Linklaters has advised Marubeni Corporation, on their ¥100 billion plan to build approximately 140MW capacity offshore wind farms at Akita Port and Noshiro Port in northern Japan.
This is expected to be Japan’s first large-scale commercial offshore wind power project.
The project financing was provided by multiple domestic and foreign financial institutions, with MUFG Bank, Mizuho Bank, and Sumitomo Mitsui Banking Corporation jointly acting as the mandated lead arrangers.
Marubeni’s 12 joint business partners have invested in the project’s special purpose vehicle, Akita Offshore Wind Corporation and include Obayashi Corp, Tohoku Sustainable & Renewable Energy Co, Cosmo Eco Power Co, Kansai Electric Power Co, Chubu Electric Power Co, The Akita Bank, Ohmori Co, Sawakigumi Corp, Kyowa Oil Co, Katokensetu Co, Kanpu Co, Sankyo Co. and Kyowa Oil Co.
The transaction was led by partner Hirofumi Taba (Picture), supported by managing associates Mamiko Nagai, Mamoru Ikeda and associate Kana Hayashi.
Law Firms: Linklaters;