Kosta Legal advises Masdar on Uzbek law aspects of JV with TotalEnergies

We have advised our long-standing client, Masdar, as Uzbek legal counsel on the Uzbek law aspects of its joint venture with TotalEnergies, formed as part of a broader multi-jurisdictional platform consolidating onshore renewable energy businesses across nine countries in Asia, with a total value of approximately USD 2.2 billion.

The joint venture was established outside Uzbekistan, with holding companies owning project companies across multiple jurisdictions contributed into the platform.

The Kosta Legal team was led by partners Nail Hassanov and Azizbek Akhmadjonov, supported by associates Islam Djakabaev and Iroda Tokhirova, junior lawyers Kumushkhon Abdumutalimova, Amal Yuldashev and Kamila Djabbarova, alongside a cross-practice team of lawyers from the firm’s PPP and Infrastructure, Corporate, and Real Estate and Construction practices.

Our mandate focused on the Uzbek law elements of the global transaction, including conducting legal due diligence on TotalEnergies’ Uzbek portfolio companies, advising on conditions precedent, supporting regulatory filings, and providing ongoing Uzbek law advice, delivered in close coordination with the London office of Norton Rose Fulbright.

The Uzbek portfolio within the platform is expected to comprise approximately 2.1 GW of operational assets and 0.8 GW under advanced development, forming part of one of the largest renewable energy portfolios in Uzbekistan.

Nail Hassanov commented: “We are pleased to have supported Masdar on this significant transaction and to continue advising on the development of its renewable energy portfolio in Uzbekistan. This engagement further reflects our experience in advising on complex, large-scale energy and infrastructure projects in the jurisdiction.”