Squire Patton Boggs Advises Dubai Municipality on US$1.3 Billion Waste-to-Energy Project

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Squire Patton Boggs has advised Dubai Municipality on the US$1.3 billion waste-to-energy project in the Al Warsan district of Dubai, United Arab Emirates. Financial close was achieved on June 21, 2021.

Squire Patton Boggs’ team, led by partners Shane Wilson and James Duckworth, has been advising Dubai Municipality (as procurer) on all aspects of the Dubai Waste-to-Energy (WtE) project, including structuring, procurement and implementation. The project is procured under the IWPP Law and, once complete, will be one of the world’s largest waste-to-energy plants. It will have a waste treatment capacity of 1.9 million tonnes per year and a power generation capacity of approximately 200 megawatts.

The developer consortium comprises ITOCHU Corporation, Hitachi Zosen, BESIX, Dubai Holding, DUBAL Holding, and Tech Group. The project will be financed by a consortium of banks, including Japan Bank for International Cooperation (JBIC), Crédit Agricole Corporate and Investment Bank, KFW IPEX-Bank GmbH, Mizuho Bank, Ltd, Siemens Bank GmbH, Société Générale, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation. Japanese export credit agency Nippon Export and Investment Insurance (NEXI) has provided loan insurance.

Shane Wilson said, “We are delighted to support Dubai Municipality and the other government of Dubai stakeholders on this landmark project that will establish one of the largest WtE plants in the world, ultimately processing thousands of tonnes of municipal waste every day and significantly reducing the city’s landfill requirements. This project represents a significant step towards Dubai’s objective to reduce landfill requirements and towards achieving a more sustainable means of generating the Emirate’s energy requirements. Our team is also pleased to play its part in a project that demonstrates how a robust legal framework can play an important role in attracting strong foreign direct investment in major infrastructure developments in the region.”

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