Mazghouny & Co advises impact investment company Empower New Energy on its first solar power project completed in Egypt

Empower EgyptAlum closing

Empower New Energy‘s first solar power project in Egypt has been commissioned earlier this month and is generating electricity for one of the country’s leading aluminium manufacturers. The 495kWp rooftop solar power plant has been financed by Empower and developed in partnership with Gree Solar.

The project is expected to generate 859,658kWh per year, and contribute to the expansion of deployment of solar energy for industrial end-users. The Government of Egypt had announced a target to increase electricity generated from renewable energy sources to 20% by 2022 and 42% by 2035.

Mazghouny & Co advised Empower New Energy on the due diligence process, the review and drafting of project agreements and all regulatory aspects of the project and its dedicated company.

The team regularly advises on on-grid and off-grid renewable energy projects both utility-scale and of small and medium size, including the licensing requirements and exemptions for developers and contractors. The team also advises on the financing of projects in the renewable energy sector.

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