Amarenco Group, the leading solar IPP active in Europe, the Middle East, and Asia-Pacific, and SolarizEgypt, a significant player in the Egyptian solar energy market for the past 8 years, announced on 23 February 2022 the establishment of a new partnership in Egypt. Amarenco will acquire 74% of SolarizEgypt’s portfolio and they will co-develop 300 MW of assets at an estimated budget of USD 255 million over the next 4 years. The parties refer to their Joint Venture as “SolarizEgypt | Amarenco & Co”.
The acquisition and partnership will leverage both companies’ strong knowledge and expertise to provide best-in-class services to the Egyptian energy sector, and represents a milestone for the renewables market in the country.
Mazghouny & Co has advised Amarenco Group in connection with the legal due diligence over SolarizEgypt assets, as well as in the drafting, review, and negotiation of the definitive agreements between the parties, and continues to assist the bigger team as the joint venture becomes operational. Mazghouny & Co team advising on the transaction was led by Donia El-Mazghouny, and included Khadiga Abou-Zeid and Yasmina Moussa.
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