Business Sectors

COVERING A FULL SPECTRUM OF INDUSTRIES

Synergy’s experience in Public Private Partnership (PPP) programs includes Power (IPPs/IWPPs/IWSPPs), Non-Conventional Power (Hydro, Solar, Wind Projects and Biomass) and Conventional Power (Coal, Gas, Oil, etc.), Water, Wastewater, District Cooling, Transport, Real Estate, Telecom, Education and Health Care

Business Sectors

COVERING A FULL SPECTRUM OF INDUSTRIES

Synergy’s experience in Public Private Partnership (PPP) programs includes Power (IPPs/IWPPs/IWSPPs), Non-Conventional Power (Hydro, Solar, Wind Projects and Biomass) and Conventional Power (Coal, Gas, Oil, etc.), Water, Wastewater, District Cooling, Transport, Real Estate, Telecom, Education and Health Care

CCUS (Carbon Capture, Utilization, and Storage)

Carbon capture, utilization, and storage (CCUS) is a process that aims to reduce carbon emissions by capturing carbon dioxide (CO2) from large sources, such as power plants and industrial facilities, and either using it or storing it. The goal is to keep the captured CO2 from entering the atmosphere and contributing to greenhouse gas emissions CCUS is a crucial technology aimed at mitigating greenhouse gas captured, CO2 is compressed and transported via pipelines, ships, rail, or trucks to various utilization or storage sites.

CO2 capture technologies capture emissions directly from industrial processes or power generation plants before they are released into the atmosphere. Different methods include post-combustion capture, pre-combustion capture, and oxy-fuel combustion. The Captured CO2 can be utilized in several ways like, Enhanced Oil Recovery (EOR)- Injecting CO2 into depleted oil reservoirs to enhance oil recovery and store CO2 permanently underground. Or for Industrial Processes where CO2 can be used in chemical manufacturing, production of fuels and chemicals, and even in carbonation of concrete.

The storage of CO2 involves injecting captured CO2 into deep geological formations for long-term storage, preventing it from entering the atmosphere. Suitable storage sites could include Depleted Oil and Gas Reservoirs or Saline Aquifers

CCUS represents a critical pathway towards achieving global climate goals by reducing CO2 emissions from industrial and energy sectors while exploring opportunities for beneficial reuse and long-term storage in geological formations. Continued innovation and investment are essential to overcome technical and economic challenges and realize the full potential of CCUS technologies.

Synergy helps guide through this increasingly complex landscape by assessing the commercial and economic feasibility of CCUS projects, including capture technologies, transportation infrastructure, and storage options. We develop robust financial models to evaluate project economics, including capital expenditures, operational costs, revenue streams (such as carbon credits or revenue from CO2 utilization), and return on investment (ROI) projections. Additionally, we help Clients in raising capital from investors, governments, or financing institutions for CCUS projects. This includes preparing investment pitches, financial presentations, and negotiating terms with potential investors. Structuring project finance arrangements, including debt financing, equity investments, and public-private partnerships (PPPs), to fund CCUS initiatives.

Chemicals/Specialty Chemicals

Specialty chemicals, also known as performance chemicals, play a crucial role in various industries by serving as ingredients in finished products and enhancing manufacturing processes. These chemicals are distinguished by their unique formulations and performance characteristics, which are tailored to meet specific needs and applications. Their development and innovation rely heavily on a deep understanding of their chemical composition and properties, as well as how these attributes contribute to their effectiveness in their intended uses.

Specialty chemicals are often designed for specific applications, which requires precise customization to achieve desired performance outcomes. This includes adjusting molecular structures and functional groups to meet particular needs. The primary value of specialty chemicals lies in their functional properties, such as improving product durability, enhancing aesthetics, providing protection, or enabling specific reactions in manufacturing processes. For example, specialty coatings can provide corrosion resistance, while additives can enhance plastic flexibility. These chemicals are used across a wide range of industries, including pharmaceuticals, agriculture, cosmetics, construction, and electronics. Each industry has unique requirements, and specialty chemicals must meet stringent standards and regulations. Continuous innovation is critical in the specialty chemicals industry. Research and development (R&D) efforts focus on discovering new compounds, improving existing formulations, and finding sustainable and eco-friendly alternatives. Innovations often arise from interdisciplinary collaboration, combining expertise in chemistry, materials science, and engineering.

Synergy offers to its clients, a variety of services to companies in the specialty chemicals sector, helping them navigate complex financial landscapes, optimize their operations, and achieve strategic goals. Strategic Financial Planning, where we assist in creating detailed financial models and forecasts to plan for future growth and investments. We advise our clients on optimal allocation of capital resources to maximize returns on investments in R&D, production facilities, and market expansion and provide due diligence, valuation, and negotiation support for mergers, acquisitions, divestitures, and joint ventures.

