Mazghouny & Co

Managing Partner: Donia El-Mazghouny

Number of partners: 3

Number of lawyers: 9

Languages: Arabic, English, and French

Firm Overview:

Mazghouny & Co is an independent boutique law firm based in Cairo, launched in February 2020, specialising in projects and infrastructure, energy and power, construction and real estate, financing, and corporate matters, which has a solid litigation experience. The team is modern, dynamic, and creative, and the law firm operates not just as a legal services provider, but as a business partner and an extension of the client's team, working proactively together to overcome challenges and maximise potential opportunities.

Key Clients:

The firm's clients base includes a selection of banks and financial institutions such as Abu Dhabi Exports Office (ADEX), ADIFinance (subsidiary of Abu Dhabi Islamic Bank), African Development Bank, China-Africa Development Fund, First Abu Dhabi Bank, FMO, Norfund, The Sovereign Fund of Egypt, and other international and local entities, such as Alamein Silicon Products (Egyptian Petrochemicals Holding Company – Echem), Alcazar Energy, Amarenco, EDF Power, Egyptian Electricity Transmission Company (EETC), Egyptian Gas Regulatory Authority (GasReg), Elsewedy Electric, Empower New Energy, Engazaat, Engie, Fertiglobe, Globeleq, HelleniQ Energy, Intro Group, Instashop, juwi, New and Renewable Energy Authority (NREA), Orascom Construction, Salcef, Scatec, AlTawakol Gila group, Vision Invest, and Voltalia.

Main Areas of Practice:

Energy, Projects & Infrastructure:

■ Advising Norwegian energy and infrastructure company Scatec on its partnership with Fertiglobe and The Sovereign Fund of Egypt for the development of a 100MW electrolyser to produce green hydrogen for use by an ammonia manufacturing facility in Ain Sokhna, which is the first green hydrogen project set up in Egypt

■ Advising Scatec on the development of 2 decarbonisation projects with the Ministry of Petroleum companies including the Egyptian Petrochemicals Holding Company (Echem), and Misr Fertilizers Production Company (Mopco) for the development of green ammonia projects in Damietta and acting as local counsel for the project company

■ Advising an EU investor on the development of the first Carbon Capture and Storage (CCS) project in Egypt, providing support with the review of the legal framework applicable to cross-border CO2 storage in Egypt

■ Advising Scatec on its Obelisk 1GW solar and 200 MWh battery storage project in Nagaa Hammadi to sell electricity to the Egyptian Electricity Transmission Company (EETC), including the drafting and negotiation of all project and financing agreements, until reaching financial close of the project, and all regulatory and day-to-day matters

■ Advising Scatec on the development of Dandara 1GW solar PV and BESS project for EgyptAlum to feed its aluminium factory in Nagaa EHammadi, which is the largest wheeled IPP project in the C&I sector in Egypt

■ Advising Scatec on the development of its 1-5GW wind power project in Egypt, as part of the Giga Wind projects under development for the Egyptian Ministry of Electricity and Renewable Energy, and the negotiation and drafting of Shadwan wind project documents

■ Advising Intro Utilities, Intro Group‘s sustainable power and utilities arm, with respect to its 15-year energy supply project with the National Company for Maize Products, a subsidiary of Cairo 3A, and a leading company in the agri commodities market in Egypt, consisting in a BOT co-generation unit to supply NCMP with its entire 14 MW electricity demand and most of its thermal energy needs

Banking and Finance:

■ Assisting Scatec in closing non-recourse project financing of USD 479.1 million provided by EBRD, AfDB, and BII for its 1GW solar with 200MWh BESS project, in addition to the closing of a USD 120 million equity bridge loan in respect of the project

■ Assisting Abu Dhabi Fund for Development acting through its export credit office Abu Dhabi Exports Office (ADEX) in connection with a USD 100 million re-lending facility agreement with the National Bank of Egypt to finance the bank’s provision of sub-loans to local importers and buyers of eligible goods or services from UAE or related companies

■ Acting as local legal advisor to the lenders in respect of a euro term loan facility of EUR 76,203,750 for the supply of new railway coaches to the Egyptian National Railways company guaranteed by the Egyptian Ministry of Finance

■ Assisting FMO, alongside Clifford Chance, to sign a credit guarantee agreement, worth USD 50 million, with Egypt’s Commercial International Bank (CIB), to cover loans granted to the bank’s micro, small and medium enterprises (MSMEs), including underserved segments

■ Acting as local legal advisor to Scatec in connection with the refinancing of the non-recourse project debt for 6 solar power plants in Benban, Egypt, with a total capacity of 380 MW, through the issuance of 19-year USD 334.5 million investment-grade non-recourse Green Project Bonds, which benefit from a Climate Bond certificate from the Climate Bond Initiative

