Clifford Chance advises on US1.25b investment in leading Asia Pacific renewable energy infrastructure group

Clifford Chance advises on US$1.25b investment in leading Asia Pacific renewable energy infrastructure group

16 November 2020

Tom Lin, Melissa Ng, Matthew Buchanan, Jordan Knowles, Marcus Berghouse, Marcella Stokell, , , , Richard Blewett, Mark Currell, Yong Bai, Zibo Liu, Isabelle Cameron, Carmen Puscas, , Catherine Ennis (She/Her), Tess Forge
Singapore, Sydney, Perth, Brussels, Beijing, Washington D.C., Tokyo

Clifford Chance advises on US$1.25b investment in leading Asia Pacific renewable energy infrastructure group

Leading international law firm Clifford Chance is advising a consortium including Ontario Teachers' Pension Plan (Consortium) in the Consortium's investment, alongside the Equis management team, of US$1.25 billion in Equis Development Pte Ltd (EDL). Credit Suisse (Singapore) acted as exclusive financial adviser to the Consortium.

EDL is focused on developing, constructing and operating primary and hybrid renewable energy and biomass generation, power grid distribution and transmission and waste infrastructure assets in Australia, Japan and South Korea. EDL is currently developing or constructing 40 assets across these target markets.

Speaking on the transaction Tom Lin offered, "We would like to congratulate the Consortium on this transaction which will continue to drive significant investment in renewable energy in the Asia-Pacific region. The transaction is testament to robust investor appetite in the sector, and we are delighted to have been able to deliver the firm’s depth of experience across complex multi-jurisdictional renewable platform transactions."

The Clifford Chance team is jointly led by Singapore partners Tom Lin, Melissa Ng and Asia-Pacific Head of Construction Matthew Buchanan (Singapore). They are supported by a core team comprising senior associates Jordan Knowles (Singapore), Marcus Berghouse (Sydney) and Marcella Stokell (Singapore), and associates Mark Hee (Singapore) and Kellie Grubb (Sydney), together with Head of Asia-Pacific Renewables Philip Sealey (Perth).

Partners Richard Blewett (Brussels), Mark Currell (Sydney) and Bai Yong (Beijing), senior associate Zibo Liu (Beijing), and associates Isabelle Cameron (Sydney), Carmen Puscas (Brussels) and Nan Lan (Beijing) provided antitrust and foreign investment advice. Counsels Catherine Ennis (Washington D.C.) and Tess Forge (Tokyo) advised on the ABC/AML aspects.

The broader Clifford Chance team includes partners and associates from offices in Beijing, Hong Kong, Perth, Sydney and Tokyo.

Completion of the transaction remains subject to conditions.

Clifford Chance regularly advises on market-leading renewables transactions around the world including Taiwan's landmark Formosa 1 and Formosa 2 offshore wind farms, Iberdrola on its Swedish offshore wind power partnership, Spain's Cabrera solar project (one of the largest solar parks in the country), and Qatar's Al Kharsaah solar project.