Conventional Power

Availability of uninterrupted electricity is critical for the economic development of any region and most countries have undertaken continuous growth in power generation infrastructure to match the projected economic growth. A majority of these power projects globally are fired using fossil fuels like natural gas, fuel oil and coal. Importance of this sector and increasing competition makes this an exciting industry requiring the stakeholders to have a complete understanding of regional precedents as well as global benchmarks to provide comprehensive support on transactions.

Synergy Consulting is a leading financial advisor in the power sector providing financial advisory services across MENA, Sub-Saharan Africa and Asia. With our extensive experience in advising various governments, public and private sector organizations on power sector reforms, we have supported our clients in development, negotiations and finalizations of commercial framework for IPPs and IWPPs.

Project bid advisory, structuring, arranging debt and equity financing, due diligence for mergers and acquisitions of power assets and debt restructuring are the core service areas where we enhance value for our clients. These services are augmented with our team providing our clients market insights through all stages of power project development, supporting them in making critical strategic and commercial decisions resulting in value enhancement for all stakeholders.

Synergy’s strong experience in conventional power sector is marked with a successful track-record of providing seamless service in the financing and development of power projects.

Key Projects:

  • Facility D: 2,520 MW Gas- fired IPP and Water 136 MIGD, Qatar
  • Shuqaiq IWPP: 850MW Oil-fired and 212,000 m3/day desalination, KSA
  • Shuaibah IWPP: 900 MW Oil-fired and 880,000m³/day flash Water Desalination Plant, KSA
  • RAWEC IWSPP Phase II: 160 MW, 910 t/hr steam and 1,970 t/hr water, KSA
  • Tri fuel project: 240 MW IPP, Jordan
  • Azura IPP: 450 MW Combined Cycle Power Plant, Nigeria
  • Kpone Power Project: 340 MW Combined Cycle Gas fired Power Plant, Ghana
  • Kribi Power Plant: 216 MW Gas fired IPP, Cameroon

Data Centers

With the growing demand for fast and secure connectivity, data centers are becoming a part of the main-stream infrastructure. Having uninterrupted service reliance for industry growth, coupled with data protection and localization laws/ requirements, the demand for data centers is growing at an unprecedented pace. While IT companies want control over their servers, they prefer outsourcing the civil and utility infrastructure needs to relevant developers.


Synergy has been at the forefront of advising on data center infrastructure, focusing on optimizing the commercial structure to establish a win-win situation on all fronts. Synergy offers an end-to-end service bouquet covering transaction structuring, debt and equity raising, M&A advisory, strategy advisory for setting up data center platforms, and other financial advisory services.

Key Projects:

  • Financial advisory for a hyperscale data center project, KSA.
  • Strategy advisory for a data center platform, KSA.
  • Debt restructuring for a co-location data center project, KSA.
  • Transaction advisory for a hyperscale data center project, Kuwait.

District Cooling

A district cooling system comprises of a centralized production and distribution system that distributes chilled water from a dedicated cooling plant to multiple buildings for air conditioning and other cooling requirements. In geographies such as MENA where more than 50% of electricity generated is used for cooling requirements, district cooling systems reduce power demand, save power capital expenditure and produce environmental benefits. In district cooling assignments, our dedicated team of experts delivers comprehensive transaction advisory services to a variety of clientele. Our service offerings include bid advisory, project finance advisory as well as M&A advisory.

Our banks and business relationships include:

  • Almost all major district cooling companies in MENA including Tabreed, Emicool, Saudi Tabreed, NTCC and Qatar Cool
  • Close to 50 commercial banks including local MENA based lenders as well as international commercial banks

Synergy is financial advisor to more than 35 district cooling projects with combined capacity exceeding 2.5 MN refrigerated tons (TRs) across major MENA nations including Qatar, Saudi Arabia, UAE and Bahrain. We are also the financial advisor to multiple buy–side and sell–side district cooling asset acquisition transactions in MENA region.

Key Achievements:

  • Financial advisor to 1st district cooling project in MENA – structured on Build, Operate and Transfer (“BOT”) basis.
  • Financial advisor to 1st district cooling project in MENA – financed by 100% non – recourse project specific debt.
  • Financial closure of multiple district cooling projects in MENA which entail raising more than USD 1 BN in long-term debt (including fresh debt for greenfield projects as well as refinancing of existing debt) from commercial banks.

