Allen & Overy (A&O) and Shearman & Sterling advised on Qatar Electricity & Water Company’s $485.5m (£263.1m) limited recourse project financing for the construction of the Ras Abu Fontas B2 water and power project in Qatar. The project comprises the construction and development of a new power generation and water desalination facility. Tokyo- Mitsubishi, Calyon Corporate and Investment, Commercial Bank of Qatar, Gulf International, HSBC and Qatar National financed the deal. Shearman advised Qatar Electricity & Water Company, led by Abu Dhabi projects partner Tim Pick. A&O advised the banks, led by London-based projects partner Calvin Walker. Local firm Majdalany & Company also advised on the deal, led by associate Greg Englefield.