Global law firm Norton Rose Fulbright has advised sponsors Ferrostaal Industrial Projects (Germany), Engie (France) and the Danish Investment Fund for Developing Countries on the development and financing of the 55MW wind farm at Sainshand in Mongolia. The operation of the wind farm will contribute to reducing Mongolia’s carbon emissions as well as meeting its increasing power demand.
The Sainshand wind farm area is located 15km north-east of Sainshand City, in an area of 1,020m above sea level. Completion of construction of the project is expected to be achieved in January 2019.
The cross-border Norton Rose Fulbright team was led by partner Chris Down, with the support of senior associates Doreen Tchan, Jamie Munro, Elizaveta Bazarova and Jared Franicevic and associates, Michael Poole and Adrian Wieslaw. Partner, Nicky Davies led a Singaporean team advising on the construction arrangements, supported by senior associates Alexander Hill and Aditya Rebbapragada, and further European support was provided from Munich by partner, Dirk Trautmann, of counsel Sebastian Frech and associate Johanna von Proff, and in Luxembourg, by partner, Stephane Braun, of counsel, Cyril d’Herbes and associate Thomas Tomasic. Singaporean law advice was provided by partner Yu-En Ong and associate, Zhenning Kong.
Chris Down, partner at Norton Rose Fulbright commented:
“Mongolia is a particularly challenging environment for project finance due to the underlying economic condition of the country, which has been hit by commodity pricing in recent years. Closing the financing of this project in the prevailing environment is a credit to the sponsors and their supporting lenders. This is the third wind farm in the region, following the Salkhit Wind Farm and Tsetsii Wind Farm, and we are delighted to have brought such a cross border team together to advise the sponsors. The project will strengthen the country’s contribution to reaching the national renewable energy targets.”
The Norton Rose Fulbright team has previously advised EBRD on the Salkhit wind farm in 2012, and provided Singapore law advice to Denmark’s Vestas Asia Pacific Wind Technology for the supply of turbines for the Tsetsii Wind Farm.
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