Trowers & Hamlins advises DEWA on fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park

A consortium of advisers led by Trowers & Hamlins LLP (acting as legal counsel), Ernst & Young (EY) (acting as financial consultants) and GOPA-International Energy Consultants GmbH (acting as technical consultants) advised Dubai Electricity and Water Authority (DEWA) in relation to the fifth phase (Project) of the Mohammed bin Rashid Al Maktoum Solar Park (MBR Solar Park) which achieved financial close on 15 October 2020.

With an estimated completion date of 2030, the MBR Solar Park will be largest single-site solar park of its kind in the world with a total capacity of 5,000 MW. The Project, which represents the fifth phase of the MBR Solar Park, will have a capacity of 900MW. The Project will generate enough clean energy to power approximately 270,000 homes in Dubai.

In a move away from precedent transactions, DEWA has successfully procured the Project without the benefit of a government guarantee (in relation to DEWA’s payment obligations under the PPA). The Consortium was able to secure lender support for the Project based, in part, on DEWA’s now strong track record of delivering bankable solar IPPs.

The Trowers & Hamlins’ team was led by partners Thomas Wigley and Shaun Hardiman who were supported by Lydia Clatworthy, Sam Wood, Jennifer Barnett and Jacques Domican-Bird. The EY team was led by Rajeev Singh, partner, and Abhayjit Sinha, Director of Strategy and Transactions with support from Mohammed ElSewedy and Vahe Hadajian. The intec team was led by project managers Karsten Ley and Kuno Schallenberg.