Al Ahly Capital and Zulficar & Partners have formed a partnership to act as legal and financial advisors to the Electricity Ministry on agreements and contracts for the second phase of the feed-in tariff (FiT) program, Al Mal reports. While the ministry had not issued a tender or requested advisors for signing FiT contracts, the consortium presented the offer after spotting a the ministry’s need for it as it moves to sign power purchase agreements, Al Ahly Capital Managing Director Khaled Badawi says. Separately, Al Ahly Capital submitted an offer to Al-Wadi for Phosphate Industries and Fertilizers Company to act as financial advisor on a facility to finance its USD 900 mn phosphoric acid and fertilizers manufacturing project, Badawi adds.

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