Baker & McKenzie LLP
01/07/2025 | Press release | Distributed by Public on 01/07/2025 02:21
Baker McKenzie Advises Tokyo Gas on its Investment in the Windfloat Atlantic Facility in Portugal
Baker & McKenzie (Gaikokuho Joint Enterprise) ("Baker McKenzie") advised Tokyo Gas Co., Ltd ("Tokyo Gas") on its acquisition of a 21.2% stake in WindFloat Atlantic, an operational floating offshore wind farm in Portugal operated by Windplus S.A., a majority-owned subsidiary of Ocean Winds ("OW"). The transaction closed in November. Tokyo Gas' press release regarding its participation in the floating offshore wind power project in Portugal can be found here.
The deal is also Tokyo Gas's first direct investment in an overseas floating offshore wind power project.
Developed by OW, WindFloat Atlantic is the world's first semi-submersible floating offshore wind farm with turbines capable of generating 8.4 MW. It employs the proprietary "WindFloat®" technology, a floating foundation system developed by Principle Power. The system boasts exceptional structural stability and has proven its ability to operate under severe weather conditions, including maximum wave heights of 20 meters and maximum wind gusts of 38.8 m/s. OW has been the facility's majority owner and operator since 2020.
The transaction was led by Samir Desai, a partner in the Baker McKenzie Tokyo Finance & Projects Group, supported by Finance & Projects Group associate Yoshihiro Bartlett-Imadegawa and Antitrust & Competition Group partner Michio Suzuki. A team from Baker's Madrid office was also involved.
The deal is also Tokyo Gas's first direct investment in an overseas floating offshore wind power project.
Developed by OW, WindFloat Atlantic is the world's first semi-submersible floating offshore wind farm with turbines capable of generating 8.4 MW. It employs the proprietary "WindFloat®" technology, a floating foundation system developed by Principle Power. The system boasts exceptional structural stability and has proven its ability to operate under severe weather conditions, including maximum wave heights of 20 meters and maximum wind gusts of 38.8 m/s. OW has been the facility's majority owner and operator since 2020.
The transaction was led by Samir Desai, a partner in the Baker McKenzie Tokyo Finance & Projects Group, supported by Finance & Projects Group associate Yoshihiro Bartlett-Imadegawa and Antitrust & Competition Group partner Michio Suzuki. A team from Baker's Madrid office was also involved.