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Ashen Jugoo | Project Finance | Energy | Infrastructure

Ashen Jugoo

Partner Fasken
The scale, complexity and risk inherent in infrastructure projects requires innovative approaches to financing and procurement.
Jurisdiction South Africa, 2004
Language(s) English
Office(s) Johannesburg
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Overview

Ashen Jugoo is a leading finance, projects and energy lawyer in South Africa and a partner in the Johannesburg Finance and Projects team. Ashen is named as the “Lawyer of the Year” for Project Finance and Development Practice by Best Lawyers, 2022 edition.

Ashen has extensive experience in project and infrastructure finance, corporate finance and project development and has also advised lenders and sponsors on public-private partnerships. He focuses on projects in the power and energy, mining, transport, telecommunications and information technology areas and advises clients on African, South African and cross-border transactions.

Ashen advises on all aspects of limited recourse financing and corporate finance. He has extensive experience that extends to engineering, procurement and construction and advises on EPC contracts, EPCM agreements, turbine supply contracts, operation and maintenance agreements, technical service agreements, power purchase agreements.

Clients praise Ashen in being “extremely pro-active in that he anticipates and provides solutions in reaction to problems on a transaction for us to consider instead of asking our thoughts on a problem - this is very valuable as most lawyers often want lenders to come up with solutions which they can then advise on”.

Achievements

  • Recognized nationwide in South Africa as top tier (Band 1) in Projects & Energy., Chambers Global 2026
  • Recognized nationwide as a Leading Partner in Projects and Infrastructure. , The Legal 500 Europe Middle East and Africa 2026
  • Recognized nationwide in South Africa as top tier (Band 1) in Projects & Energy., Chambers Global 2025
  • Recognised by Best Lawyers in the field of Energy Law, Best Lawyers 2024 to 2025
  • Recognised by Best Lawyers in the field of Construction Law, Best Lawyers 2023 to 2025
  • Recognised by Best Lawyers in the field of Public Finance Law, Best Lawyers 2021 to 2025
  • Best Lawyers, Best Lawyers 2021 to 2025
  • Recognized nationwide as a Market Leader in the categories of Banking and Finance, Energy and Infrastructure, Project Development, and Project Finance, IFLR 1000 2024 to 2025
  • Recognized by Best Lawyers in Banking and Finance Law, Best Lawyers 2025
  • Recognized in the 2025 edition of Legal 500 Europe, Middle East and Africa (EMEA) in Project and Infrastructure., Legal 500 2025

Experience

  • Enel Green Power reaches financial close on three wind power projects of a combined capacity of 330MW, [Deal - Lenders], Portfolio project financing for the construction, operation and maintenance of 3 wind farms with a combined capacity of 330MW.
  • Fasken advises Lenders on the financial close of two registered 100 MW energy projects, [Deal - Lenders], Fasken advised the Lenders on the financial close of two registered 100 MW SOLA Group energy projects.
  • CPV 1 Touwsrivier solar plant refinancing, [Deal - Lenders], Fasken advised the Lenders in respect of the refinancing of a Concentrated Solar Power project, the CPV 1 Touwsrivier solar plant which was developed pursuant to the Renewable Energy Independent Power Producers Producer Programme (REIPPPP).
  • Advised on the hedging and equity financing for the largest South African concentrated solar power project, Redstone CSP, [Case - ACWA Power], Fasken South Africa’s Project Finance practice group advised on the hedging as well as the equity financing for the largest South African concentrated solar power project, Redstone CSP.
  • SolaFuture – Advising the Lender on a portfolio financing to fund, initially 7 solar photovoltaic facilities to be undertaken by a special purpose vehicle for The South African Breweries Proprietary Limited., [Deal - SOLA Group], SolaFuture – Advising the Lender on a portfolio financing to fund, initially 7 solar photovoltaic facilities to be undertaken by a special purpose vehicle for The South African Breweries Proprietary Limited.
  • Redstone concentrated solar thermal power plant being developed by ACWA Power, [Deal - ACWA Power], Redstone concentrated solar thermal power plant being developed by ACWA Power: Advising the Hedge Providers in relation to the hedging arrangements; Advising an equity provider in relation to the preference share funding to a project company shareholder.
  • Enel, [Deal - Nedbank Limited, ABSA Bank Limited], We advised the Lenders (ABSA Bank and Nedbank) in relation to the portfolio financing of five wind energy projects which will produce approximately 700MW of electricity. The Fasken team advised the Lenders on the structure of the financing and security, and were responsible for the negotiation an...
  • Aggeneys - Advising the Lenders in relation to the development, financing, construction, commissioning and operation of a Solar Plant., [Deal - BioTherm Energy Proprietary Limited], Aggeneys - Advising the Lenders in relation to the development, financing, construction, commissioning and operation of a Solar Plant.
  • Excelsior - Advising the Lenders in relation to the development, financing, construction, commissioning and operation of a Wind Farm., [Deal - BioTherm Energy Proprietary Limited], Excelsior - Advising the Lenders in relation to the development, financing, construction, commissioning and operation of a Wind Farm.

