Leading UAE law firm Hadef & Partners has advised on the US$3.8 billion transaction between Abu Dhabi National Oil Co., (ADNOC) and Abu Dhabi National Energy Co., (TAQA) for a first of its kind subsea transmission network in the MENA region.
The project, which will seek to power and decarbonise ADNOC's offshore production operations, will be developed jointly by a consortium of Korea Electric Power (KEPCO), Kyushu Electric Power Company (Kyuden) and Électricité de France (EDF ), alongside ADNOC and TAQA.
The construction of this project is expected to start this year, and commercial operation is expected to commence in 2025.
The Hadef team was led by Partner, Alan Rodgers, supported by Partners, Yasser Omar and Catriona McDevitt, with Senior Associate Ajai Ramakrishnan and Associates Howrey Kamal.
Alan Rodgers commented…..“We are delighted to have advised from bid to financial close on this unique power transmission project finance, which is a milestone in the power sector ..”