Fergus Smith
Biography
Overview
Fergus specializes in the project financing, development and sale & purchase of energy & infrastructure projects. He has over 20 years of experience, and has been based in Asia since 2014. He is the Global Head of White & Case’s offshore wind practice.
He is acknowledged as a "leading figure in renewable energy projects" in Asia Pacific: Legal 500, Asia Pacific, and "a leading figure in offshore wind projects in North Asia and LNG regasification projects around Asia Pacific": Legal 500, Asia Pacific. His team was named ‘Team of the Year – Project Finance’ at the IFLR Asia-Pacific Awards 2024 and is acknowledged as being "at the forefront of offshore wind energy projects in Asia Pacific": Legal 500 Asia-Pacific.
Clients say that Fergus is:
- "very proactive and extremely good. He serves the client better than many other partners out here, and is able to look at developing countries with a fresh set of eyes": Legal 500 Asia Pacific.
- "very calm, measured and a steady pair of hands": Chambers Asia-Pacific.
- "a problem solving oriented person and gets the deal closed": Legal 500 Asia Pacific.
Fergus' approach is to seek creative common ground – leveraging his experience advising developers, financiers, export credit agencies and investors on energy & infrastructure projects spanning Asia-Pacific, Africa, Europe, South America and the Middle East.
Fergus was previously Senior Adviser (Legal and Governance) to the Prime Minister of Australia.
Experience
The sponsor on the development, USD 3.1 billion project financing, and equity sell down of the 495 MW Fengmiao 1 Offshore Wind Project in Taiwan. This project is the first multi-party corporate power purchase agreement-backed offshore wind project in Asia, and was supported by 27 international and Taiwanese banks, as well as 5 export credit agencies.
The ECAs and a syndicate of international and Taiwanese banks on the USD 1.6bn project financing of Ørsted's and Cathay Life's 583MW Greater Changhua 4 Offshore Wind Project in Taiwan: Asia-Pacific Power Deal of the Year 2024, PFI.
The sponsor on the development and project financing of the 100MW San Miguel Bay Offshore Wind Project in the Philippines.
The sponsor on the development, USD 3 billion project financing and various equity sell downs of the 589MW Changfang and Xidao offshore wind project in Taiwan: Asia Renewables Deal of the Year 2020, PFI. This project was financed by a consortium of 25 international and Taiwanese banks and financial institutions, as well as six export credit agencies.
The sponsors on the development and project financing of the 96 MW Jeonnam offshore wind project in Shinan County in Jeonnam Province, South Korea: Renewable Energy Deal of the Year – Offshore Wind 2023, IJGlobal Asia Pacific and South Korea Renewable Deal of the Year – Wind 2023, The Asset Triple A Sustainable Infrastructure. This project was financed by a syndicate of international and Korean banks, and was the first non-recourse project financed offshore wind project in South Korea.
The ECAs and a syndicate of international and Taiwanese banks on the EUR 2.7 billion project financing of the 640MW Yunlin offshore wind project in Taiwan: Asia Renewables Deal of the Year 2019, PFI. This included the subsequent restructuring of the project. This project was the first large-scale offshore wind project in Taiwan to reach financial close.
Stonepeak on its acquisition of Swancor Renewable, including its interest in the Formosa 2 offshore wind project in Taiwan: Renewables Deal of the Year, Asia Pacific 2019, Infrastructure Investor.
The sponsors on the development and project financing of the USD 1.6 billion 298MW Zhong Neng Offshore Wind Project in Taiwan: Finance Deal of the Year: Projects 2022, Asia Legal Awards. This project was the first offshore wind project in Taiwan to access liquidity from the Taiwanese state banks.
The lenders on the project financing of Summit Corporation's LNG regasification facility in Bangladesh.
The developer on a market defining hydrogen supply chain project spanning four continents.
AIIB, EBRD and ICBC on the project financing for Zhanatas Wind-Power Station LLPs construction and operation of a 100 MW wind farm in Kazakhstan.
The sponsor on the MDB-backed project financing of a gas fired power project in Afghanistan.
The sponsor on the project financing of a 150 MW wind & solar project in Burgos, the Philippines, supported by EKF. The matter was awarded "Asia Pacific Deal of the Year" by Trade Finance, "Asia Pacific Renewables Deal of the Year" by PFI Awards, and "Asia-Pacific Wind Deal of the Year" by IJGlobal Awards.
Up & Coming: Chambers Asia-Pacific, 2020
Recognised Practitioner for China/Hong Kong: Projects & Infrastructure, Chambers Asia-Pacific 2018
Notable Practitioner for China/Hong Kong: Projects & Infrastructure, Chambers Asia-Pacific 2016