NEWSLETTER

Sign up to read weekly email newsletter

13 years 🥳 of Publication, 100k+ Stories, 30+ Countries

Legal Desire Media and Insights
Donate
Search
  • Law Firm & In-house Updates
  • Deals
  • Interviews
  • Insight
  • Read to know
  • Courses
Reading: Clifford Chance advises on financing of 1,022MW Hai Long offshore wind farm project in Taiwan
Share
Aa
Legal Desire Media and InsightsLegal Desire Media and Insights
  • Law Firm & In-house Updates
  • Deals
  • Interviews
  • Insight
  • Read to know
  • Courses
Search
  • Law Firm & In-house Updates
  • Deals
  • Interviews
  • Insight
  • Read to know
  • Courses
Follow US
Legal Desire Media & Insights
Home » Blog » Clifford Chance advises on financing of 1,022MW Hai Long offshore wind farm project in Taiwan
Deals

Clifford Chance advises on financing of 1,022MW Hai Long offshore wind farm project in Taiwan

By Legal Desire 4 Min Read
Share

Clifford Chance has advised the export credit agencies (ECAs) and lenders on the financing of the construction and operation of the 1,022MW Hai Long offshore wind farm project in Taiwan, which has been jointly developed by Northland Power Inc. and Mitsui & Co., Ltd. with Gentari International Renewables Pte. Ltd set to acquire 49% of Northland Power’s ownership interest.

The project, which comprises the 294MW Hai Long 2A offshore wind farm, the 224MW Hai Long 2B offshore wind farm and the 504MW Hai Long 3 offshore wind farm, is the first offshore wind farm in Taiwan to be banked on the basis of the new corporate power purchase regime and the largest non-recourse offshore wind project financing to date in the region. The financing will be provided by over 15 international and local lenders, with ECA support from Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), Export Development Canada (EDC), UK Export Finance (UKEF), Export Finance Norway (Eksfin), Delcredere|Ducroire (Credendo) and Export Finance Australia (EFA).

A cross-border team across Singapore, Sydney, Tokyo, DĂĽsseldorf, Frankfurt, Amsterdam and London advised on the financing of the project, led by partners Ross Howard, Florian Mahler and Matthew Buchanan, with support from legal project manager Debby Ratnasari. The core financing team included counsels Sunny Jong and Jason London, senior associates Tom Capel, William Holmden and Desmond Ng, associates Yuri Higashi, Didi Hu, Brianna Harcus and Wen Xiao and trainee associate Haeyoung Kim.

Additional expertise was provided by counsel Marcella Stokell and senior associate James Thornton (construction and procurement due diligence), counsel Miles Binney and associates Leland Hui, Allison Tan and Karen Jiang (hedging), partner Nigel Howorth, senior associate Kirsty Souter and associate Alex Madafiglio (environmental & social matters), counsel Tess Forge and associate Joey Ng (sanctions/regulatory matters), counsel Philip Walsh (ECA cover documents) and partner Hein Tonnaer, senior associate Martine Trip and associate Chris Verheesen (Dutch law matters). Partner Hans Menski and associate Crystal Lim advised the covered lenders in relation to the ECA cover.

Lee and Li acted as local counsel to the financiers.

Ross said, “Set against a backdrop of challenging market conditions, the closing of this project is a significant achievement by all of the stakeholders. This project financing demonstrates that it is still possible to deliver large-scale offshore wind projects in Taiwan and in the APAC region more broadly. We hope that the closing of the Hai Long project could be the key that unlocks the region’s offshore wind potential.”

Florian added, “Our team was able to draw upon our global experience and integrated capabilities in construction, projects and financing to advise on this highly complex multi-source finance transaction. This was a project with stakeholders spanning the globe, from Canada to Australia, and everywhere in between, and is a demonstration of true international cooperation helping to deliver on the energy transition needs of Taiwan.”

Clifford Chance is a market leader in advising on renewable energy projects in Asia Pacific, most recently advising on the 5GW Elanora offshore wind farm project in Victoria, Australia. The firm has also previously advised on some of Taiwan’s most significant offshore wind projects, including CDPQ on its landmark US$2.7 billion acquisition and financing of Greater Changhua 1, the US$2 billion financing of Formosa 2 and the US$627 million financing of Formosa 1 – Taiwan’s first commercial scale and Asia Pacific’s first project financed offshore wind farm.

You Might Also Like

Dentons Link Legal advises Genesys International on its Qualified Institutions Placement

Dentons Link Legal Advises Tata Capital on Financing of Cleantech Solar

Freshfields advises Sun King Nigeria on c.$80m local currency financing

Freshfields advises Charterhouse on the entry of new investors in Novétude

Mayer Brown advises Vitruvian Partners on acquisition of premium travel business Great Rail Journeys

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

Don’t miss out on new posts, Subscribe to newsletter Get our latest posts and announcements in your inbox.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Don’t miss out on new posts, Subscribe to newsletter Get our latest posts and announcements in your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Legal Desire September 28, 2023
Share this Article
Facebook Twitter Email Copy Link Print

YOU MAY ALSO LIKE

Dentons Link Legal advises Genesys International on its Qualified Institutions Placement

Dentons Link Legal acted as the sole legal counsel as to Indian laws for the qualified institutions placement of equity…

Deals
May 27, 2025

Dentons Link Legal Advises Tata Capital on Financing of Cleantech Solar

Dentons Link Legal acted as legal counsel to Tata Capital Limited in connection with the extension of financial assistance to…

Deals
May 27, 2025

Freshfields advises Sun King Nigeria on c.$80m local currency financing

Global law firm Freshfields has advised Greenlight Planet Sun King Nigeria (Sun King Nigeria), a leading distributor and financier of…

Deals
May 24, 2025

Freshfields advises Charterhouse on the entry of new investors in Novétude

Freshfields advised Charterhouse Capital Partners (“Charterhouse”), one of the longest-established private equity firms operating in Europe, on the transaction involving…

Deals
May 19, 2025

For over 10 years, Legal Desire provides credible legal industry updates and insights across the globe.

  • About
  • Contact Us
  • Legal Marketing Service for Law Firms and Lawyers
  • Privacy Policy
  • Terms & Condition
  • Cancellation/Refund Policy

Follow US: 

Legal Desire Media & Insights

For Submissions/feedbacks/sponsorships/advertisement/syndication: office@legaldesire.com

Legal Desire Media & Insights 2023

✖
Cleantalk Pixel

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?