Global law firms Ashurst and Dentons have advised parties on the financial close of Abu Dhabi’s Al Ajban Solar Photovoltaic (PV) Independent Power Project.
Ashurst advised Emirates Water and Electricity Company (EWEC) in relation to the structuring, procurement, and financing of the plant.
Dentons acted for international sponsors EDF Renewables (EDFR) and Korea Western Power Company on the bid and financing stages of the project, including review of the finance documents.
The plant will be in the Al Ajban area of Abu Dhabi, with a power generation capacity of 1.5 gigawatts (AC).
Once operational, the plant is expected to generate enough electricity to power approximately 160,000 homes across the UAE and reduce Abu Dhabi’s CO2 emissions by more than 2.4 million metric tonnes per year.
With Al Ajban Solar PV, Abu Dhabi will be home to three of the largest single-site solar power plants in the world, alongside Al Dhafra Solar PV and Noor Abu Dhabi. These will play a pivotal role in the diversification of the UAE’s energy production and decarbonisation strategy.
The Ashurst team was led by Abu Dhabi partner Luke Robottom, supported by partners Natasha Kavanagh and Matthew Wood, who are based in the Abu Dhabi and London offices, respectively.
This is the second time this year Ashurst has supported a major sustainable venture in the UAE, having successfully closed on the first waste-to-energy facility to be developed in Abu Dhabi in July, alongside Herbert Smith Freehills and Al Tamimi & Company.
The Dentons team was led by partners Stephen Knight, Kanishka Singh, Colm O’Huiginn, and Graham Richmond.
Earlier this year Dentons advised on the financial close of the DEWA Phase VI, situated in Dubai.
