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Lamyaa Gadelhak

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Lamyaa Gadelhak is a partner at Helmy, Hamza & Partners, Baker McKenzie Cairo, where she co-heads the Banking & Projects Practice Group. She has over 15 years of experience working on the entire spectrum of banking and finance as well as on major projects development including in the field of energy, mining, infrastructure, and in environmental markets and climate change. Lamyaa has been at the forefront of Baker McKenzie's efforts in expanding the Firm's expertise in other jurisdictions, including in Africa. She is currently a member of the Firm's Africa Initiative Steering Committee and of the Global Project Finance Steering Committee. She was also a member of the Firm's EMEA Banking & Finance Steering Committee and EMEA Financial Institutions Working Group. She is a member of the Institute for Energy Law of the Center for American and International Law and the Egyptian Bar Association. Lamyaa has contributed to various publications, offering insights on renewable energy, banking and finance, emissions trading, climate change, and carbon capture and storage. She also regularly speaks and sits at panels on renewable energy and climate change at industry conferences. Chambers Global, Legal 500 and IFLR have all ranked Lamyaa as a leading lawyer and recognized her various contributions and distinguished work in the field.

Almost half of the population of Africa does not have access to electricity. It is, therefore, critical for the continent to increase its access to a clean, decarbonized, decentralized energy supply.
To enable this energy transition, countries across the continent are implementing policies that take into account the energy crisis. Alongside other jurisdictions, they are also launching initiatives and providing funding, investments and grants for African renewable energy projects.

A recent Prime Ministerial Decree No. 4664 of 2022 was published on 25 December 2022, incorporating new provisions to the executive regulations of the Capital Markets Law No. 95 of 1992. The Decree provides for the establishment of a voluntary carbon market platform within the Egyptian Stock Exchange for the trading of carbon emissions reduction certificates (CERs). The CERs are tradeable financial instruments for greenhouse gases and are to be issued in favor of entities establishing projects reducing greenhouse gas emissions after obtaining the approval of the relevant authorities which are not currently specified. Each CER unit shall represent the equivalent of one metric ton of carbon dioxide reduced.

The government of Egypt has now expressly recognized the production, storage and export of green hydrogen and green ammonia among the areas falling within the state’s economic development strategy. It has also passed a decree that would allow green hydrogen and green ammonia projects to benefit from a wide range of state support under the country’s existing Investment Law No. 72 of 2017, including tax incentives. This is a key development for Egypt’s hydrogen economy.

Given current energy transition needs and a reshaping of policy going forward, financing is a key to achieving investment milestones and project development goals. Join us for this 60 minute discussion where Baker McKenzie energy and financing practitioners will discuss the options, trends and considerations to help bring clarity as project sponsors, lenders and investors move forward with their energy transition strategy.