King & Spalding Advisesd On Major Energy Assets Acquisition And Landmark Clean Energy And Aluminium Decarbonisation Agreements In Abu Dhabi
King & Spalding Advisesd on Major Energy Assets Acquisition and Landmark Clean Energy and Aluminium Decarbonisation Agreements in Abu Dhabi
King & Spalding advised Abu Dhabi National Energy Company PJSC (TAQA) and Dubal Holding on the acquisition of Emirates Global Aluminium’s (EGA) Al Taweelah 3.1 GW combined cycle gas-fired plant for USD 1.9 billion (approximately AED 7billion), and Emirates Water and Electricity Company (EWEC) on a series of agreements aimed at the decarbonisation of EGA’s aluminium production and expansion of renewable and clean energy development in Abu Dhabi. The key agreements were signed earlier this week, with closing expected shortly.
The transaction represents a major step towards advancing TAQA and Dubal Holding’s growth objectives, supports EWEC’s strategy to optimize solar power generation in Abu Dhabi, positions EGA at the forefront of the global aluminium industry’s net-zero ambitions, and enhances power generation efficiency across the Emirate of Abu Dhabi.
The King & Spalding team who advised TAQA and Dubal Holding was led by Brendan Hundt, who said that,
“this is a milestone transaction that sets a new benchmark for the energy sector in the Middle East for how major industrial companies can look to decarbonise their operations and, at the same time, it shows how power developers and investors can support those decarbonisation efforts in an economically feasible way.”
The King & Spalding team who advised EWEC was led by Dan Feldman, Global Head of Energy, who added,
“this transaction demonstrates how the energy and industrial sectors can combine expertise to contribute towards achieving climate targets. Our team’s ability to help multiple stakeholders on one of the region’s most sophisticated energy agreements in decades is a testament to strong collaboration and our bench strength.”
Brendan Hundt led the King & Spalding team advising TAQA and Dubal Holding and King & Spalding’s global head of energy Dan Feldman led the firm lineup on the EWEC transaction, which also involved Gregor Page.
The King & Spalding team led by Simon Cowled (Partner), Jesse Pauker (Partner), Mohammed Basama (Senior Associate), Jill Cooper (Senior Associate), Chris Travis (Associate), Suzanne Szczetnikowicz (Counsel), Caio Gabra (Associate), Sam Anastasiou (Associate), Olivia Wynne Thomas (Associate), Sam Muir (Senior Associate), and Saiesh Kamath (Para legal).
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