Hunton Andrews Kurth Advises EGCO Group in Acquisition of 25% of Wind Farm Project

Hunton Andrews Kurth’s Bangkok office assisted Electricity Generating Public Company Limited (SET: EGCO), in the cross-border acquisition of a 25% ownership interest in Yunlin Holding GmbH (Yunlin) from Taiwan Offshore Holding GmbH through Greenwing Energy B.V., a wholly-owned Netherlands subsidiary of EGCO.

Yunlin is developing a 640MW offshore wind power project located 8 km off the coast of Yunlin County in Taiwan, covering an overall area of approximately 90 square kilometres. Construction and commissioning of the project is set to occur in phases with phase 1 comprising 352MW scheduled for completion in Q4 2020 and phase 2 comprising 288MW scheduled for completion in Q3 2021.

Amid the current COVID-19 pandemic, Hunton Andrews Kurth’s attorneys were able to close the cross-border transaction virtually across four diverse geographic locations - Thailand, Germany, The Netherlands and Taiwan. As leading international counsel on the transaction, the team assisted EGCO on all aspects of the transaction from the share purchase agreement signing on December 18-19, 2019 through to the completion of the transaction on April 17, 2020 after securing regulatory and lender approvals.

The Hunton Andrews Kurth team was led by partners Edward Koehler, Chumbhot Plangtrakul and James P. Bradley with assistance from associates Chloe Kwon, Randy Oh, Hyun Jin Ha and Thaphanut Vimolkej.

The transaction also involved Lee & Li as Taiwan counsel and Beiten Burkhardt as German counsel for EGCO and Capital Nomura Securities Public Company Limited as the financial advisor to EGCO.