King & Wood Mallesons has advised China’s Shenhua Group, which, via its subsidiary Guohua Energy Investment Co. Ltd, recently agreed to purchase a 75 percent stake in the Musselroe wind farm from Australia’s Hydro Tasmania. The target was represented by Freehills.
Shenhua and Hydro Tasmania agreed in September this year to establish a joint venture, Musselroe Wind Power Holdings, to develop the project in the northeast part of the state of Tasmania. Construction began at the end of 2011 and the farm and is expected to start operating in June 2013.
This deal is Guohua’s second purchase in Australia, following its acquisition of a 75 percent stake in Woolnorth Wind in February. After the completion of the project, the total installed wind power capacity of Guohua in Australia will reach 307,800 kilowatts.
Xiong Jin, KWM’s Beijing-based partner who was the leading counsel, said in a statement: “The King & Wood Mallesons Chinese and Australian teams cooperated closely and provided high-standard seamless legal services covering every stage of the transaction including initial preparations, business negotiation, due diligence, EPC contract drafting, financing arrangements, transactional documents as well as obtaining regulatory approvals in both countries. We are pleasured to have been able to assist Guohua get this deal across the line.”
Liu Zhen is China senior journalist at ALB. Follow us on Twitter:@ALB_Magazine.
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