White & Case Advised Copenhagen Infrastructure Partners On US$3.1 Billion Financing For Fengmiao 1 Offshore Wind Project In Taiwan
White & Case Advised Copenhagen Infrastructure Partners On US$3.1 Billion Financing For Fengmiao 1 Offshore Wind Project In Taiwan
White & Case LLP advised Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure V, on the TWD 103 billion (approximately US$3.1 billion) project financing and development of the 495 MW Fengmiao 1 offshore wind project, located 35 kilometers off the coast of Taichung, Taiwan.
This landmark transaction is the first multi-party corporate power purchase agreement (PPA)-backed offshore wind project in Taiwan, representing a significant step forward for the Asia-Pacific offshore wind industry.
The financing is supported by a consortium of 27 international and Taiwanese banks and export credit agencies, including Atradius Dutch State Business N.V., Credendo, Export & Investment Fund of Denmark, UK Export Finance, and Taiwan’s National Credit Guarantee Administration.
Fergus Smith, Partner at White & Case, who led the deal, remarked, “The successful closing of Fengmiao 1 demonstrates the continuing resilience and increasing sophistication of the project financing market for Taiwan’s offshore wind projects.”
Brendan Quinn, Partner and Co-Head of White & Case’s Global Energy Industry Group, added, “White & Case continues to play a central role in the Asia-Pacific offshore wind sector as it continues to gain strength.”
The White & Case team was led by Fergus Smith (Partner, Singapore), with support from Tim Fourteau (Partner, Singapore), Joanne Emerson-Taqi (Partner, Sydney), Candice Ota (Partner, Melbourne), Donovan Ang (Counsel, Melbourne), and associates Emily Cameron, Gabby Wong, Yun Yong, Alain Chan Hon (Singapore), Kate Moriarty, Maiken Hansen, Meryl Liew, Sebastian Cross (Melbourne), Charlie Hacker, Siqi Chen (Sydney), Maxim Arrazola de Onate (Brussels), Katie Morgan, and Laura Johnson (London).
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