London, February 15, 2007 - Shearman & Sterling represented BNP Paribas and Calyon, as mandated lead arrangers, in respect of the financing of the extension of the Taweelah A1/10 Independent Power and Water Project located in Abu Dhabi.

The Taweelah A1/10 Project is jointly owned by Suez Tractebel, Total and the Abu Dhabi Water and Electricity Authority and was originally financed in 2000.

The project to upgrade and extend this power and desalination plant raises its power generation capacity.  It is also the first in this region to achieve financial close with Doosan as the Engineering Procurement Contract (EPC) constructor.

Commenting on the deal, Shearman & Sterling partner Kenneth MacRitchie said: “We are all delighted that the Taweelah A1 extension has achieved financial close.  Shearman & Sterling is pleased to continue its close involvement with projects in the Abu Dhabi market, as well as for the opportunity to work with BNP Paribas and Calyon on this project.”

The team at Shearman & Sterling comprised partner Kenneth MacRitchie, counsel Gregor Page, associates Jonathan Lagan and Anna Duncan and trainee George Mullin from the firm’s London Office.

For additional information contact:
Kenneth MacRitchie | Partner | London | +44.20.7655.5011 |
Sue Fendt | Media & Marketing Executive | London | +44.20.7655.5986 |