Hebert Smith Freehills advises Mitsubishi Corporation on wind power investment in Laos
Mitsubishi Corporation invests in wind farm developer Impact Energy Asia Development Limited through its subsidiary Diamond Generating Asia, Limited, together with a Thai group company Impact Electrons Siam Co., Ltd.
The project is being developed within the framework of a memorandum of understanding on the exchange of electricity signed between the Vietnamese and Lao governments in October 2016. A dedicated electricity transmission line in Vietnam will allow the sale of the park’s electricity. wind farm to Vietnam Electricity, a state-owned power company for 25 years.
“We are delighted to have assisted Mitsubishi Corporation in this latest important transaction,” said Hilary Lau, energy manager for Asia. “This represents another important step in the company’s transformation strategy to enter new industries and new areas of growth, including sustainable energy production. “
“The renewable energy development and investment pipeline has never been stronger in Asia in general, and Southeast Asia in particular,” said Andrew Blacoe, head of energy, infrastructure, Japan. and mines.
“At the regional level, this trend reflects the energy industry’s ongoing decarbonization programs, while at the country level, it provides solutions for increased and complementary energy production to support development. “
In this case, the project’s energy supply will allow Vietnam to secure an energy source for its dry season when the country’s hydropower production capacity is limited, stabilizing Vietnam’s power system while making the country’s energy mix more green.
Hilary led a cross-border team advising Mitsubishi Corporation, supported by Glynn Cooper, Head of Energy and Infrastructure for South East Asia, Keith Gamble, Head of Finance Japan and Tokyo Advisor, Ong Kok Jin, Partner principal in Singapore, and Charles Wong and Christie Wu, partners in Hong Kong.