April 2026 – Kinstellar has recently advised TotalEnergies on its landmark agreement with Masdar to establish a USD 2.2 billion pan-Asian renewable energy joint venture.
The new joint venture will combine TotalEnergies’ and Masdar’s onshore renewable energy businesses across nine Asian markets, including Kazakhstan and Uzbekistan. The joint venture will comprise a portfolio of approximately 3GW of operational renewable energy assets and a further 6GW under development and is expected to be fully operational by 2030.
The transaction represents one of the most significant recent renewable energy investments in Asia and further underlines the growing importance of Central Asia and the wider region in the global energy transition. It also reflects increasing investor confidence in large-scale renewable energy projects and cross-border partnerships in emerging markets. The transaction involved the coordinated efforts of Kinstellar’s Uzbekistan and Kazakhstan offices, advising on the Uzbek and Kazakh law aspects of the transaction. Kinstellar carried out legal due diligence for TotalEnergies in relation to Masdar group companies in both Uzbekistan and Kazakhstan, and provided transactional and regulatory advice in connection with the establishment of the joint venture.
The Kinstellar team in Uzbekistan was led by Sherzod Yunusov (Partner) and Jakhongir Azatov (Managing Associate). They were supported by Kamilla Khamraeva (Counsel), Miraziz Khidoyatov (Senior Associate), Marjona Khafizova (Associate), Umid Abdullaev, Yuliya Kim, Dildorabegim Kholikova (Junior Associates), and Muhammadali Rahmonov.
The Kinstellar team in Kazakhstan was led by Joel Benjamin (Managing Partner), Yerlan Akhmetov (Partner) and Aisha Aidossova (Associate), with support from Maksim Grekov (Of Counsel) and Balzhan Sultanova (Associate).