IFLR1000

Changfang and Xidao 600MW offshore wind farm

24/2/2020
Project finance
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NT$ 90 billion

Announced

24/2/2020

Overview:

  • The multi-phase Changfang and Xidao offshore wind farm projects—located 13-15km off the coast of Changhua County in Taiwan—will have a total joint installed capacity of 600MW on completion, comprising a total of 62 turbines.
  • A syndicate of international and Taiwanese commercial banks, life insurance companies and cover providers, including export credit agencies have raised NT$90 billion ($3 billion) for its project financing.
  • The project is being developed by Copenhagen Infrastructure Partners, Taiwan Life Insurance and TransGlobe Life Insurance.
  • The loans which include multi-tranche, multi-currency financing arrangements, and cover provider-supported pieces will be used to fund the construction stage of the projects.
  • It is the largest debt package raised in the Taiwanese offshore wind market to date.

Adam Majeed - IFLR1000 

 

Jurisdiction:

Taiwan

Deal type:

Project finance

Practice area:

Project development

Industry sector:

Energy

Firms:
Bech-Bruun

Party: Copenhagen Infrastructure Partners (Project developer, Financial sponsor)

Watson Farley & Williams

Party: MUFG Bank Ltd (Lender, Financial adviser)

Party: ABN Amro (Lender)

Party: Credit Agricole Corporate and Investment Bank (Lender)

Party: CTBC Bank (Lender)

Party: Deutsche Bank (Lender)

Party: DBS Bank (Lender)

Party: HSBC (Lender)

Party: JPMorgan Chase (Lender)

Party: KDB (Lender)

Party: KGI Bank (Lender)

Party: KfW (Lender)

Party: Mizuho Bank (Lender)

Party: Natixis (Lender)

Party: OCBC (Lender)

Party: Santander (Lender)

Party: Societe Generale (Lender)

Party: Standard Chartered Bank (Lender)

Party: Sumitomo Mitsui Banking Corporation (Lender)

Party: Copenhagen Infrastructure Partners (Financial sponsor)

Party: Atradius (Financiers)

Party: EKF Denmark's Export Credit (Financiers)

Party: K-SURE - Korea Trade Insurance Corporation (Financiers)

Party: NEXI - Nippon Export and Investment Insurance (Financiers)

Party: UKEF (Financiers)

Party: EnTie Commercial Bank (Lender)

Party: E-SUN Commercial Bank (Lender)

Party: Taipei Fubon Bank (Lender)

Party: Taiwan Life Insurance (Financial sponsor)

Party: TransGlobe Life Insurance (Financial sponsor)

Party: GIEK (Financiers)

Lawyers: Daisy East, Rob McBride

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