Simmons & Simmons has advised Qatar’s Umm Al Houl Power Company on the financing of a $3 billion independent water and power project (IWPP) in Doha, with Shearman & Sterling advising a consortium of international and local banks as lenders.
The Simmons team, which also counseled project stakeholders Mitsubishi Corp and Tokyo Electric Power Company (TEPCO), was led by Abu Dhabi partner Adrian Nizzola, and comprised of partners Richard Kramer, Simon Ratledge, Andrew Wingfield and Peter Wright.
The lenders -- Japan Bank for International Cooperation, The Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corporation, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, Mizuho Bank, Qatar National Bank, KfW IPEX-Bank and The Norinchukin Bank -- were represented by Shearman & Sterling partners John Inglis, Nick Buckworth, Sanja Udovicic, Patrick Clancy, James Duncan, Alexander Uff and Simon Letherman.
The integrated IWPP, which is expected to generate 2520mw electricity and 136.5mlgd of potable water, is set to come up in the Qatar Economic Zone, south of Doha.
Mitsubishi Corp and TEPCO signed a power and water purchase agreement in May last year with Qatar General Electricity and Water Corporation (KAHRAMAA), which was represented by Eversheds on the deal. Meanwhile, Allen & Overy acted for Qatar Petroleum, which holds a five percent equity in the project.
