Advisor role taken by White & Case in a $3.3 billion financing arrangement for an offshore wind project in Taiwan.
White & Case, a global law firm, has played a significant role in the financing of Ørsted's Greater Changhua 2 Offshore Wind Farm in Taiwan. The firm advised export credit agencies and commercial lenders involved in securing approximately US$3.3 billion in project financing for the 632 MW offshore wind farm.
The Greater Changhua 2 Offshore Wind Farm, located 50-60 kilometres off Changhua County, represents continued expansion of Taiwan's offshore wind capacity. The project consists of two parts: the 295MW Greater Changhua 2a facility, which began commercial operations in 2023, and the currently under-construction 337MW Greater Changhua 2b project, scheduled for commissioning by the end of 2025.
Taiwan seeks to reduce its reliance on fossil fuels with the Greater Changhua 2 Offshore Wind Farm. The financing for the Greater Changhua 2 Offshore Wind Farm is provided amidst Ørsted's partnership and divestment program.
The financing package involved 25 banks and 5 Export Credit Agencies (ECAs), raising about TWD 90 billion (approximately DKK 20 billion) to support the development of the wind farm. White & Case's involvement included providing legal counsel to the financial entities facilitating this large-scale, complex transaction, leveraging their expertise in energy, infrastructure, and project finance sectors.
The White & Case team for the Greater Changhua 2 Offshore Wind Farm project was led by partner Brendan Quinn (Melbourne), with partner Chris Settle (Melbourne) and counsel Alexis Fong (Melbourne) also part of the team. Local partner Nathaniel Crowley (Hong Kong) was involved in the project, while associates Nettie Choo, Elloise Campbell (both Singapore), Annie Tran, Mikaylie Page, Emma Groves, Kate Moriarty (all Melbourne), and Nana Kwon (Seoul) made significant contributions.
White & Case has advised on seven successfully closed offshore wind projects in Taiwan, demonstrating the firm's commitment to supporting the country's renewable energy ambitions. The Greater Changhua 2 Offshore Wind Farm is a testament to White & Case's expertise and dedication in the energy sector.
The Greater Changhua 2 Offshore Wind Farm, a significant expansion of Taiwan's offshore wind capacity, is financed partly through a package involving 25 banks and 5 Export Credit Agencies (ECAs), totaling TWD 90 billion (approximately DKK 20 billion). This financing supports the country's environmental-science goal of reducing reliance on fossil fuels. White & Case, a global law firm, leverages its expertise in finance, energy, and project finance sectors, providing legal counsel to the financial entities involved in this complex transaction. Their team, led by Brendan Quinn (Melbourne), has demonstrated a strong commitment to Taiwan's renewable-energy sector, having advised on seven successfully closed offshore wind projects in the country. The Greater Changhua 2 Offshore Wind Farm's success underscores White & Case's dedication to the energy industry and climate-change mitigation.
