White & Case has advised the main sponsor of the $3 billion project financing of the Changfang and Xidao offshore wind projects in Taiwan, with Watson Farley & Williams and Linklaters counselling the lenders.

This is said to be the largest debt package for Taiwan’s offshore wind market. The Changfang and Xidao projects are majority-owned by Copenhagen Infrastructure Partners (CIP) while a minority stake is owned by Taiwan’s life insurance companies.

According to Reuters, the projects will have a total joint installed capacity of approximately 600 MW on completion, comprising a total of 62 turbines.

The White & Case team advising CIP was led by partners Brendan Quinn, Fergus Smith, and Andrew Clark.

Watson Farley & Williams, led by partners Evan Stergoulis, Daisy East, Jon Thursby, and Rob McBride, acted for a syndicate of international and Taiwanese banks, life insurance companies and cover providers.

Meanwhile, Nippon Export and Investment Insurance (NEXI) and Korea Trade Insurance Corporation (K-Sure) turned to Linklaters partners John Maxwell, James McLaren, and Joo Hee Lee for advice.

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