Richard Keenan is a Dubai-based partner at Chadbourne & Parke, an international law firm. Richard has extensive experience advising both developers and lenders in connection with the financing of power projects in the Middle East and Africa.
Richard advised BNP Paribas, GIB and Samba (as the Mandated lead Arrangers), KEIC (the official export insurer of Korea) and Riyadh Bank, Al Rahji and National Commercial Bank (as arrangers of the Islamic facility) for the US$2.7 billion financing of the Marafiq Independent Water and Power project in the Kingdom of Saudi Arabia. This transaction was named “Middle East Power (IWPP) Deal of the Year 2007” by Project Finance Magazine. Richard also advised the lenders (agency, commercial bank and Islamic funders) in the US$2.5 billion financing for the Shuaibah Independent Water and Power project in the Kingdom of Saudi Arabia. The deal was named “EMEA Project Finance Deal of the Year” by International Financial Law Review and “EMEA Power Deal of the Year” by both Euromoney’s Project Finance magazine and Project Finance International Yearbook 2006.
These 2 projects set the template for the Saudi IPP programme. Richard has subsequently advised sponsors and lenders in connection with many of the Saudi IPPs mentioned above that followed these ground breaking projects.
Richard’s recent solar PV experience includes advising Adenium Energy Capital on the successful financing of four utility-scale solar PV projects with a total capacity of 50 MW in Jordan. Along with 3 other projects, these projects were awarded the 2015 “Overall Middle East Deal of the Year” and the 2015 “Renewable Energy Deal of the Year” by IJ Global. He is also currently advising a regional developer on the development and financing of a captive 15 megawatt solar PV IPP in Jordan involving Lafarge Holcim as the offtaker and EBRD as lender. Richard also advised developers in relation to their bids to develop and finance Phase II and III of the Sheikh Mohammed bin Rashid Al-Maktoum Solar Park in Dubai.
Richard also recently advised the lenders supporting the ACWA Holding and Air Products consortium in relation to the development and financing of an air separation unit that will be dedicated to the Jazan Refinery Complex in Saudi Arabia. The project was awarded “MENA Petrochemicals Deal of the Year 2015” by IJ Global , “Middle East and Africa Industrial Deal of the Year 2015” by Project Finance International and “Global Finance Deal of the Year: Projects 2016” by The American Lawyer. The financing of this project was 100% Shari’a compliant.
Richard is recognized as a leading lawyer in the area of Projects and Energy by The Legal 500 EMEA 2016 which commended for his “experience and negotiation skills”.