Key Projects:

  • Dhahran District Cooling Project: 27,000 TR district cooling plant in KSA.
  • Jabal Omar District Cooling Project: 55,000 TR district cooling plant in KSA.
  • King Khalid International Airport District Cooling Project: 35,000 TR district cooling plant in KSA.
  • Burj Rafal District Cooling Project: 6,000 TR district cooling plant in KSA.
  • Al Maryah District Cooling Project: 100,000 TR district cooling plant in UAE.
  • Dubai Parks District Cooling Project: 33,000 TR district cooling plant in UAE.
  • Lusail District Cooling Project: 200,000 TR district cooling plant in Qatar.

Education

The education sector has been a key focus area for propelling growth across regions, especially with a focus on increasing the ratio of people having access to schools and universities in their countries. Different PPP frameworks have been implemented across regions in the education sector, and they are gaining focus with the added advantage of bringing in private expertise and funding to help with fast-paced growth.

Synergy has supported multiple developers in structuring their bid packages for transactions spanning cohorts of greenfield schools to be developed. We have been instrumental in availing unique financial propositions from local and international lenders to provide a competitive edge to our clients.

We have provided clients with services such as bid advisory, transaction structuring, financial modeling, commercial due diligence, risk optimization, and raising funds from lenders.

Key Projects:

  • Tatweer Schools PPP Wave I: Financial and bid advisory services for Schools PPP project, KSA.
  • Tatweer Schools PPP Wave II: Financial and bid advisory services for Schools PPP project, KSA.
  • Oman Schools PPP: Financial and bid advisory service for Schools PPP project, Oman.
  • Kuwait educational assets: Financial advisory for debt restructuring/raising for educational assets, Kuwait.
  • Qatar Schools PPP: Financial feasibility study for a Schools PPP package, Qatar.

Energy Storage

Battery Energy Storage (BESS) is essential for the sustainable development of modern energy systems and their integration into the grid. With a growing focus on renewable energy and increased acceptance of Public-Private Partnership (PPP) frameworks, the BESS sector is gaining traction from governments and organizations worldwide. Synergy collaborates with leading local and international entities, providing comprehensive financial and transaction advisory services.

Synergy partners with clients across the entire spectrum of energy storage projects, offering services in transaction advisory, project structuring, project finance, financial analysis, mergers & acquisitions, commercial and financial due diligence, and restructuring.
Our expertise includes designing PPP frameworks, conducting benchmarking studies, performing contractual due diligence, defining scopes of services and risk allocation frameworks, financial modeling, and securing funding from lenders.
We have extensive experience across various models in the energy storage sector. Our clients benefit from our deep relationships with key stakeholders such as lenders, financial institutions, developers, off-takers, and legal and technical advisors, ensuring the successful implementation of their projects.

Key Projects:

  • Ireland ESS: Financial advisory services for 2 x 100 MW/60MWh Portfolio of Battery Energy Storage System (BESS) Projects.
  • BESIPPPP, South Africa: Bid advisory services for BESIPPP Round 1 and Round 2 Programme.
  • Noor Midelt, Morrocco: Bid advisory services for Noor Midelt Phase 1 and Noor Midelt Phase 2.
  • Battery Storage, Lebanon: Procurement advisory for a 200 MW Wind energy and 300 MW Solar PV including battery storage plant.
  • Battery Storage, Jordan: Bid advisory for a 30 MW/60 MWh storage plant in Jordan.
  • Battery Storage, Island of Guam: Bid Advisory for 2 projects with combined capacity of 50MWp solar project by 300MWh of storage in Island of Guam.
  • RAECO IPPs, Oman: Financial advisory services for solar PV –diesel hybrid IPPs at 11 sites to RAECO.

EV’s, Smart Mobility and Charging Infrastructure

The Electric Vehicles (EVs), Smart Mobility, and Charging Infrastructure sector is rapidly evolving and playing a crucial role in the transition towards sustainable transportation. This sector encompasses a broad range of technologies and services aimed at reducing carbon emissions, improving energy efficiency, and enhancing the overall mobility experience.

Smart mobility refers to the integration of advanced technologies and innovative solutions to create efficient, safe, and sustainable transportation systems. It includes connected and autonomous vehicles (CAVs), ride-sharing and car-sharing services, and multimodal transport systems that seamlessly connect different modes of transportation. Smart mobility aims to optimize traffic flow, reduce congestion, and enhance the user experience through real-time data analytics, artificial intelligence, and Internet of Things (IoT) technologies. The EV, smart mobility, and charging infrastructure sector faces several challenges, including high initial costs, limited range, and the need for extensive charging networks. However, these challenges also present opportunities for innovation and growth. Government incentives, technological advancements, and increasing environmental awareness are driving the sector forward, making it a key area for future investment and development.

