We’re happy to report that Norton Rose are helping wind farms in Mongolia…
Here’s their press release on the subject
Norton Rose Group advises the Asian Development Bank on wind farm in Inner Mongolia
International legal practice Norton Rose Group has advised The Asian Development Bank on the RMB164m (US$24m equivalent) financing of a wind farm in Inner Mongolia to be developed and operated by a Datang, Sumitomo and Kyushu consortium. The transaction was significant since it is the first private sector wind farm project to be supported by the Asian Development Bank in the PRC. A representative from Asian Development Bank has described the transaction as potentially a "model for future collaborations between state-owned enterprises and foreign investors in renewable energy projects…"
The Norton Rose team was led by Singapore-based partner, Nick Merritt, and Beijing-based partner, Tom Luckock and assisted by Hannah Logan (Singapore), Pamela Ng (Singapore) and Wang Lu (Beijing).
Nick Merritt, an energy and infrastructure specialist commented, "We are delighted to have supported Asian Development Bank on their first wind farm project in the PRC, which follows on from our role advising Asian Development Bank on its recent wind power financings in India for the CLP group. There is increasing interest in the wind sector in Asia and our market leading reputation in the sector has enabled our regional clean energy team to support new developments such as Asian Development Bank’s financing in PRC."
Tom Luckock, a clean energy specialist based in Beijing commented, "It is a pleasure to have been involved in this significant transaction for Asian Development Bank in PRC. We are assisting a large number of equity investors in PRC renewables projects, but debt raising has always been more difficult for clients. The Asian Development Bank closing this transaction should hopefully open the way for more foreign lending into PRC renewables."
