Clifford Chance

Clifford Chance advises the lenders to Masdar's 1.8GW sixth phase of Mohammed Bin Rashid Al Maktoum Solar Park in Dubai, UAE

Leading international law firm Clifford Chance has acted as lenders' counsel to the syndicate of banks supporting the winning Masdar team to achieve financial close on the 1.8GW sixth phase of the Mohammed Bin Rashid Al Maktoum (MBR) Solar Park in Dubai, UAE.

The MBR Solar Park is set to be the largest single-site solar park in the world and contributes significantly to supporting the UAE's renewable energy objectives. Upon completion, the MBR Solar Park will reduce over 6.5 million tonnes of carbon emissions annually, a step further in Dubai's Clean Energy Strategy 2050 and Net Zero Carbon Emissions Strategy.

The Clifford Chance team was led by Richard Parris (Partner) and Jeremy Barker (Counsel) and they were supported by a global team comprising of Vany Attarian (Senior Associate) and Tanvi Pahwa (Associate) on the finance workstream, Inaamul Laher (Partner) and Leo Faingata'a (Associate) on the construction workstream and Anne Drakeford (Partner) and Arshak Mkrtchyan (Senior Associate) on the hedging workstreams.

Richard Parris comments "We are delighted to advise the lenders to Masdar's team to achieve financial close on this important project which further supports the UAE's Clean Energy Strategy 2050 and Net Zero Carbon Emissions Strategy."

Clifford Chance has advised on a wealth of solar projects across the Middle East, including advising the lenders to 500MW Manah Solar IPP in Oman and the lenders on the landmark project financing of a 2GW solar power plant located in the Al Dhafra region of the UAE.