Synergy helps clients Strategic Financial Planning and Investment Advisory needs, on financing options for large-scale smart mobility infrastructure projects, including public-private partnerships (PPPs) and project finance and assist in identifying and applying for government grants and subsidies available for EV and smart mobility projects.

We provide a range of services to support the development and implementation of an effective policy framework for electric vehicle (EV) charging infrastructure. These services can help governments, regulatory bodies, and private sector stakeholders navigate the financial complexities and optimize the economic outcomes of EV charging infrastructure projects. The main focus areas for Synergy include Policy Analysis and Development, Economic Feasibility Studies, Funding and Financing Strategies and Market Analysis and Strategic Planning.

Green Hydrogen

Green Hydrogen is a clean and renewable source of energy that is expected to play a key role in the global transition to a low-carbon economy. It is produced through the electrolysis of water using renewable energy sources, such as wind and solar power, and does not produce any harmful emissions. The green hydrogen sector is growing rapidly, with various governments and energy companies committing to its adoption as a fuel source.

Green hydrogen has several applications, including energy storage, transportation, and industrial processes. It can store large amounts of energy for long periods, making it a solution for intermittency issues in renewable energy sources. The shipping, aviation, and heavy industries are some of the sectors where green hydrogen is expected to have a major impact, as it can help decarbonize industries with high carbon emissions.

Financial institutions and investors are recognizing the potential of the green hydrogen sector and are increasing their investment in the industry. The increasing demand for green hydrogen is driving innovation and technological advancements in the sector, making it more cost-competitive and accessible.

Synergy is working on one of the most advanced Green Hydrogen projects in Oman. Synergy has been at the forefront of the Green Hydrogen industry having advised Clients on all the major projects in the GCC region. Synergy has supported clients in undertaking feasibility studies, structuring offtake arrangements, structuring commercial aspects of EPC and O&M agreements, leading the selection of lenders, discussions on financing term sheets, etc.

Key Projects:

  • ACME-Scatec Green Ammonia (Capacity – 300 MT/day), Oman.
  • Bid and Financial Advisory Services for RFP tendered by Hydrom for its Green Ammonia Project, Oman.
  • Feasibility Study for a Green Ammonia Project, Oman.
  • Feasibility Study for a Green Ammonia Project, Australia.
  • Feasibility Study for multiple Green Ammonia Projects in Egypt.
  • Financial Advisory and Transaction Management services to a MENA-based developer in Egypt.
  • Feasibility Study for Green Ammonia Projects, rest of the world.

Healthcare

The healthcare sector is essential for the economic development of every region and its people. With development focus shift towards healthcare and increased acceptance of the PPP framework, the sector is gaining traction from governments and organizations worldwide. Synergy collaborates with leading local and international organizations and provides comprehensive financial and transaction advisory services.

Synergy collaborates with clients across the gamut of healthcare models and provides services in the areas of transaction advisory, project structuring, project finance, financial analysis, mergers & acquisitions, commercial and financial due diligence, and restructuring.

Synergy has provided clients with services like designing of PPP frameworks, benchmarking studies, contractual due diligence, designing of scope of services and risk allocation frameworks, financial modeling, and funding arrangement from lenders. We have worked across various prevalent models in this space ranging from construction of hospitals, specialized labs, medical university, bio-medical clusters etc.

Our clients have benefitted by leveraging on our expertise and relationships with important stakeholders such as lenders and financial institutions, developers, off-takers, legal and technical advisors.

Key Projects:

  • Al Ansar Hospital, KSA: Bid advisory for 244 -bed Al Ansar hospital PPP project in KSA.
  • Oman healthcare: Lender’s due diligence for a hospital and medical institute in Oman.
  • Radiotherapy Centers, Uzbekistan: Bid advisory to a consortium for development and operation of three radiotherapy centers under PPP basis in Uzbekistan.
  • PPP Hospital in Poland: Buy-side advisory for equity purchase in 380-bed PPP hospital worth USD 60 MN in Poland.
  • Malta Hospitals: Financial advisory for acquisition of equity stake in 3 hospitals in Malta.

ICT – Information & Communications Technology

The telecom sector continues to be a key enabler for growth and innovation across multiple technology industries. Faced with ongoing disruption across sectors, the key participants of telecom industry have identified, and are taking advantage of, their pivotal enabling role in a digital society.

Synergy has been closely associated with leading telecom infrastructure operators, infrastructure developers and investment houses for acquisition of approximately 16,000 telecom towers from leading mobile network operators (MNO) in the MENA region. The transaction is the first of its kind in the telecom sector across the MENA region. Synergy had provided a wide range of services to its client including valuation of the tower portfolios, arranging credit approved lender term sheets and discussion and negotiation on project agreements (to be signed between MNO and Tower Co).

