Norton Rose Fulbright advises Masdar on pan‑Asian renewable energy JV with TotalEnergies

Global law firm Norton Rose Fulbright has advised Abu Dhabi Future Energy Company PJSC - Masdar, a global clean energy leader, on its agreement with TotalEnergies to establish a US$2.2 billion 50-50 joint venture to develop onshore wind, solar and battery storage projects across Asia.

The transaction will see both parties contribute a portfolio of development-stage and operational renewable energy projects located across nine Asian countries: Kazakhstan, Uzbekistan, Azerbaijan, Indonesia, Malaysia, the Philippines, South Korea, Singapore and Japan. The transaction is subject to regulatory and other customary approvals.

The joint venture aims to combine Masdar's and TotalEnergies' capital, technical and regional experience to accelerate the development of their combined renewable energy pipeline in these key markets, creating a portfolio with 3GW of operational capacity and 6GW of assets under development, all expected to be operational by 2030.

A multi-disciplinary, cross-border Norton Rose Fulbright team advised Masdar on all aspects of the transaction. The team was led by London-based partners Charles Whitney and Chris Grieves, with support from partner Chris Down and senior associate Khawaja Akbar.

Advice was also provided by London-based partners Michael Alliston (Tax) and Mike Knapper (Intellectual Property), senior associate Nathan Mallinson and associates Ed Davenport and Anita Peri (Projects), partner Hussain Kubba and associates Tim Chia and Tim Ikramov (Corporate), counsel Fareed Muhammed and associate Guy Vouha (Tax), senior associate Alex Redbourne and associate Polina Maloshchinskaia (IP), partner Jonathan Newman and counsel Nick Howard (Employment), partner David Harris and associate Lubna Fahoum (Disputes) and partner Lesley Browning, counsel Graeme Tricker and associate Loren Ward (Pensions). Further advice in Singapore was provided by partner Craig Loveless, senior associates Dexter Tan and Josiah Tam and associates Alden Tan and Nicole Lim and in Dubai by senior associate Michael Stevens. Partner Kresna Panggabean of Norton Rose Fulbright's associated Jakarta-based law firm TNB & Partners advised on corporate and commercial aspects in Indonesia alongside counsel Vanda Kaonang, senior associate Tias Karina and associates Hany Areta and Salman Sembiring.

Norton Rose Fulbright's projects team has supported Masdar for several years on the development of a number of the Central Asian projects forming part of the joint venture.