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A&O Shearman advises Masdar on $6.1bn financing package for BESS project. A&O Shearman, a leading law firm, has advised Abu Dhabi Future Energy Company (Masdar) on a combined $6.1 billion financing package for a landmark solar-plus-storage project in Abu Dhabi. Integrating a 5.2GW solar photovoltaic (PV) plant with a 19 gigawatt-hour (GWh) battery energy storage system (BESS), the Round-the-Clock (RTC) renewable energy project is the largest and most technologically advanced system of its kind in the world. Backed by a consortium of 13 leading international and local banks, the $5.1 billion financing package demonstrates strong market confidence in both the project's commercial viability and Masdar's ability to deliver complex energy infrastructure at scale. Masdar is funding $1 billion of equity for the project, being developed in Abu Dhabi by Masdar and Emirates Water and Electricity Company (EWEC). This transaction marks a pivotal step in addressing growing demand for grid stability and supporting year-round power supply, including peak summer periods and the energy-intensive requirements of data centres. It also positions Abu Dhabi at the forefront of global renewable energy innovation, setting a precedent for similar projects across the MENA region and beyond, said A&O Shearman. "This landmark development and financing demonstrate the confidence of regional and international financiers in the viability of solar-plus-storage as a baseload power solution," said Joe Clinton, partner at A&O Shearman. "The scale and complexity of this project - combining 5.2GW of solar PV with 19GWh of battery storage to deliver round-the-clock renewable energy - underscores the sophistication of the region's project finance markets and their ability to support first-of-a-kind structures, even in a challenging regional and global environment." The A&O Shearman team was led by partners Joe Clinton and Elliott Sawford, supported by senior associates Thomas Bramah and Farah El Yacoubi, associates David Lekashingo and Gillian O'Rourke, and trainee Karim von Daniken, with senior legal support professional Yifan (Yvonne) Yuan. Civil law support was provided by partner Anthony Traboulsi, counsel Anthony Mrad, and associate Nour Gemayel. Derivatives expertise was led by partner Daniel Smith with senior associate Michel Abi Saab, associate Iman Faruki, and trainee Jamie Samuels. Project management support came from senior legal project manager Joe Ward and legal project executive Alix Morris.

Unlocking clean energy investment for African industrial growth. Innovators and investors target early stage validation to convert theoretical renewable potential into bankable projects across the continent. * By Jesse Jacobs * August 04, 2026 An upcoming session at the Future Economies Forum during African Energy Week will focus on converting proven technological innovations into bankable industrial investments across Africa. The session, hosted by the Zayed Sustainability Prize, addresses a primary hurdle facing the continent. Despite holding an estimated 850 terawatts of theoretical wind and solar potential, only a small portion of Africa's clean energy assets has secured commercial financing. Organizers emphasize a deployment model focused on demonstrating measurable impact first to reduce risk for private and public capital. The framework mirrors recent momentum in regional renewable development, including a $10 billion initiative targeted by Masdar and Africa50 to build 10 gigawatts of capacity by 2030, a 10-gigawatt wind project in Egypt and a planned $27.2 billion green hydrogen complex in Morocco. Data center expansion offers a similar roadmap for scaling capital. While the continent accounts for 1% or less of global data center capacity, operational capacity exceeds 500 megawatts with an additional 890 megawatts under development. South Africa's artificial intelligence data center market alone is projected to grow from $99.37 million to $572.63 million by 2031. Industry analysts note that digital infrastructure attracts funding because commercial demand and revenue models are clear. The upcoming forum will examine how applying similar validation standards to clean energy projects can establish the investor confidence needed to scale financing across the region. Jesse Jacobs is Assistant Editor of EPOnline.com.

AFD provides a loan to CGES for power grid modernisation. July 29, 2026 Montenegro's transmission system operator (CGES) signed a 25-million-euro loan agreement with the French Development Agency (AFD), backed by a state guarantee, to modernise the Perućica and Pljevlja 2 substations. According to CGES, the reconstruction of the Perućica substation will enable the integration of up to 350 MW of hydropower capacity, while the modernisation of the Pljevlja 2 substation will strengthen connections with the Trans-Balkan network and support Montenegro's gradual transition from coal-fired electricity generation to more sustainable sources. As the company noted, the financing marks AFD's first investment in Montenegro's energy sector and underscores the joint commitment of France and Montenegro to accelerating the country's energy transition and strengthening the resilience of the electricity grid. The operation builds on the technical assistance provided by RTE International (RTEi), the French electricity transmission system operator, since 2024. RTEi supported the preparation of the project, helping to strengthen CGES' technical capacities and align the modernisation of Montenegro's transmission network with European standards. "This investment marks the beginning of a long-term partnership between AFD and Montenegro, aimed at a more sustainable development of the country," said Novica Vuković, Minister of Finance. "Beyond infrastructure upgrades, this project is a strategic investment in Montenegro's future," Admir Šahmanović, Minister of Energy and Mining, wrote in a LinkedIn post. "It will enhance the integration of renewable energy sources, improve energy security, and support the development of a more sustainable, efficient, and competitive electricity system." The Montenegrin Electricity Distribution System (CEDIS) has recently signed a tripartite partnership agreement with AFD and France's EDF International Networks (EDF IN), establishing a strategic technical cooperation to modernise the distribution network. UAE-based clean energy company Masdar and Elektroprivreda Crne Gore (EPCG), Montenegro's national power utility, have partnered to develop renewable energy capacity. Sign up for its newsletters to receive curated news across the energy agenda in 20+ countries in Central and South-eastern Europe. Delivering the most important energy stories of the month selected by its Editor-in-chief All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday. All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.