Key Projects:

  • Acquisition of Mobily telecom towers in Kingdom of Saudi Arabia
  • Acquisition of Zain telecom towers in Kingdom of Saudi Arabia

LED Street Lighting

Focus on emission controls and the ever-increasing demand for utilities have led countries to optimize the use of their critical resources by exploring new technology advancements. LED smart street lighting is one such area wherein the HID luminaries are being actively replaced by LED luminaries, along with addition of smart systems for ease in control and maintenance of such lights.

Synergy has been instrumental in advising public entities for assessing project feasibility, transaction structuring, market sounding, running tender process and successfully closing the transactions. Synergy has also been advising developers for bid advisory, debt raising, commercial and contractual structuring and other financial advisory services.

Key Projects:

  • Abu Dhabi LED Street Lighting PPP Phase 1: Procurement advisory support for ~43,000 LED street lighting project in Abu Dhabi, UAE.
  • Abu Dhabi LED Street Lighting PPP Phase 2: Business case preparation for ~135,000 LED street lighting project in Abu Dhabi, UAE.

Metals & Mining

Mining is the complex process of extracting valuable minerals and resources from the Earth, ranging from essential commodities like coal and metals to industrial minerals such as limestone, clay, and gravel. The viability of mining operations hinges on economic factors that encompass labor costs, investment in mining equipment and technology, energy consumption for operation, refining processes, and efficient transportation logistics.

The mining industry encompasses a comprehensive lifecycle approach, beginning with prospecting and exploration to identify viable mineral deposits. Once identified, extensive planning and regulatory approvals are required before mining activities can commence. This phase involves securing permits, conducting environmental impact assessments, and developing comprehensive mine plans that adhere to stringent regulatory frameworks.

Extraction methods vary depending on the geological characteristics of the deposit. Surface mining techniques, such as open-pit and strip mining, are employed for shallow deposits, while underground mining methods are utilized for deeper ore bodies. These operations involve significant capital investments in infrastructure, machinery, and skilled labor.

Once minerals are extracted from the ground, they undergo processing and mineral dressing to refine the raw material into a marketable product. This stage involves crushing, grinding, and separating ore minerals from waste materials to produce concentrates or refined metals suitable for industrial use.

Environmental and social considerations have become paramount in the mining industry, driven by regulatory changes and stakeholder expectations. Companies are increasingly tasked with minimizing environmental impact, managing water resources, reducing greenhouse gas emissions, and addressing community concerns through sustainable practices and responsible mining initiatives.

Synergy specializes in supporting mining and exploration companies throughout this lifecycle. Our professionals bring expertise in optimizing operational efficiency, integrating advanced digital tools and technologies, and managing complex asset portfolios. We assist in navigating regulatory landscapes, mitigating geopolitical risks, and developing strategies to address climate change impacts and achieve decarbonization goals. We work with clients to implement strategies to streamline operations and reduce operational costs, evaluate geopolitical, regulatory, and environmental risks to develop robust risk management strategies.

In a rapidly evolving global landscape, Synergy works closely with mining industry leaders to navigate challenges, seize opportunities, and achieve long-term success while upholding the highest standards of environmental stewardship and social responsibility.

Oil and Gas

Oil and Gas sector comprises of many sub-sectors with unique features and unique participants in these sub-sectors. The primary sub-sectors, currently under Synergy focus include upstream gas field developments, Gas-to-Power integrated projects, LNG re-gasification terminals, mid-stream oil/gas processing units.

Synergy with experience in largescale infrastructure projects, provides unique perspective to the developers, lenders and public sector offtakers of Oil and Gas projects. As one of the leading advisors in the power sector, Synergy is able to seamlessly dovetail risk-reward structures between the upstream/midstream projects and downstream projects. Our experts have a long track record of working in the oil and gas sector, with strong relationships with various stakeholders – banks, developers, off-takers, other advisors, etc. Because of our longstanding presence in the target markets, we have in-depth understanding of our client’s requirements and an ability to provide optimal solutions.

We provide innovative financial and structural solutions to ensure a bankable project structure along with the commercial viability of the project. We specialize in providing advisory services for upstream gas field developments, LNG regasification terminals and projects in emerging economies.

We have acted as advisors to public sector offtakers for indigenous gas field developments, LNG re-gas terminals and Gas-to-Power projects. We have also supported private sector developers for upstream gas field developments.

Key Projects:

  • Transaction Advisor to GNPC (Ghana) for the OCTP gas field development.
  • Transaction Advisor to a government off-taker in West Africa for a 500 mmscfd FSRU based, LNG re-gasification terminal.
  • Financial Advisor to Tullow for the development/financing of gas field in Mauritania.

