Led by Hamburg partner Dr Christian Knütel, global law firm Hogan Lovells has been advising Northland Power Inc. and Yushan Energy Company Ltd on the development of the 1,022MW Taiwanese offshore wind farm Hai Long. Hai Long has now reached financial close of its approximately EUR 3,4bn (TWD 117bn) financing.
Since 2018, the Hogan Lovells Hamburg offshore wind team together with a team from its Singapore office has been advising on the project development and supervising the drafting and negotiation of all essential supply, EPC and installation contracts for the project’s complex multi-contracting structure, later alongside Linklaters who have been advising Hai Long on the finance agreements vis-à-vis the project lenders.
The financing will be provided by over 15 international and local lenders with support from Export Credit Agencies (ECAs) from six different countries.
Hai Long is located approximately 70 kilometres off the Changhua coast in the Taiwan Strait and consists of two phases, Hai Long 2 and Hai Long 3. Completion of construction activities and full commercial operations are expected in 2026/ 2027. Hai Long will play an important role in helping the Government of Taiwan achieve its renewable energy target of 15 GW of offshore wind to be constructed by 2035. Once operational, Hai Long will be one the largest offshore wind facilities in Asia, and provide enough clean energy to power more than one million Taiwanese households.
Hogan Lovells team for offshore wind project Hai Long
Dr Christian Knütel (Partner), David Gherdane, Dr Anna-Leah Tabios-Hillebrecht, Kathy Chang (Senior Associates), Dr Susanne Reil, Fabian Paehr (Associate) (all Project Finance, Hamburg and Frankfurt); Alex Wong (Partner) Kristen Lau (Senior Associate), Xi Lim (Associate), Julien Reidy (Senior Legal Counsel) (all Project Finance, Singapore).
