Shearman & Sterling has won “Project Finance Deal of the Year” at the 11th annual Middle East Awards for its work advising the lenders on the $3 billion Facility D Independent Water and Power project in Qatar.
The project involves the construction of a 2,520 MW gas-fired power plant and a 136.5 million gallon-per-day associated desalination plant near the Qatar Economic Zone, south of Doha. Once operational in 2018, it is expected to be one of the largest power and water facilities in the Middle East.
The firm was also nominated for “Equity Deal of the Year” for the IPO of Cleopatra Hospital and was shortlisted in the “Project Finance Team of the Year” category.
John Inglis, partner in the firm’s Project Development & Finance Group, commented, "It is an honor to receive this award, which is a testament to the strength and dedication of our project development & finance team. We are proud to have worked on this project, which is set to be one of the largest power and water facilities in the Middle East."