Petrochemicals

Rapidly growing global demand for basic chemicals and their products coupled with easy access to hydrocarbon feedstock has driven a massive global readjustment in the chemicals and petrochemicals industry. Large-scale production facilities have shot up in the Middle East and Africa. Keeping this in perspective, Synergy has also expanded its advisory services in Petrochemical Industry.

Synergy has advised clients on some of the leading transactions in this sector in carrying out feasibility analysis, reviewing the contractual framework from a commercial perspective, preparing financial models, analyzing impact of various technical and commercial parameters on project cash-flows, arranging long term financing, negotiating financing term sheet, assisting in selection of lenders, and supporting the client through financial closing.

Synergy was the financial advisor for ACWA Holding and Air Products on the USD 2,125 MN Jazan Air Separation Unit Developed as part of the Jazan Refinery in the Kingdom of Saudi Arabia. Financial close was achieved in June 2015 and upon completion the unit will supply 75,000 tons of gas per day (20,000 tons of oxygen and 55,000 tons of nitrogen) for 20 years to the refinery.

Power Transmission

Power transmission involves the high-voltage transfer of electrical energy from generating stations to substations near populated areas. After electricity is generated at a relatively low voltage, step-up transformers increase its voltage for efficient long-distance transmission, minimizing energy loss. The electricity travels through transmission lines, often spanning hundreds of miles, supported by towers. At the receiving end, step-down transformers decrease the voltage to safer, usable levels for distribution to homes and businesses. This system ensures that electrical power is delivered reliably and efficiently across vast distances.

Key Projects:

  • Project Lightning: Bid advisory for ADNOC’s HVDC sub-sea transmission cable project in UAE.
  • Project Neptune: Buy-side M&A advisory for the acquisition of a partial stake in HVDC electricity interconnector between UK and Germany.
  • Project Beta: Buy-side M&A advisory for the acquisition of partial stake in 5 transmission assets in Brazil from EDP.

Real Estate

Real estate sector has globally proven to be an enabler for buoyant economic activity, and plays an important role in providing necessary infrastructure required for any business. It also represents an attractive asset class for both equity and the debt investors alike. The sector being cyclical in nature, presents a requirement for funds during periods of boom for funding new projects as well as during recession for supporting distressed projects. It has a strong correlation to macroeconomic conditions; being a driver for asset appreciation in growth period and depreciation during challenging economic conditions.

Synergy works with its real estate clients to offer suitable transaction advisory services based on developer needs. Besides advising private developers, Synergy supports public sector clients looking to launch public-private partnerships and private developers looking to bid for such projects.

Key services offered to Synergy’s real estate and construction clients:

  • Debt restructuring and re-profiling (corporate debt restructuring or project financing) for real estate projects/ companies
  • Financial modeling/feasibility studies/ business plans for projects at different stages of their life-cycle: start-up, growth, or financially distressed projects
  • M&A advisory (sell-side or buy-side assistance), valuation, transaction support, etc.
  • Fundraising (debt and equity) for various kinds of real estate projects, including hospitality, residential, retail, commercial, industrial projects, etc.
  • Working capital financing for construction projects
  • Assistance in structuring and issuing REITs (as applicable)
  • Bid advisory for PPP projects (housing or other industrial real estate)

Key Projects:

  • Debt restructuring and refinancing (~USD 80 MN) for a mixed-use real estate project in Saudi Arabia – transaction closed in 2016
  • Raising debt for two greenfield use real estate projects in Saudi Arabia (combined value of USD 550 MN)
  • Debt restructuring and refinancing (~USD 75 MN) for a residential real estate project in Saudi Arabia
  • Feasibility analysis to a real estate developer for REITF issuance in Saudi Arabia
  • Bid advisory for Fadhili Bachelor Camp project tendered out by Saudi Aramco
  • Buy-side advisory for acquisition of 50% stake in mixed-use real estate project in Dubai
  • Bid advisory for commercial development (hotels, offices, parking) at Riyadh airport
  • Financial advisory for a joint venture between a real estate developer and a healthcare operator for developing new projects
  • Structuring analysis for development of affordable housing projects under the public-private partnership (PPP) basis
  • Financial risk analysis of a real estate developer, to determine internal KPIs to measure financial health and evaluate need for refinancing

Renewable Power

Renewable energy provides sustainable and clean source of energy for meeting the growing energy demand across the globe. Continuous improvement in technology coupled with steep reduction in generation cost over last few years has attracted the world’s attention towards meeting energy requirements from renewable sources such as solar, wind, geothermal, biomass and small hydro. A renewable energy quota is currently under discussion in various international forums as a potential future policy instrument for clean energy generation, which will enforce that certain fraction of total power generation comes from renewable sources.

