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
Notes for editors:
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