Mirfa Independent Power and Water Plant
Mirfa IWPP is a 1,600 MW / 52.5 MIGD seawater desalination plant owned by Engie, ADWEA and Abu Dhabi Financial Group.
The plant supplies power and water services under a 25-year power and water purchase agreement (PWPA), with ADWEA as the single buyer and is one of many IWPP projects contracted to supply power and desalinated water to ADWEA, after Al Taweelah A1, Taweelah B, Shuweihat S1, Suweihat S2, Umm Al Nar and Fujairah F2.
Audrey Caulliez-Louis led the bank group as part of Mizuho’s initial Lead Arranger role for this transaction, one of many IPPs/IWPPs she worked on in the Middle East.
On these transactions, her responsibilities included the following:
– Assisting and coordinating with the preparation of an Information Memorandum, in cooperation with the financial adviser. Pre-agreeing an acceptable structure on behalf of future financial institutions coming into the transaction as lead arrangers.
– Running the bankability study and pre-sounding exercise with the potential lenders to optimise the project financing structure.
– Assisting and coordinating the due diligence efforts to achieve a smooth financial close.
Structure and implement an innovative soft mini-perm financing at a time where long-term liquidity in the market was under pressure and to achieve successful financial close