Clifford Chance with lenders on Abu Dhabi RTC Project
Clifford Chance advised the lenders to Masdar on a round-the-clock (RTC) gigascale solar photovoltaic (PV) and battery energy storage system (BESS) project in Abu Dhabi, financed through a multi-billion dollar project financing package (the RTC Project).
The RTC Project, developed by Abu Dhabi Future Energy Company PJSC – Masdar in partnership with Emirates Water and Electricity Company (EWEC), will deliver up to 1 gigawatt of baseload power every day. The project has a 30-year power purchase agreement with EWEC.
Clifford Chance advised a syndicate of thirteen international and local banks.
The Clifford Chance team
The Clifford Chance team core team comprised partner Richard Parris (Dubai), partner Jeremy Barker (Dubai); senior associate Serena Chang (Abu Dhabi); associate Marya Manna (Dubai) and associate Philippe Mattoo (Dubai) (all project development and finance), together with cross-practice and additional support from partner Inaamul Laher (Abu Dhabi); senior associate Adil Timirzey (Abu Dhabi); hed of structured products for the Middle Eadt Cheuk Yin Cheung; legal consultant islamic financing Shuaib Mirza; trainees Grace Bradshaw (Dubai) and Osama Al Ahmad (Dubai).