Synergy is at the forefront of providing financial advisory services for transactions in renewable power sector, advising clients in renewable power sector across MENA, Sub-Saharan Africa and Asia regions and has played an integral role in the development of over 3 GW of renewable assets across the globe. Synergy has worked on all major solar power projects in MENA region and has complete understanding of regional precedents as well as global benchmarks to provide comprehensive support on transactions.

Synergy has strong relationships with leading international and regional commercial lenders, export credit agencies and development finance institutions that are active in financing renewable projects. This coupled with extensive experience of our team in Renewables Sector provides valuable market insights to our clients. We continuously add value for our client through the development lifecycle of Renewable Power Projects, providing advisory services on tenders, structuring and arranging debt and equity financing.

Synergy successful service track-record for financing and development of Renewable Power Projects has been acknowledged in the industry with MESIA announcing Synergy the winner of ‘Financial Advisor of the Year 2016’ award.

Key Projects:

Solid Waste Management and Waste Recycling

Solid-waste management encompasses several key activities, each of which plays a crucial role in ensuring the efficient and safe disposal of waste. These activities include:

The first step in solid-waste management involves gathering waste materials from residential, commercial, and industrial sources. Effective collection systems are essential to prevent waste accumulation and reduce the risk of health hazards. Once collected, the waste must be transported to processing or disposal sites. Transportation logistics are critical to ensure timely and efficient movement of waste, minimizing the risk of spillage or leakage during transit.

Processing and Treatment involves various methods to reduce the volume and toxicity of waste. Common treatment processes include incineration, composting, and recycling. Incineration can significantly reduce waste volume but must be managed to control emissions. Composting is effective for organic waste, turning it into useful soil amendments. Recycling involves converting waste materials into new products, conserving resources and energy. The final step involves the safe disposal of waste that cannot be recycled or treated. Landfills are the most common disposal method, but they must be carefully managed to prevent leachate and gas emissions. Modern landfills are engineered with liners and leachate collection systems to minimize environmental impact.

The challenges of solid-waste management are multifaceted and require an integrated approach. Technical solutions must be supported by strong administrative frameworks, economic incentives, and public engagement to create sustainable and effective waste management systems. Addressing these challenges is essential to prevent environmental pollution, protect public health, and promote resource conservation and sustainability. Synergy works with clients in the Waste Management & Recycling Sectors on projects which involve extracting useful materials or energy from waste. Waste-to-energy (WtE) plants can convert non-recyclable waste into electricity or heat, contributing to energy sustainability. Effective solid-waste management requires robust regulatory frameworks and policies and these are capital intensive projects. Our experience helps our clients successfully implement these complex projects.

Strategic Water Reservoirs

Strategic water storage is crucial for ensuring the resilience and sustainability of water supply systems in any nation. It supports the fulfillment of various Sustainable Development Goals by providing a robust framework for emergency water demand and peak usage periods. Strategic reservoirs serve dual purposes: meeting emergency water needs across regions and addressing peak demand during critical times, including religious or cultural events. These reservoirs are a key component of national water policies, emphasizing the importance of strategic storage in strengthening sector resilience and ensuring a stable water supply.

To meet the goals set by national strategies and programs, countries often establish targets for emergency water strategic reservoirs, which translate into the required number of storage days. Factors driving strategic storage demand include population growth, economic development& water loss reduction. Strategic reservoirs must be located near urban centers to minimize transmission risks and costs, typically within a 60-kilometer radius of cities. This proximity ensures quick access to water in emergencies and allows for efficient water transport. Identifying and addressing storage gaps in urban areas, especially those with significant demand, is essential for maintaining water security and supporting sustainable development .

We have spearheaded the procurement of strategic water reservoirs on a Public-Private Partnership (PPP) basis, marking a global first in this domain. Our leadership has enabled the development of robust and future-ready water storage systems, significantly bolstering regional (especially in the middle east) water supply stability. Through strong partnerships and advanced financial strategies, we assist our clients in achieving their objectives while maximizing value and minimizing risk. Our dedication to excellence and innovation makes us the premier advisor for strategic water reservoir projects worldwide.

Key Projects:

  • Transaction Advisor to SWPC (Saudi Arabia) for Juranah (in Makkah City) ISWR.
  • Transaction Advisor to SWPC (Saudi Arabia) for Al Ahsa & Eastern province ISWR.
  • Transaction Advisor to SWPC (Saudi Arabia) for North & South Jeddah ISWR.

Transport & Logistics

Transport is a major index as well as a driver of infrastructural development of any economy. With the growing need of transportation across various means, most nations have shortlisted logistic infrastructure as a key area of development.

