Cairo, Egypt – 20 June 2024 – Shehata & Partners, as one of the few Egyptian law firms with expertise in the country’s renewable energy sector, had a successful collaboration with the United Nations Industrial Development Organization (UNIDO) to develop a series of short-form contract templates for Energy Services Agreements (ESCOs) in Egypt. This initiative, undertaken in conjunction with technical consultants from Kenya and England, aims to streamline the adoption of ESCOs and accelerate the development of a robust ESCO ecosystem within the country.
ESCOs are performance-based agreements whereby an ESCO installs, and maintains energy-saving improvements in a facility or a factory. The ESCO recovers its investment through the resulting energy cost savings achieved by the client. By simplifying the contracting process through standardized templates, this project will reduce transaction costs and encourage wider participation in the ESCO market.
“We are thrilled to have partnered with UNIDO on this important project,” said Ibrahim Shehata, Partner at Shehata & Partners. “The development of clear and concise ESCO contract templates will play a crucial role in fostering the growth of the ESCO market in Egypt. This will ultimately lead to increase energy efficiency, reduce greenhouse gas emissions, and cost savings for businesses and organizations across the country.”
The project involved collaboration between Shehata & Partners, UNIDO, and technical consultants with expertise in ESCO development from Kenya, England, and Egypt.
ABOUT UNIDO
The United Nations Industrial Development Organization (UNIDO) is a specialized agency of the United Nations with a unique mandate to promote, dynamize and accelerate industrial development.
Please contact Ibrahim Shehata (is@shehatalaw.com) for any inquiries regarding this press release.
