Clifford Chance has advised Asian Development Bank, European Bank for Reconstruction and Development, First Abu Dhabi Bank, International Finance Corporation and Natixis as lenders for a 500 MW Zarafshon wind power project in Uzbekistan. Dutch Entrepreneurial Development Bank (FMO) acted as a parallel lender. Cover to commercial lenders is provided by ECI (Etihad Credit Insurance).
The project is developed by leading renewable energy company, Masdar (Abu Dhabi Future Energy Company).
Lead partner, Milica Zatezalo-Falatar comments: “We are delighted that we’ve been able to contribute to the signing of this landmark project, the largest renewable project in Central Asia to date. It will enable the country to further diversify its energy mix.“
Our team across the Paris, London and Dubai offices included Violaine Lecoq Burgelin, Edward Charlton-Jones, Walter Myer, Elena Prudon, and Manon Guery on the project and financing aspects; Fabien Jacquemard, counsel, and Santiago Ramirez on the hedging aspects; Sandy Hall, partner, and Jonathan Forrest, associate, on the construction aspects; Bruce Kahl, partner, and Struan Murray, senior associate, on the agency aspects; Sohini Kar-Purkayastha, counsel, on the intercreditor aspects; Jeremy Barker, counsel, and Angad Chaturvedi, senior associate, on the ECI aspects.
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