Gibson Dunn team advise on USD4 billion Saudi Arabia energy project

Gibson Dunn advised ACWA Power, The Saudi Electricity Company (SEC), and Korea Electric Power Corporation (KEPCO), as the sponsors, in connection with the project financing of each of the Rumah 1 and Nairyah 1 CCGT (combined-cycle gas turbine) independent power projects in the Kingdom of Saudi Arabia, each with a production capacity of 1,800 megawatts.

The two projects represent a total investment of approximately USD4 billion (SR15bn) and form part of the Saudi Energy Ministry’s plans to maximise local power supply in line with the Kingdom’s Vision 2030 program and support its 2060 net-zero targets.

The Gibson Dunn team advising on the project were partners Ben Shorten (London), Laleh Shahabi (Abu Dhabi) and Mahmoud Abdel-Baky (Riyadh), of counsel Elizabeth Wood (Dubai) and Vincent Poilleux (Paris) and associates Charles Case (Abu Dhabi), Tom Capper (London), Emma Lavaysse di Battista (Paris), Hadeel Tayeb (Riyadh) and Souad Aldaker (Riyadh), and trainee Shaikha AlKaabi (Abu Dhabi).