Warsan Waste-to-Energy Project Wins PFI Deal of the Year Award

On 28 January 2022, the Warsan Waste-to-Energy (WtE) project was awarded the Project Finance International (PFI) Deal of the Year for the Middle East & Africa region. The award recognises the project's innovative approach to waste management and energy production.

The Warsan project, procured by Dubai Municipality, represents the Municipality’s first large-scale public-private partnership (PPP). Tribe Infrastructure Group served as the sole financial adviser and lead transaction adviser to Dubai Municipality throughout the project's three-year development period, concluding with financial close in June 2021. Tribe’s role included managing procurement processes and negotiating key project agreements.

The USD 1.2 billion facility is the largest single-phase Waste-to-Energy plant in the world.

Upon completion, it will have the capacity to process approximately 1.9 million tonnes of municipal waste per year, generating 200 MW of electricity. The project forms a significant part of Dubai’s Clean Energy Strategy 2050, which aims to produce 75% of the city’s total power from sustainable sources by 2050, significantly reducing its carbon emissions.

James Cook, Tribe’s Head of Advisory, commented on the award, highlighting the collaborative efforts of Dubai Municipality, project partners, and advisers in successfully delivering the complex and landmark transaction.

The PFI Awards are held annually to recognise excellence and innovation in infrastructure finance, particularly in public-private partnership initiatives.