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Kosta Legal advises UAE’s Masdar on a PPP project in renewable energy

Friday, 15 November 2019

Kosta Legal has successfully advised Masdar, the UAE-based renewable energy company, on concluding a power purchase agreement and a government support agreement with the Uzbek government on designing, financing, building and operating the country’s first solar power plant. The project, being the Uzbekistan’s first competitively-tendered solar power public-private partnership, will add 100 MW of clean, renewable energy to the country’s energy mix. Having been tendered under the World Bank Group’s Scaling Solar program, the project is being implemented with support from the Austrian Ministry of Finance, Switzerland’s State Secretariat for Economic Affairs (SECO) and the government of the Netherlands.

Our role in the project was to provide comprehensive advise on the Uzbekistan’s PPP and energy legislation as well as on some specific matters in the areas of corporate, land, tax, foreign investment and financial law. We have also reviewed projects agreements and assisted in negotiations with the Uzbek government.

Kosta Legal’s team was led by Mr. Nail Hassanov, a recognised expert in the field, who has recently worked on several major PPP projects in Uzbekistan. His extensive experience in advising in energy projects, including the Uz-Kor Gas Surgil and Oltin Yol GTL projects, has been a major contribution to the Masdar’s innovative endeavour.

UAE-based Masdar is one of the global leaders in developing and operating utility-scale renewable energy projects, community grid projects, and energy services consultancy.

Scaling Solar is a World Bank Group solution that makes it easier for governments to quickly procure and develop large-scale solar projects with private financing. It includes a one-stop shop package of technical assistance, template documents, pre-approved financing, insurance products, and guarantees.