■ Acting as local legal advisor to the French renewable energy company Voltalia in connection with the disbursement of a USD 25 million facility for its PV project in Benban solar park

■ Advising the African Development Bank (AfDB) on a USD 26 million corporate facility to finance the expansion of the capacity of a number of leading hospitals in Egypt

Corporate & M&A:

■ Advising ADIFinance, a Shari’a compliant leasing services company, on the potential acquisition of Amlak, a leading Islamic home finance company in Egypt, covering all due diligence and regulatory checks aspects, and support with offers’ submission

■ Advising First Abu Dhabi Bank (FAB) as lending bank and pledgee (together with Eversheds Sutherland) in connection with the acquisition by Cleopatra Hospitals Group, one of Egypt’s largest private hospitals groups, of UAE’s Alameda Healthcare Group

■ Advising a leading GCC development and investment holding company on the acquisition of participation in the first Sustainable Aviation Fuel (SAF) project being developed in Egypt

■ Advising Norfund in respect of the acquisition of equity in a USD 500 million renewable energy project (together with Eversheds Sutherland) through an offshore holding structure

Advising Engazaat on its partnership agreement with CI Capital PE for Fund Management and Investment (CIPE), for the launch of the region’s first green infrastructure fund targeting USD 200 million, addressing the Water–Energy–Food nexus

■ Acting as legal advisor to buy side with respect to the +EUR 12 million acquisition by an international energy player of a leading local company specialised in the financing, design, installation, and commissioning of PV solar power plants

■ Acting as legal advisor to sell side in the +USD 11 million acquisition by a leading regional clean energy investment fund of a solar PV project in Benban solar park

■ Acting as legal advisor to buy side in connection with the due diligence for the acquisition of the 500MW solar PV BOO project developed by AMEA Power in Kom Ombo, Egypt

■ Advising Algihaz Holding in connection with the acquisition of one of Valentine Maritime Ltd’s Egyptian subsidiaries from Maridive & Oil Services SAE

Construction & Real Estate:

■ Advising Scatec on all Obelisk project EPC and O&M agreements, supporting with the redrafting of the agreement in alignment with PPA requirements, and negotiating HV agreement with supplier and other EPC agreements with subcontractors

■ Advising the consortium of Scatec and Orascom Construction on their EPC and O&M joint venture for a green hydrogen project set up in SCZone

■ Advising the Egyptian Electricity Transmission Company (EETC) on a settlement with State Grid Corporation of China in connection with a transmission lines EPC project

■ Advising juwi on the construction of world’s largest solar hybrid project at the Centamin off-grid gold mine in Egypt, with a capacity of 36 MW bi-facial solar and 7.5 MW battery-energy storage system

■ Advising a lighting technologies company on the acquisition of about 15,000sqm of industrial land in 10th Ramadan City

■ Advising Tawakol Technology in respect of its EGP 122 million contract for the supply of equipment to the Greater Cairo Metro Line 4 project

■ Advising Italian industrial group Salcef in connection with its EGP 300 million contract with an Egyptian contracting company for the refurbishment and maintenance of railway lines for the Egyptian National Railway Authority (ENR)

■ Advising Spanish information technology and defence systems company Indra Sistemas on the restructuring of their portfolio in Egypt including procurement work for the Ismailiya Tunnels, Cairo Metro, and Monorail projects for governance and tax optimisation

Negotiation support and settlements:

■ Acting as legal counsel to the Benban Solar Developers Association in connection with the EGP 1.6 billion settlement of the Cost Sharing Agreement cost overrun dispute with the State-owned Egyptian Electricity Transmission Company and drafting and negotiating the settlement agreement on behalf of all 32 Benban project developers

■ Advising Italian developer Italgen on its negotiations with the New and Renewable Energy Authority (NREA) and Egyptian Electricity Transmission Company (EETC) in connection with the development of 320 MW wind power project under the merchant scheme in the Gulf of Suez, converted into a BOO project; and advising Italgen on the exit from the project and the settlement reached with NREA and EETC to effect the exit

■ Acting as local legal advisor to NREA on the settlement of a number of operating issues with Siemens Gamesa Renewable Energy company in relation to the authority’s 3 wind projects with a total capacity of 580MW in Gabal Elzayt area financed by KfW and JICA

■ Advising NREA on contractual liability in relation to road construction works carried out for wind developer Lekela in connection with its 250MW West Bakr wind project in the Gulf of Suez in Egypt

■ Advising Italian company and world leader in medical equipment design General Medical Merate (GMM) in its negotiation with the Egyptian Authority for Unified Procurement (UPA) in connection with the USD 1,350 million deal for the procurement of mobile medical devices

Contacts:

Donia El-Mazghouny, [email protected]

[email protected]

15 Abou El-Feda Street, Zamalek, Cairo, Egypt

Tel: +202 2735 2678 / 2735 2682