CMS Portugal advise Sun Africa on US$1.95 billion transaction
CMS Portugal and its Angolan associated law firm LBR Advogados advised Sun Africa, a leading developer of solar projects and off-grid solutions, on a transaction to develop, build and finance numerous solar energy, mini-grid and water purification projects in the Angolan provinces of Namibe, Cunene, Cuando Cubango, Huila, Huambo, Malange and Bengo. The contracts were signed on 20 June, 2022, with a total value of USD 1.995,000,000.00.
To assist Sun Africa, CMS Portugal and LBR relied on a multidisciplinary team led by Alberto Galhardo Simões (partner – CMS Portugal), which included Luís Borba Rodrigues (managing partner – LBR Advogados), Joana Brito Paulo (managing associate – CMS Portugal), Maria Figueiredo (counsel – CMS Portugal), José Maria Lobo da Costa (associate – CMS Portugal), Nadine Pinto de Andrade (associate – LBR Advogados) and Gilberto Firmino Manuel (trainee – LBR Advogados).
For Alberto Galhardo Simões, partner in CMS Portugal’s Lusophone Africa team, “it was an honour to advise on a transaction of such magnitude and importance for Angola and the Angolans, with a real and significant impact on the life and well-being of the local populations and in line with the objectives of the energy transition. This deal also demonstrates the capacity that CMS and LBR have to provide high quality and effective advice to clients in these type of large-scale transactions on the African continent and particularly in Angola.”