Our experts advised ENGIE in connection with the AED 2.3 billion (USD $620 million) low carbon Mirfa 2 Reverse Osmosis (M2 RO) desalination project for the development of the low-carbon intensive reverse osmosis desalination plant in the Emirate of Abu Dhabi.
The plant will desalinate seawater to produce up to 120 million imperial gallons per day of potable water and will be the third largest reverse osmosis plant in the UAE. Loyens & Loeff acted as Luxembourg advisers in connection with the financing of the transaction which was primarily funded through debt financing from both local and international banks.
ENGIE is a global leader in low-carbon energy solutions. Abu Dhabi National Energy Company PJSC (TAQA), one of the largest listed integrated utility companies in the Middle East and North Africa region and EWEC (Emirates Water and Electricity Company), a leading company in the integrated coordination of planning, purchasing and supply of water and electricity across the UAE were also involved in the project.