Global law firm White & Case LLP has advised a consortium led by UCC Holding (Qatar) alongside Kalyon G.I.S. Energy (Türkiye), Cengiz Energy (Türkiye), and Power International (US) on the signing of landmark, first-of-their-kind US$7 billion investment and power purchase agreements with the Ministry of Energy of the Syrian Arab Republic and the Public Establishment for Transmission and Distribution of Electricity related to eight new power plant projects across Syria with a combined generation capacity of 5,000 MW.
“These transformative projects demonstrate our deep commitment to advising on complex, high impact developments in Syria and the region, underscored in this case by the strategic participation of Qatari and Turkish investors,” said White & Case partner Charbel Abou Charaf, who co-led the Firm’s deal team.
The signing represents a major milestone in the rehabilitation and modernization of Syria’s electrical-generation infrastructure and marks the first major international integrated public-private partnership (PPP) in the Syrian energy sector.
“These projects are a defining example of how strategic partnerships and legal innovation can help rebuild and modernize critical infrastructure,” said White & Case partner Mukund Dhar, who co-led the Firm’s team. “The White & Case team have helped shape a transaction that will redefine the landscape of Syria’s power sector and set the standard for future international investment.”
White & Case’s cross-border team guided the consortium through complex legal, regulatory, contractual and PPP structuring issues, delivering a robust framework aligned with international standards for performance, efficiency and environmental and safety compliance. The Firm’s advice enabled the consortium to navigate the intricacies of the Syrian regulatory environment and establish a new model expected to catalyze further international investment in key economic and service sectors for the country.
The projects include four high efficiency, gas-fired combined-cycle power plants – North Aleppo (1,200 MW), Deir Azzour (1,000 MW), Zayzoun (1,000 MW) and Mehradeh (800 MW) – and four solar (PV) installations – Wedian Al-Rabee (200 MW), Deir Azzour (300 MW), Aleppo (300 MW) and Homs (200 MW).
The White & Case team was co-led by partners Charbel Abou Charaf and Mukund Dhar (both London) and included local partner Joshua Cohen (Doha), partners Ates Turnaoglu, Emre Ozsar, Sebastian Buss (all Istanbul), Paddy Mohen and Emiko Singh (both London), local partners Ziad Gadalla (Cairo) and Claire Tuch (Johannesburg) and associates Agnieszka Zarowna, Alex Field, Ali Shakil, Bethanie Abrahams, Fola Oginni, Robyn Anderson, Husnayn Nazim (all London), Annapoorani Ramu, Elias Choueifati (both Doha), Emrehan Mermer (Istanbul) and Rim Dagher (Dubai). White & Case was assisted by Sarkis Law Firm in Syria.
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Read the orginal article: https://www.whitecase.com/news/press-release/white-case-advises-landmark-us7-billion-investment-power-syrias-energy
