NAME: Pacific Energy Group’s Joint Venture Agreement to build a $1.7 billion alternative energy solar field
LAW FIRM: DFDL
PRACTICE AREAS: General Business Law
INDUSTRY SECTORS: Energy, Infrastructure
Pacific Energy Group’s Joint Venture Agreement (JVA) to build a $1.7 billion alternative energy solar field is our deal of the month for March.
DFDL has advised Pacific Energy Group through its subsidiary, Eleris Energy, in signing a JVA together with the Bangladesh Army Welfare Trust to build a 1000MW, $1.7 billion alternative energy solar field in Bangladesh. The project is slated to begin mid-2022.
Upon completion, the solar field will be tied as the fifth largest in the world, with the potential for expansion in the future. Chairman of Pacific Energy Group, Douglas Anderson stated to media that the project will “help Bangladesh become a world leader in reducing their carbon footprint to fight climate change”. The agreement was finalised and signed by Bangladesh Army Welfare Trust managing director, Brigadier General Abul Mansur Md Ashraf Khan and Eleris Energy CEO, Jerry Price.
The DFDL Bangladesh team was led by managing director and partner Shahwar Nizam, and includes senior associate Saif Bhuiyan and trainee Araf Rahman.