Gide, counsel to Total on signing an agreement with group Macquarie on the development of five wind projects of a cumulated capacity exceeding 2 GW in South Korea
3 September 2020
Deals | Asia | France | Projects (Finance & Infrastructure) | Energy
Gide has advised Total on signing a 50-50 partnership with Green Investment Group (GIG), a subsidiary of group Macquarie, on the development of five floating offshore wind projects in South Korea, with total capacity exceeding 2 gigawatts (GW). The partners aim to launch the construction of the first 500-megawatt project by end 2023.
South Korea aims to develop renewable energies to make up at least 20% of its electricity mix by 2030, including 12 GW offshore wind.
Gide advised Total with a team comprising partner Stéphane Vernay and senior associate Frédéric Colmou on project aspects; partner Alexis Pailleret and associate Chloé Bouhours on corporate / M&A aspects. The Brussels and Beijing offices advised on the competition law aspects with partner Ségolène Pelsy and associate Chloé Lameille and counsel Chen Xi and senior associate Zhao Jingjing.
Lee & Ko advised Total on the Korean law aspects of the deal.