GLA & Company is proud to announce that it has served as Kuwait counsel for ACWA Power in its recent $693 million transaction to acquire ENGIE assets in Kuwait and Bahrain. This significant transaction marks ACWA Power’s first foray into the Kuwaiti market and reinforces its position in Bahrain, enhancing its capabilities in the Gulf utilities sector.

As the leading regional Arab Civil Law firm, GLA & Company operates across multiple jurisdictions, including Kuwait, Bahrain, Qatar, Saudi Arabia, the UAE, and Egypt. GLA is dedicated to providing exceptional legal services and facilitating strategic transactions that drive regional growth.

Nader Al Awadhi, Senior Partner at GLA & Company, commented, “This landmark deal underscores our firm’s strength in the local GCC markets. Our combined international expertise and deep understanding of local regulations empower us to support our clients effectively in their strategic ambitions.”

Alex Saleh, Managing Partner, added, “We are thrilled to play a pivotal role in ACWA Power’s expansion into Kuwait. This acquisition not only demonstrates our commitment to excellence but also highlights our capability to navigate complex legal landscapes in the region.”

The acquisition encompasses 4.61 GW of power generation and 1.11 million cubic meters per day of water desalination capacity across four projects, positioning ACWA Power as a key player in the growing demand for sustainable utility solutions in the Gulf region. The deal is expected to finalize following standard approvals from stakeholders and authorities, further solidifying ACWA Power’s role in the energy sector.

The GLA team for this significant transaction was led by Partner Rana El Nahal and  Legal Director Suzanne Hashem supported by Associates Habiba Wahdan, Jehan Saleh and Khaled Al Khashab. The regulatory team is being led by Head of Anti-Trust & Competition Asad Ahmad with assistance from Associates Khaled Al Makhezeem and Liana Rashid.

About ACWA Power: ACWA Power is a global leader in integrated utility solutions, delivering power and desalinated water through its portfolio of assets across the Middle East, North Africa, and beyond. The company has a strong track record in providing clean, reliable, and affordable energy, shaping the future of the utilities sector in the region.

About the Az Zour North One Project: The Az Zour North One project is one of the largest gas-fired power generation and water desalination plants in Kuwait, providing essential infrastructure for the country’s growing demand for energy and potable water. The project plays a critical role in supporting Kuwait’s development and economic growth, with its highly efficient operations and significant capacity in both power generation and water desalination.

For further information on the deal, please see here.