Tsar & Tsai Law Firm advises the Finance Parties in successfully reaching closing of the refinancing for Formosa 2 Offshore Wind Farm, whose sponsors consist of Synera Renewable Energy (SRE) and JERA Nex BP. The refinancing secured approximately NT$58.9 billion (approximately USD 1.96 billion) for the 376MW offshore wind farm and marks the first successful refinancing for offshore wind projects in both Taiwan and the Asia-Pacific region.

This transaction marks the 8th successfully closed offshore wind project financing in Taiwan on which the Tsar & Tsai team has advised, highlighting our position as a leading law firm in renewable energy and project finance in Taiwan.

The members of our team include Partner Janice Lin, Associate Partner Ellen Peng, Associate Ray Lin, and Associate Simon Lee.

The refinancing achieved more than two times oversubscription from a consortium of 27 domestic and international finance institutions, including 17 Taiwanese financial institutions (including 8 state-owned banks) and 10 international banks, as well as four export credit agencies (ECAs).