) and Gulf Investment Corporation (co-owned by the six GCC nations). 

The project financing for the Shuqaiq IWPP was in excess of US$1.9 billion and included a US$140 million Islamic tranche provided by Al Rajhi Banking and Investment Corporation and Riyad Bank.  Financial close was achieved in March 2007.