01 Oct 2015

HADEF & PARTNERS SHORTLISTED FOR PROJECT FINANCE DEAL OF THE YEAR AT THE IFLR MIDDLE EAST AWARDS 2015

Authored by: Hadef & Partners Press Office

HADEF & PARTNERS SHORTLISTED FOR PROJECT FINANCE DEAL OF THE YEAR AT THE IFLR MIDDLE EAST AWARDS 2015

Leading UAE law firm, Hadef & Partners is pleased to announce that it has been shortlisted for Project Finance Deal of the Year, for work performed on the Mirfa IWP, at this year’s IFLR Middle East Awards, having already won the IJ Global Middle East Water Deal of the Year 2015 for the same transaction earlier in the year. The winners will be announced on 28 October 2015 at the annual awards ceremony at the Burj Al Arab Hotel.

On being nominated for this award, Roger Morris, Senior Legal Consultant, Abu Dhabi who led the project said, “We are delighted to receive such recognition for our hard work on this project. The Mirfa IWPP is an entirely different process of desalination that departs from traditional fossil-fuelled power plants because it is electricity powered. It is therefore able to meet demand for water at all times and is at the cusp of the UAE’s sustainability and green initiatives.

The Mirfa IWPP is a significant project that is the first in the Emirate of Abu Dhabi to include a water desalination plant by reverse osmosis in its processes, and is the latest of the ADWEA water and electricity sector privatizations, compromising a 25 year agreement.

The IFLR Middle East Awards are widely recognised as one of the most important awards events in the region recognizing complex and important transactions. The ceremony will be hosted by IFLR at the Burj Al Arab Hotel in Dubai where international and regional banks and law firms gather annually to celebrate the region’s legal and financial achievements.

Improvement in RO technology over recent years has made it viable to meet a water demand cycle rather than a power generation cycle. The completed project will have a power generation capacity of 1,600 MW and 52.5 million gallons per day of water desalination capacity and will be commissioned over 2016 / 2017.