Book an appointment with us, or search the directory to find the right lawyer for you directly through the app.
Find out moreThis Edition of Law Update, From Africa to Asia: Legal Narratives of Change and Continuity, takes you on a journey through dynamic markets.
Africa is undergoing a tech-driven transformation, overcoming regulatory challenges while its startup ecosystem thrives. India’s legal framework is evolving rapidly, keeping pace with its expanding economy and diverse business environment.
We also dive into China’s regulatory shifts, particularly how they are shaping investments in the MENA region, and explore Korea’s innovative global partnerships, which are driving advancements in industries across the UAE and beyond.
Read NowAl Tamimi & Company is pleased to announce its role as the advisor to Saudi Power Procurement Company (SPPC) in the development and financial close of the landmark 8.4 GW Qassim and Taiba Combined Cycle Gas Turbine (CCGT) power projects. These projects are set to significantly enhance Saudi Arabia’s energy infrastructure by supplying power to approximately 3.5 million residential units annually.
The Taiba-2 and Qassim-2 CCGT power projects were developed by Aljomaih Energy & Water Company, in collaboration with consortium members Ajlan & Bros Group, Buhur for Investment Company, and the EDF Group. The Taiba-1 and Qassim-1 CCGT power projects were developed by the ACWA Power-Saudi Electricity Company (SEC) consortium.
Al Tamimi & Company advised SPPC, providing comprehensive legal support on all local law matters, including the finalization of project documents, review of required consents and approvals, and completion of financial close for all four projects. The team was led by Aurangzeb Maqsood, Senior Associate at Al Tamimi & Company with support from Faizan Toor, Associate at Al Tamimi & Company.
Rafiq Jaffer, Partner at Al Tamimi & Company, said: “We are proud to have advised SPPC for the first time and on such significant power projects with a combined total capacity of about 8.4GW. This achievement underscores the collaborative efforts of all stakeholders involved. Our team, led by Aurangzeb Maqsood, ensured meticulous compliance with local regulations, contributing to the successful financial close of these projects. The combined value of these projects exceeds USD 7 billion and is a testament to Saudi Arabia’s commitment to diversifying its energy mix and advancing towards the goals of Vision 2030.”
These projects align with Saudi Arabia’s Vision 2030 by enhancing electricity generation efficiency, reducing costs, and displacing liquid fuels in power plants. They are expected to reduce carbon dioxide emissions by up to 278 million tons annually by 2030, in line with the circular carbon economy approach.
Al Tamimi & Company’s Project Finance, and Banking and Finance teams in Saudi Arabia led by Rafiq Jaffer (Partner), have extensive experience advising on major energy projects across the Middle East and North Africa region. The team is recognized for its deep understanding of the local regulatory landscape and its ability to navigate complex legal challenges in the energy sector.
To learn more about our services and get the latest legal insights from across the Middle East and North Africa region, click on the link below.