0

K&P Awarded “National Firm of the Year”

For the past several years, Khalifeh & Partners has been ranked ‘Tier 1’ by all major legal directories, including Chambers & Partners, IFLR 1000, and The Legal 500. Recently, Khalifeh & Partners achieved the ranking of National Law Firm of the year (Jordan) on October 17th during IFLR 1000’s 2018 Middle East Awards. The event took place at the Burj Al Arab in Dubai and celebrated the most innovative legal work over the past 12 months across six categories, as well as the  teams behind it.

 

K&P was recognized for the firm’s leading roles on numerous financing transactions, including a number of high-value projects such as the USD $1.4 billion Attarat Um Ghudran Oil Shale Fired Power Plant, in addition to several M&A transactions including Pepsico’s sale of 52% shares to CIB Investments SPC Limited, and ADP’s acquisition of shares in Airport International Group (AIG). The firm was also recognized for its pioneering work in other sectors, including Jordan’s sports and entertainment law through its submission of several successful appeals to the Asian Football Confederation (AFC) and the Federacion Internationale de Football Association (FIFA).  Finally, K&P also advised the Energy Charter Secretariat on the barriers and risks related to foreign investment in the energy sector in Jordan.  K&P’s role is anticipated to support Jordan as it moves to sign the Energy Charter Treaty, the only legally-binding international treaty that establishes a multilateral framework for cross-border cooperation in the energy industry.

 

“We are honored to be the recipient of such an award”, says Managing Partner Ala’ Khalifeh. “Khalifeh & Partners always strives to provide the most comprehensive and efficient advice to our clients, and our lawyers receive cross-sector training and experience so that they are able to think critically and innovatively about every transaction. This award speaks to the dedication and diligence of our team, and I couldn’t be more proud.” Gratitude to K&P’s clients was expressed by Khaldoun Nazer, who says “the trust of K&P’s longstanding clients has led us to the top of the legal market in Jordan. We will continue to provide our clients with the excellent services they deserve as we strive to understand their business needs and provide them with tailored legal advice.” Iyad Hamarneh, Partner and head of litigation at K&P offers further explanation and praise, saying “In every corporation, there are several factors that provide a foundation for success. We at Khalifeh & Partners are blessed and proud to have a dedicated and hardworking team who spare no effort and work closely together to establish and maintain the firm’s excellent reputation. Without this team, we could not have won this award.  For each one of you, thank you very much for this achievement. ”

 

K&P would like to thank its clients and partners both in Jordan and abroad for their cooperation and hard work during the past year, and would also like to congratulate all of the winners.

 

0

K&P Hosts Working Group with Delegates from the Energy Charter Secretariat

On 21 June 2018, a team from Khalifeh & Partners including Ala’ Khalifeh, Khaldoun Nazer, and Siwar Saket met with representatives from the Energy Charter Secretariat during the Secretariat’s working visit to Jordan to discuss barriers and risks to investment in the energy sector in Jordan. Earlier this year, K&P was contacted by the Secretariat to provide advice and information about the energy sector in Jordan for its flagship publication, the Energy Investment Risk Assessment (“EIRA”), which will assess specific policy, regulatory, and legal risks in the energy sectors of various countries, including Jordan.

Though Jordan has not yet signed the Energy Charter Treaty (”ECT”), it is an observer to the Energy Charter Conference, having signed the International Energy Charter political declaration at a ministerial level summit in The Hague, the Netherlands, in May 2015. It has also signed the European Energy Charter Declaration of 1991 and has completed the relevant technical procedures in order to accede to the ECT.

The Secretariat believes that the ECT will enhance confidence in the investment climate in the energy sector in Jordan and attract foreign investments for infrastructure projects in this field, in addition to strengthening the Kingdom’s position as a transit country for energy projects, where transit across its borders is secure and stable and facilitating technical assistance, especially oil and gas pipelines and electricity interconnection projects.

Currently, the ECT is being reviewed by the Jordanian Parliament. It is expected that the Kingdom will move to ratify the ECT in the near future.

0

First Power Storage Project in Jordan Reaches Financial Close

The Badiya Power Generation Project has reached financial close after signing the restated Power Purchase Agreement (PPA) between Irbid District Electricity Company (IDECO) and Al Badiya Company, a subsidiary of Philadelphia Solar. Al Badiya Company will implement an 11 MW expansion of its existing 10 MW PV solar project. Upon completion, the plant will be one of the largest in the region.

Khalifeh & Partners, led by partner Khaldoun Nazer and associate Dina Issa, represented IDECO during the drafting, negotiation and signing of the offtake agreement. The expansion project is anticipated to generate approximately 11 MW of electricity per year at a cost of $12 million U.S. Dollars, and necessitates the installation of an additional 34,350 polycrystalline 320Wp PV panels, along with single-axis tracking and 12MWh of lithium-on battery-based energy storage. Commercial operations are expected to commence during Q4 of 2018.