Baker McKenzie provided legal advice on wood based biomass power generation project in Shingu-city, Wakayama-prefecture
Tokyo, Japan, 25 February 2019 – Baker McKenzie provided legal advice on a wood based biomass power generation project in Shingu-city, Wakayama-prefecture implemented by Forest Energy Inc. and other sponsors (this “Project”).
This Project will be financed by project financing arranged by The Kiyo Bank, Ltd.. We also provided legal advice on the syndicated loan and its relevant agreements for the project financing entered into among the project company, The Kiyo Bank, Ltd., The Daisan Bank. Ltd. and The Hyakugo Bank, Ltd..
This Project is a cogeneration project which generates approximately 1,800kW of power and 2,800kW of heat with wood chips produced by local woods near this Project supplied by local foresters. This Project is expected to enhance the forest maintenance through the local material production companies and local foresters, and to stimulate the local economy.
Our Firm’s team was led by Naoaki Eguchi, the co-leader of our Firm’s Banking & Finance Practice Group in Tokyo. He was strongly supported by associates Kosuke Suzuki, Kensuke Oki and Takuya Nomura.
Naoaki had the following comments on the deal. “We believe that this Project has great social significance in contributing to the recent movements which are to enhance localized biomass power generation projects with the features of using local renewable energy in the area for the local production for local consumption and stimulating the local economy with creating new industry in the area, and to expand the introduction of the cogeneration system enabling to use the energy efficiently. We will continue to do our best to contribute to the society as a whole through providing legal advice to our client.”