Senior Associate Mohamed Nabil joins as a speaker at MESIA’s “Renewable Energy Trade Mission” convened on 28 and 29 April 2015

Mohamed-Nabil-(3)

Senior Associate Mohamed Nabil was on the panel discussing the draft project agreements issued by the government for the Feed-in-Tariff program.

Mohamed commented on some of the key local law aspects in the documentation that need further consideration and amendment, including compliance with the statutory conditions for the validity of the Ministry of Finance Guarantee and the arbitration clause.

Dr. El Sobki noted those comments stating that local law aspects of the agreements will be covered by: (i) procuring comments from qualified consortium’s who should involve their local legal advisers; and (ii) sending the final draft agreements to the State Council for review.

The panel also discussed potential solutions for the convertibility risk with respect to tariff payments and lock-in periods for consortium lead developers.

The panel was moderated by Richard Keenan, Partner – Chadbourne & Parke LLC.

The event hosted 50 international executives and 50 local industry representatives, including; H.E. Mohamed Shaker, Minister of Electricity and Renewable Energy H.E. Hany Kadry Demian, Minister of Finance, H.E. Hassan Fahmi, Chairman, Egyptian General Authority for Investments (GAFI), Dr. Sherif Oteifa, Advisor to Minister of Investment, Dr. Mohamed El Sobki, Executive Chairman, NREA, Dr. Hafez El Salamawy, Managing Director, ERA.

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