Advising on first Qatari IPP/IWPP to be arranged and led by Qatari banks

27 Jan 2014

International law firm Simmons & Simmons LLP has advised QNB, Barwa Bank, Masraf al Rayan and Qatar Islamic Bank on the US$450m project financing of the Ras Abu Fontas A2 desalination project in Qatar, sponsored by the Qatar Electricity & Water Co (QEWC).

The transaction represents two notable firsts: it is the first project in the power and water sector in Qatar to be arranged and led by Qatari banks, and also the first Gulf Cooperation Council (GCC) region project financing to include a co-hedging structure comprising pari passu Islamic commodity-based profit rate swaps in place alongside conventional interest rate swaps.

The Simmons & Simmons team was led by Project Development and Finance partner Adam Cooper and included partners Andrew Wingfield, Allan Yip and Julian Nichol, together with associates Kamal Hafez, Tariq Hameed, Simon Kenolty, Richard Kramer, Sveva Sfara, and supported by trainees James Fox, Ade Mosuro and Adam Waite.

- Ends -

Notes to editors:

  1. We are a leading international law firm with fully integrated teams working through offices in Europe, the Middle East and Asia, and bring experienced professionals to some of the most active growth markets today. Our focus on a small number of sectors means we are able to understand and respond to our clients’ needs. Our industry sectors are: Asset Management & Investment Funds, Energy & Infrastructure, Financial Institutions, Life Sciences and Telecoms, Media & Technology (TMT). We have a track record for innovation and delivering value to clients through new ways of working.

  2. Simmons & Simmons is an international legal practice carried on by Simmons & Simmons LLP and its affiliated practices. Accordingly, references to Simmons & Simmons mean Simmons & Simmons LLP and the other partnerships and other entities or practices authorised to use the name “Simmons & Simmons” or one or more of those practices as the context requires. The word “partner” refers to a member of Simmons & Simmons LLP or an employee or consultant with equivalent standing and qualifications or to an individual with equivalent status in one of Simmons & Simmons LLP’s affiliated practices. For further information on the international entities and practices, refer to

  3. Visit our website at or our award-winning online legal service at

  4. For further information, please contact Daniela Conte, Senior Communications & PR Manager on +44 207 825 4411 or +44 7726 775 707 or at