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General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool, Britain September 5, 2018. REUTERS/Phil Noble//File Photo

Clifford Chance has advised Canadian institutional investor Caisse de dépôt et placement du Québec (CDPQ) on its $2.7 billion joint investment with France’s Cathay PE to acquire 50 percent of the Greater Changhua 1 offshore wind farm in Taiwan from Denmark’s Ørsted.

Ørsted will continue to own the remaining 50 percent, while also contracting with the project company to construct and operate the project.

The 50-50 partnership is the first of its kind in the Asia-Pacific offshore wind sector. It also represents CDPQ’s first direct investment in Taiwan. The construction of the 605MW offshore wind farm is scheduled to be completed in 2022.

Partners Ross Howard, Valerie Kong and Paul Landless led the Clifford Chance team.

 

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