Al Tamimi & Company, Skadden and Clifford Chance advised Acelen Renewables, a renewable energy company of Mubadala Capital, on key aspects of its US$3 billion sustainable fuel project in Brazil.
The project involves the construction and operation of a state-of-the-art 20,000 barrels-per-day biorefinery in São Francisco do Conde, Bahia, which will convert vegetable oils and animal fats into sustainable aviation fuel (SAF) and renewable diesel (HVO). The facility is expected to be Brazil’s first dedicated SAF and HVO plant and one of the largest SAF production facilities in the world.
Al Tamimi & Company acted as ADGM counsel to Acelen Renewables in connection with the landmark financing for the project.
The Al Tamimi team was led by Partner and Head of Projects Mark Brown, and Associate (Banking & Finance) Marianna Margaritidou.
The team was supported by the Corporate team comprising Nour Srour, Sabaa Mahmood and Jane Espanto, and the Tax team comprising Rachel Fox and Nawel Benaisa, who advised on the ADGM structuring aspects of the transaction.
Skadden, Arps, Slate, Meagher & Flom acted as international counsel to Acelen Renewables on the financing.
The Skadden deal team was led by Julia Czarniak, Thomas Perry and Annalise Groves.
Clifford Chance advised Acelen Renewables on the offtake and feedstock structuring and contracting for the project.
The Clifford Chance team comprised partners Patrick Jackson (São Paulo) and Jonathan Castelan (Houston), counsel Philip Walsh (Amsterdam) and associate Sam Bentley (Houston).
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