Australian lawyers advise on US$3bn financing for wind project in Taiwan

Deal shows strength of the sector and increasing interest of global funds in quality Asian assets, top lawyer says

Australian lawyers advise on US$3bn financing for wind project in Taiwan

Australia-based experts of a global law firm jointly headed a team that played a key role in the financing of a major wind project in Taiwan.

White & Case advised Copenhagen Infrastructure Partners on the US$3bn project financing of the 589MW Changfang & Xingdao Offshore Wind Project (CFXD OWP).

The global firm’s team was headed by partners Brendan Quinn, Fergus Smith, and Andrew Clark. Quinn and Clark are both based out of White & Case Melbourne, while Smith is based in Singapore.

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“The success of Copenhagen Infrastructure Partners in the Taiwan offshore wind sector is a strong statement about the growing strength of the sector," said Quinn, the firm’s head of project finance in the Asia-Pacific region. “It also provides a further demonstration of the increasing activity of global infrastructure funds seeking quality assets in the Asian market.”

Smith said that the financial close of CFXD OWP is an important step toward Taiwan’s goal of having 15.5GW of offshore wind power generation capacity by 2035.

The transaction comes after the White & Case team’s success advising on the €2.7bn financing of the Yunlin offshore wind project, which closed in 2019, said Clark, who is the firm’s Asia-Pacific head of projects.

With the CFXD OWP transaction, the White & Case team has advised the sponsor, lenders, and equity investor on the three largest wind projects in Taiwan to reach financial close, Clark said.

The White & Case team in the Asia Pacific also included lawyers Alexis Fong, Candice Ota, Hilary Cure, Chenez Dyer Bray, Nettie Choo, Donovan Ang, Callum Fitzpatrick, Philippa Cordi, Ee Lynn Tan, Sarah Oh, Ostiane Goh-Livorness, and Kevin Lee.

 

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