The USD6.1 billion deal redefining renewable energy at gigascale

“This landmark development and financing demonstrate the confidence of regional and international financiers in the viability of solar-plus-storage as a baseload power solution,” said Joe Clinton, partner at A&O Shearman. “The scale and complexity of this project—combining 5.2GW of solar PV with 19GWh of battery storage to deliver round-the-clock renewable energy—underscores the sophistication of the region’s project finance markets and their ability to support first-of-a-kind structures, even in a challenging regional and global environment.”

The A&O Shearman team was led by partners Joe Clinton and Elliott Sawford, supported by senior associates Thomas Bramah and Farah El Yacoubi, associates David Lekashingo and Gillian O’Rourke, and trainee Karim von Daniken, with senior legal support professional Yifan (Yvonne) Yuan. Civil law support was provided by partner Anthony Traboulsi, counsel Anthony Mrad, and associate Nour Gemayel. Derivatives expertise was led by partner Daniel Smith with senior associate Michel Abi Saab, associate Iman Faruki, and trainee Jamie Samuels. Project management support came from senior legal project manager Joe Ward and legal project executive Alix Morris.