Linklaters advised Thai utility provider Global Power Synergy Public Company (GPSC) in acquiring a 25% stake in the Changfang and Xidao offshore wind farm in Taiwan from local shareholders, Copenhagen Infrastructure Partners, for a USD500 million investment.
The Linklaters team was led by the managing partner of the Bangkok office, Wanwisar Nakarat, with the support of a multijurisdictional and cross-practice team, including energy and infrastructure partner Ying Fu in Hong Kong and corporate partner Robert Elliot in Singapore.
Fu said the completion of the transaction was a testament to the strong appetite for investment in the regional renewables markets, which continue to develop and mature. “We expect to see continued interest and new opportunities as Taiwan moves into the next phase of its offshore wind development,” she added.
GPSC acquired the stake through its wholly-owned subsidiary, Global Renewable Synergy Company. The power plant is expected to commence delivery in the first quarter of 2024, generating 595MW of electricity.
