Hai Long Offshore Wind Project (The Project) has officially appointed Mitsubishi UFJ Financial Group (MUFG) and Cathay United Bank (CUB) as its financial advisors since the first half of 2021. Specifically, MUFG will be leading discussions with international lenders, while CUB will focus on local lenders.
Hai Long plans to start construction from 2024 and connect the wind farms to the grid successively from 2025 onwards. The Project is currently working with MUFG and CUB actively on project finance with a target to reach financial close by 2022. MUFG Bank, Ltd. is Japan’s premier bank, with a global network spanning around 50 markets, with about 170,000 employees globally at approximately 2,500 locations. Outside of Japan, the bank offers an extensive scope of commercial and investment banking products and services to businesses, governments and individuals worldwide. MUFG has proven track record in a wide range of financial advisory services, including but not limited to origination, structuring, and agent services. It was ranked Global No.1 in MLA League Table of Project Finance International (PFI) Magazine for eight years in a row from 2012 to 2019 and was awarded Global Bank of the Year in 2011, 2013, 2015, 2016, and 2018 by PFI. In the Global MLA League Table for 2020, MUFG is ranked second place, closing 137 deals totaling USD 15,503 million.
Established in 2015, CUB's Project Finance & Advisory (PF&A) is the first specialized project finance team in Taiwan, bringing together international project finance experts combined with extensive local knowledge. CUB is also the first signatory for Equator Principles in Taiwan and is the leading green financing bank in Taiwan, supporting Taiwan's move towards renewable energy as early as 2011. In 2016, CUB financed the first Taiwan offshore wind project, which is now in commercial operation. CUB previously acted as financial advisor for Hai Long in 2018 during Taiwan’s FiT tender process.
Considering their strong track record, Hai Long Offshore Wind Project trusts that MUFG and CUB together, both with the extensive experience in international as well as local project financing, will bring forth the project finance deal of the largest scale in the offshore wind industry in Taiwan next year, successfully kick-starting the construction of the wind farms of more than 1 GW and driving Taiwan's energy transition.
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Media Contact
Hai Long Offshore Wind
Jewell Hsu, Senior Public Relations Manager
+886-900-841-211 / jewell.hsu@hailongoffshorewind.com