Global law firm White & Case LLP has advised Mitsui & Co., Ltd. in its capacity as a sponsor on the financing and development of the Hai Long Offshore Wind Power Project in Taiwan, the largest limited-recourse offshore wind financing in Asia to date.
At an approximate total project cost of JPY960 billion, the project comprises 73 large wind turbines to be located offshore Changhua County, Taiwan, with a combined generation capacity of 1,022 MW. It is anticipated to commence operations from the end of 2025.
Funding for the project will be provided by Japan Bank for International Cooperation, Nippon Export, Investment Insurance and other financial institutions around the world.
The White & Case team which advised on the transaction was led by partners Paul Harrison and Julien Bocobza (both Tokyo) and included partners Jun Usami (Tokyo) and Tzi-Yang Seow (Hong Kong, Singapore), partner of counsel Toshio Dokei (Tokyo) and associates Michael Richter, Kevin Lee, Emily Jiang, Mizuki Hyuga (all Tokyo) and Victor Lim (Singapore).
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