White & Case advises on US$3.1 billion project financing for CIP’s 495 MW Fengmiao 1 Offshore Wind Project in Taiwan

Global law firm White & Case LLP has 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 project is the first multi-party corporate power purchase agreement-backed offshore wind project in Taiwan and is an important milestone for the next phase of projects in the Asia-Pacific offshore wind industry,” said White & Case partner Fergus Smith, who led the Firm’s deal team, “The successful closing of Fengmiao 1 demonstrates the continuing resilience and increasing sophistication of the project financing market for Taiwan’s offshore wind projects.”

The TWD 103 billion (approximately US$3.1 billion) project financing is supported by a consortium of 27 international and Taiwanese banks, as well as 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.

White & Case partner and co-head of the Firm’s Global Energy Industry Group, Brendan Quinn, said: “White & Case continues to play a central role in the Asia-Pacific offshore wind sector as it continues to gain strength. The successful closing of Fengmiao 1 is another demonstration of the strength of our project financing and development team in the region.”

The White & Case team which advised on the transaction was led by partner Fergus Smith (Singapore) and included partners Tim Fourteau (Singapore), Joanne Emerson-Taqi (Sydney) and Candice Ota (Melbourne), counsel Donovan Ang (Melbourne) and associates Emily Cameron, Gabby Wong, Yun Yong, Alain Chan Hon (all Singapore), Kate Moriarty, Maiken Hansen, Meryl Liew, Sebastian Cross (all Melbourne), Charlie Hacker, Siqi Chen (both Sydney), Maxim Arrazola de Onate (Brussels), Katie Morgan and Laura Johnson (both London).

Press contact
For more information please speak to your local media contact.