Press Release

White & Case Advises Senior Lenders in US$1 Billion Negev Energy Thermal Solar Power Project

Global law firm White & Case has advised European Investment Bank, Overseas Private Investment Corporation, Bank Leumi and Bank Hapoalim in the project financing of the $1 billion Negev Energy thermal solar power project.

Located in the Negev desert in Israel, the project will have a capacity of 121MW and is expected to be operational by the first half of 2018.

The financing consisted of approximately US$800 million equivalent of term loans in three currencies, a short-term interest rate hedging facility, and cost overrun and working capital facilities.

The project is sponsored by affiliates of Abengoa S.A. and Shikun & Binui Ltd and is being implemented under a concession program for renewable energy launched by the Israeli government. 

The White & Case team was led by partner Ned Neaher (Washington D.C.) and included associates Anna Andreeva and Brian Schmelkin (Miami), as well as a London-based team consisting of partner Marc Polonsky and associates Laurence Coman and Rian Matthews.

The deal closed on July 16.

Press Contact
For more information please speak to your local media contact.