White & Case LLP has advised the Ministry of Energy of the Republic of Azerbaijan on the deal, while Shearman & Sterling advised Abu Dhabi Future Energy Company.
The 230-megawatt utility-scale solar photovoltaic (PV) project will be developed by Masdar.
The 230MW solar PV project will be located nine kilometres northwest of the Alat settlement situated close to the southwest area of the capital city Baku, and will be financed, developed and operated by Masdar. It is expected to start commercial operations in early 2023. Once online, it will help to generate half a billion kilowatt-hours of electricity annually, enough to meet the needs of more than 110,000 homes, and will reduce emissions by 200,000 tons a year.
The White & Case team in London which advised on the transaction was led by partners Mukund Dhar (Picture) and Kamilla Azamat and included associates Alex Field and Bruna Beloso. Omni Law Firm partners Roman Alloyarov, Afag Abdullayeva and Ismail Zargarli and associate Nigar Alimardanli advised on Azerbaijan law matters.
Shearman & Sterling advised Abu Dhabi Future Energy Company with partner Iain Elder, senior associate Colm Ó hUiginn and associate Frederick Lazell.
Involved fees earner: Afag Abdullayeva – Omni Law Firm; Nigar Alimardanli – Omni Law Firm; Roman Alloyarov – Omni Law Firm; Ismail Zargarli – Omni Law Firm; Iain Elder – Shearman & Sterling; Frederick Lazell – Shearman & Sterling; Colm Ó hUiginn – Shearman & Sterling; Kamilla Azamat – White & Case; Bruna Beloso – White & Case; Mukund Dhar – White & Case; Alex Field – White & Case;