Clifford Chance advises China Three Gorges on financing for acquisition of wind and solar power projects in Egypt and Jordan

Leading international law firm Clifford Chance has advised China Three Gorges South Asia Investment (CSAIL), a subsidiary of China Three Gorges Corporation (CTG), on the financing for a CSAIL-led consortium’s acquisition of Dubai-based wind and solar developer Alcazar Energy Partners (AEP) from a group of funds linked to Abu Dhabi’s Mubadala Investment Co., Dubai-based BluStone Management Ltd. and the World Bank’s International Finance Corporation. AEP’s portfolio includes five solar and two wind projects across Jordan and Egypt with a total generation capacity of 411 MW.

CTG is China’s largest clean energy group and through this transaction CTG further expands its global footprint on renewable energy to the Middle East and North Africa region.

Commenting on the transaction partner Vicky Ma said, “CTG has been dedicated to renewable energy. Its recent investments echo the green Belt and Road Initiative and China’s pledge on carbon neutrality. Following CTG’s acquisition of a solar plant portfolio in Spain earlier this year, we are much delighted to assist CTG on this landmark transaction for them to achieve its corporate vision.”

Vicky led a cross border team consisting of legal assistant Lei Zhong (Hong Kong), senior advisor Yi Wang (Luxembourg), senior associate Chengcheng Wu (Beijing) and trainee Harry Zhang (Beijing).