Career & Education

Education

  • LLM University of Witwatersrand
  • Certificate, Competition Law University of Witwatersrand
  • LLB University of Natal, Durban, Republic of South Africa

Community involvement

  • Board Member, Artist Proof Studio
  • Commissioner, Small Claims Court

Memberships & Affiliations

  • Member Legal Practice Council of South Africa

Knowledge

  • Congestion curtailment approved by NERSA – an attempt to free up grid connection capacity for wind energy facilities in the Eastern and Western Cape regions, 7/1/2025
  • Government proposes removing the 100 MW electricity generation licensing threshold from Schedule 2 of the Electricity Regulation Act 4 of 2006, 9/26/2022
  • Energy in Transition: Meeting the Net-Zero Target Challenge, 10/18/2021
  • 100MW Electricity Generation Licence Exemption May Have Finally Been Given The Green Light, 8/13/2021
  • Infrastructure Development Act - Strategic Integrated Projects, 7/24/2020

Events

News

  • Fasken Recognized in The Legal 500 EMEA across Eight Practice Areas, 4/24/2023
  • African Law & Business mentions Fasken team in an article on South African renewable energy deal, 9/29/2022
  • Fasken Advises Lenders on Ground-Breaking 100 MW Renewable Energy Projects, 9/22/2022
  • Fasken Recognized in The Legal 500 EMEA across Nine Practice Areas, 5/11/2022
  • Seventeen Fasken Lawyers Recognized in the 2022 Edition of Best Lawyers in South Africa, 11/11/2021
  • Fasken Recognized in The Legal 500 EMEA across Nine Practice Areas, 4/22/2021
  • Renewable Energy IPP Programme wins PFI Award, 3/1/2019
  • Chambers Global 2018 recognizes 54 Fasken lawyers in 19 practice areas firm-wide, 2/19/2018
  • Forty-Seven Partners and Eleven Practice Areas listed by IFLR 1000 Financial and Corporate 2017, 10/17/2017
  • Fasken Martineau Recognized in the 2017 Edition of The Legal 500 Europe, Middle East and Africa, 4/28/2017

Publications

  • Construction on REIPPP Renewable Energy Projects permitted to resume, 5/18/2020
  • Construction on REIPPP Renewable Energy Projects permitted to resume, 5/18/2020
  • Construction on REIPPP Renewable Energy Projects permitted to resume, 5/18/2020
  • Projects & Energy Special Report: Off-grid energy solutions in Africa, 10/13/2017
  • The Law of Africa - A guide to a better business, 7/10/2017

Speaking Engagements

  • Pathway for a Just Energy Transition in South Africa, 6/14/2022
  • An Introduction to Project Finance and Bankability, 4/11/2022
  • Commercial Structures and Project Bankability, 5/6/2021
  • Enabling renewable energy to transition the SA Mining Sector, 2/1/2021
  • Panel member, ‘Financing and the development of off grid energy solutions’, 6/8/2019
  • Invest Africa: Energy Transitions in Africa, 29 April 2019, 4/29/2019
Speaker Pathway for a Just Energy Transition in South Africa RES4Africa Foundation
Speaker An Introduction to Project Finance and Bankability SANEA Energy Finance Programme
Chair Commercial Structures and Project Bankability Energy and Mines Africa Virtual Summit