White & Case has advised a consortium led by UCC Holding, together with Kalyon G.I.S. Energy, Cengiz Energy, and Power International, on the USD 7 billion investment and power purchase agreements with the Ministry of Energy of the Syrian Arab Republic and the Public Establishment for Transmission and Distribution of Electricity. Sarkis reportedly advised the consortium as well.
According to White & Case, the agreements cover eight new power plant projects across Syria with a combined generation capacity of five gigawatts. The signing marks the first major international integrated PPP in the Syrian energy sector, representing a milestone in the country’s energy rehabilitation and modernization program. The projects include four high-efficiency gas-fired combined-cycle plants: North Aleppo, Deir Azzour, Zayzoun, and Mehradeh, and four solar PV plants located in Wedian Al-Rabee, Deir Azzour, Aleppo, and Homs.
The White & Case team included Istanbul-based Partners Ates Turnaoglu, Emre Ozsar, and Sebastian Buss and Associate Emrehan Mermer, as well as further lawyers in London, Doha, Cairo, Johannesburg, and Dubai.
White & Case could not provide additional information on the matter.
