Alexander Malahias

Partner, Abu Dhabi, London

Biography

Overview

Alexander Malahias is a partner in the Project Development and Finance practice based in the Firm's Abu Dhabi and London offices. He has wide-ranging experience in advising government entities, sponsors, commercial banks, international financial institutions, export credit agencies and developers in relation to project finance transactions, including refinancings. He has advised on many first-of-their-kind and award winning transactions within the Middle East region.

Alexander works across a variety of sectors, including tourism, real estate and large-scale development(s); petrochemicals and oil & gas; power (conventional and renewable) and water, and infrastructure projects. Alexander is also a core member of the Firm's Energy Transition Focus Group.

Bars and Courts
England and Wales
Education
LPC
BPP Law School
London
LLM (Hons) (Law)
London School of Economics
LLB (Hons) (Law)
University of Kent
Languages
Arabic
English
French
German
Greek

Experience

Vision 2030 – Giga Cities

  • Representation of Red Sea Global, a wholly-owned subsidiary of the Public Investment Fund of Saudi Arabia (PIF), on the financing of Phase One of The Red Sea Project. This deal was recognised as "Project Finance Deal of the Year" by Capital Markets Saudi Arabia Awards 2021.
  • Representation of Red Sea Global, a wholly-owned subsidiary of the Public Investment Fund of Saudi Arabia (PIF), on its joint venture agreement with Almutlaq Real Estate Investment Co., a subsidiary of the Al Mutlaq Group, to develop the Jumeirah The Red Sea, a 159-key luxury resort situated on Shura Island.

Utility Projects

Renewables

  • Representation of Sweihan PV Power Company PJSC, the owner and operator of the Noor Abu Dhabi solar PV plant, in connection with the refinancing in full of the Noor Abu Dhabi project through the issuance of US$700.8 million 3.625% green senior secured green bonds.
  • Representation of Saudi Power Procurement Company in connection with the development of the 1.5 GW Sudair solar project, the largest single-site solar project in the Kingdom of Saudi Arabia. This deal was recognised as "MENA Renewables Deal of the Year" by IJGlobal 2021 and "Structured Finance Deal of the Year" by Capital Markets Saudi Arabia Awards 2021.
  • Representation of Emirates Water & Electricity Company in connection with the PV2 IPP involving the development of a 2GW solar project, the largest single-site solar project in the world, together with a grid station and associated facilities in the Emirate of Abu Dhabi, UAE. This deal was recognised as "Middle East Solar Deal of the Year" by PFI 2020 and "MENA Renewables Deal of the Year" by IJGlobal 2020.
  • Representation of Saudi Power Procurement Company in connection with the development of: (a) the 300 MW Jeddah solar project; (b) the 300 MW Rabigh solar project; (c) the 700 MW Al-Rass solar project; and (d) the 300 MW Saad solar project, in each case located in the Kingdom of Saudi Arabia.

Conventional

  • Representation of Emirates Water & Electricity Company in connection with the development of the US$1.14 billion Fujairah F3 power generation plant having a net capacity of 2400 MW together with a grid station and associated facilities. This deal was recognised as "Middle East Power Deal of the Year" by PFI 2020 and "MENA Power Deal of the Year" by IJGlobal 2020.
  • Representation of Saudi Aramco in connection with the structuring, tendering and development of the 1,509 MW Fadhili independent power project, to be developed jointly by Saudi Aramco and Saudi Electricity Company. This deal was recognised as "MENA Power Deal of the Year" by IJGlobal 2017.

Water

  • Representation of Emirates Water & Electricity Company in connection with the Taweelah RO IWP, involving the development at the Taweelah complex of a 200MIGD reverse osmosis desalination plant. This deal was recognised as "MENA Water Deal of the Year" by IJGlobal 2019 and "Middle East Project Finance Deal of the Year" by IFLR 2020, and has obtained the first-ever 'sustainable loan' qualification for a water desalination project globally.

Petrochemicals and Oil & Gas

Petrochemicals

  • Representation of 9 regional and local lenders in connection with the SAR6.1 billion Islamic project financing of Advanced Polyolefins Industry Company's new petrochemicals complex located in Jubail Industrial City, Kingdom of Saudi Arabia.
  • Representation of the mandated lead arrangers in connection with the SAR2.15 billion Islamic project financing of Farabi Yanbu Petrochemicals Company's new petrochemicals complex located in Yanbu, Kingdom of Saudi Arabia. This deal was recognised as "MENA Petrochemicals Deal of the Year" by IJGlobal 2018.
  • Representation of 6 ECAs and 19 international and regional lenders in connection with the US$6.4 billion project financing of the LIWA Plastics Petrochemical Project in Oman. This deal was recognised as "Middle East and Africa Petrochemical Deal of the Year" by PFI 2016, "MENA Petrochemical Deal of the Year" by IJGlobal 2016 and "Project Finance Deal of the Year" by Bonds, Loans & Sukuk Middle East Awards 2016.
  • Representation of Saudi Aramco in connection with the US$8 billion expansion of the Rabigh Petrochemical Project in the Kingdom of Saudi Arabia. This deal was recognised as "Middle East and Africa Petrochemical Deal of the Year" by PFI 2015.

Oil & Gas

  • Representation of Qatar Petroleum and Shell in connection with the US$6 billion Qatargas 4 LNG project financing in Qatar. This deal was recognised as "Middle East Oil & Gas Deal of the Year" by Project Finance Magazine 2008.
  • Representation of Nord Stream AG in connection with the financing of the US$9 billion Nord Stream gas pipeline through the Baltic Sea. This deal was recognised as "European Gas Deal of the Year" by Project Finance Magazine 2009.

Infrastructure

  • Representation of the Government of the Emirate of Abu Dhabi, acting through the Department of Finance, in connection with a strategic Abu Dhabi Government backed financing relating to a AED 1.99 billion green loan term facility for Etihad Rail Company PJSC for the construction of passenger stations and rail track extensions to connect with the existing Etihad Rail freight line and associated infrastructure.
  • Representation of the lenders in connection with the US$380 million financing of the Paris-Sorbonne University PPP Development Project, and its subsequent refinancing.
  • Representation of the lenders in connection with the US$900 million financing of the Zayed University New Campus Abu Dhabi PPP Development project, and its subsequent refinancing.

Sovereign Debt

  • Representation of the lenders in connection with a US$15 billion revolving credit facility to a GCC sovereign wealth fund.
  • Representation of the lenders in connection with a US$10 billion syndicated bridge facility to a GCC sovereign wealth fund.
  • Representation of the lenders in connection with a US$11 billion syndicated credit facility to a GCC sovereign wealth fund.
  • Representation of the lenders in connection with a US$10 billion syndicated credit facility to a GCC country (acting through its Ministry of Finance).
  • Representation of a GCC country (acting through its Ministry of Finance) in connection with a US$5.5 billion syndicated credit facility.