Synergy works closely with developers in the transport sector to assist them in raising capital and achieve optimized transaction structure. Our expertise in the transport space spans airports and related businesses, roads and railway projects. Our unique selling proposition remains best quality services at highly competitive pricing for our clients. Our relationships at senior levels with debt and equity investors as well as other stakeholders fosters accelerated growth for our clients in all aspects including – arrangement of financing, debt refinancing, equity stake sale or purchase, advisory on bids or negotiations for new projects, business valuation and due diligence.

Project bid advisory, structuring, arranging debt and equity financing, due diligence for Mergers and Acquisitions of transport assets and debt restructuring are our core service areas. Our team has worked for various industries in different geographies. Leveraging on financial advisory experience for large-scale transportation projects, we understand and are equipped to optimize the dynamics to which our clients remain stakeholders.

Key Projects:

  • Debt raising for privatization of Yanbu International Airport in KSA
  • Debt raising for privatization of Qassim International Airport in KSA
  • Debt raising for privatization of Hail International Airport in KSA
  • Bid advisory for privatization of Taif International Airport in KSA
  • Financial advisory for privatization of Saudia Aerospace Engineering Industries (SAEI)
  • Financial advisory for privatization of Saudi Airlines Cargo Company (SACC)
  • Post-acquisition due diligence for Saudia Aerospace Engineering Industries (SAEI) the technical arm of Saudi Arabian Airlines’ maintenance, repair and overhaul business
  • Financial advisory services for the Saudi Landbridge project
  • Financial advisory for business valuation of a transport business operating in the Gulf Cooperation Council
  • Financial advisory for acquisition of 50% stake in dry port project in KSA
  • Financial advisory for corporate debt refinancing for an MRO business in KSA
  • Corporate financial modeling for expansion at SACC facilities in KSA (Riyadh, Jeddah, Madinah and Dammam)
  • Business plan for development of a cargo village at an international airport in KSA
  • Impairment testing of investment made in an air cargo business in KSA
  • Impairment testing of investment made in an MRO business in KSA

Water & Waste-Water

The Middle East and North Africa (MENA) region is one of the most water-scarce regions of the world. The rapid economic and population growth in the MENA in recent decades has significantly increased the demand for water. Governments in the region have allocated large amounts of funds for water projects. Due to the high levels of investment required for such projects, governments increasingly look for participation from private sector as well. Private participation also mobilizes private sector technological expertise and managerial skills in the public interest.

Synergy services in water sector include assisting clients in formulating financing strategy, negotiating with lenders, analyzing contract design, preparing and auditing financial models.

Synergy experience for water projects spans working on more than 500 MIGD of Independent Water Projects in several countries in Africa and the Middle East.

Key Projects:

  • RAF A3 IWP
  • Barka-Sohar IWP
  • Asutsuare Water Project
  • Al Khafji, Desalination and Solar Plant
  • Suweimeh WTP
  • Umm Al Hayman WWTP

Water Transmission

Water transmission systems are essential for ensuring a reliable and efficient water supply system by balancing regional supply, providing redundancy, and managing future demand. They enable strategic resource allocation, maintain high water quality and offer economic efficiency by reducing the need for multiple small-scale projects. Additionally, these pipelines help preserve local water bodies and promote sustainable water use, making them vital for the resilience and sustainability of any nation’s water infrastructure.

As a leading financial advisor in the water transmission sector, we have a proven track record of pioneering projects that set new standards in the industry. Our expertise is showcased through our work on numerous groundbreaking initiatives, particularly in the Middle East, where we have successfully navigated the complexities of the region’s unique water needs. Our deep understanding of the financial, legal (risk allocation) and regulatory landscapes allows us to deliver tailored solutions that drive efficiency and sustainability.

We are innovators in procuring water transmission projects on a Public-Private Partnership (PPP) basis, a model that leverages the strengths of both the public and private sectors. Our leadership in this domain has facilitated the development of resilient and future-proof water supply systems, enhancing regional (especially in the middle east) water security. Our role in these projects goes beyond traditional advisory services, we help our clients achieve their goals while maximizing value and minimizing risk. Our commitment to excellence and innovation positions us as the go-to advisor for water transmission projects.

Key Projects:

  • Transaction Advisor to SWPC & WTTCO (Saudi Arabia) for Ras Muhaisen IWTP.
  • Transaction Advisor to SWPC (Saudi Arabia) for Rayis Rabigh IWTP.
  • Transaction Advisor to SWPC (Saudi Arabia) for Jubail Burayadah IWTP.
  • Transaction Advisor to SWPC (Saudi Arabia) for Riyadh Qassim WTP.

Key Achievements:

  • Rayis Rabigh IWTP achieved financial close in 2023.