Norton Rose Fulbright advises Chinese SOE Norinco International Cooperation Ltd. on the controlling stake acquisition in a Croatian wind farm
Global | Business | March 27, 2018
Global law firm Norton Rose Fulbright has advised Beijing-based Norinco International Cooperation Ltd. on the US$71 million acquisition of rights to build and operate a 156-megawatt wind power project in the Adria coastal area of central Croatia.
Located along the coast of the Adriatic Sea in central Croatia and eight kilometers northeast of Senj, the wind farm covers an area of 44.8 square kilometers and has an overall installed capacity of 156MW. Its equipment mainly includes 39 units of 4MW wind turbines, which are expected to generate power for 3,400 hours annually on average, with 530 million kilowatt hours of electricity generated per year.
Norinco International Cooperation is a Chinese state-owned construction company which has contracted large-scale projects, involving transportation, housing, energy, communications and environmental protection and other fields in over ten countries and regions in Asia, Africa, and Europe.
The Norton Rose Fulbright team was led by Beijing partner Tom Luckock and included associate Liu Xinti.
Tom Luckock commented:
“By investing in and operating in this project, our client is positioning itself for expansion in both the energy and European market share and portfolio. This deal is a fine representation of the activities driven by Belt and Road Initiative and is only one out of a very robust pipeline of deals. Our China practice has been very busy in advising on a range of infrastructure, energy and project financings across the globe, especially in assisting our Chinese clients venture abroad and we look forward to advising more of such deals in the year to come.”
For further information please contact:
Jessica Seah, Marketing and Communications Manager, Asia. Norton Rose Fulbright
Tel: +852 3405 2327
jessica.seah@nortonrosefulbright.com
Notes for editors:
Norton Rose Fulbright
Norton Rose Fulbright is a global law firm providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, the Middle East and Africa.
Recognized for its industry focus, Norton Rose Fulbright is strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through its global risk advisory group, the firm leverages its industry experience with its knowledge of legal, regulatory, compliance and governance issues to provide clients with practical solutions to the legal and regulatory risks facing their businesses.
Norton Rose Fulbright operates in accordance with its global business principles of quality, unity and integrity, aiming to provide the highest possible standard of legal service in each of its offices and to maintain that level of quality at every point of contact. Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices.