07/16/2021 | Press release | Distributed by Public on 07/16/2021 03:23
Linklaters advised Global Power Synergy Public Company Limited (GPSC) on its agreement to acquire a 25% interest in the Taiwanese 595MW Changfang and Xidao (CFXD) offshore wind farm from Copenhagen Infrastructure Partners (CIP).
GPSC, a power flagship in the group of PTT Public Company Limited, will acquire the stake through its wholly owned subsidiary, Global Renewable Synergy Company Limited (GRSC). The transaction represents the total investment of approximately US$500m until project completion. Through the transaction, GRSC will enter the CFXD project as a co-owner alongside the funds under CIP, as well as the local Taiwanese minority stake shareholders.
The Linklaters team was led by Bangkok-based energy & infrastructure partner Wanwisar Nakarat and comprised a multi-jurisdictional and cross-practice team, including partner Andrew Penfold, counsel Ying Fu and Patsharamon Manathat from the energy & infrastructure group, and partners Robert Elliot and Sophie Mathur and managing associate Artem Boiko from the corporate practice.
Partner, Wanwisar Nakarat, commented:'This transaction builds on the firm's involvement across all the offshore wind financings in Taiwan, particularly on the CFXD project. We are honoured to support GPSC on this landmark transaction and its broader growth strategy to expanding investments in the renewable energy space.'
Asia Head of Corporate, Sophie Mathur, commented:'Linklaters has worked on many landmark energy and infrastructure sector M&A transactions across Asia, where our cross-practice and regional experience is essential. This transaction involved close collaboration between our Bangkok, Hong Kong SAR, London, and Singapore teams. We are delighted to have supported GPSC on this strategic investment.'