Augusta & Co (“Augusta”) is pleased to announce the sale of a 50% interest in Yushan Energy Company Ltd. (YECL), a subsidiary of Enterprize Energy, which owns the rights to a 40% net interest in the Hai Long Offshore Wind development in the Taiwan Strait.
Yushan Energy Company Ltd. (YECL) is a wholly owned subsidiary of Enterprize Energy focused on Taiwan offshore wind energy development and is based in Taipei City, Taiwan. It is co-developer of the Hai Long Offshore Wind Farm project, a joint venture with Canada’s Northland Power Inc.
Mitsui is one of the most diversified and comprehensive trading, investment and service enterprises inthe world, with 137 offices in 66 countries as of March, 2018.
Mr. Hatton, Chairman and Founder Director of Enterprize Energy, commented: “following in depth discussions over the last year, we are pleased to be have entered into these Agreements with Mitsui, a company of global standing with a strong commitment to innovation. We are pleased to facilitate Mitsui’s entry into the offshore wind sector through taking up part ownership of YECL”.
He continued, “our Framework Agreement is a basis for further mutually beneficial collaboration with Mitsui on other projects within the Enterprize Energy opportunity inventory in both Europe and Asia”.
Mr. Tsung-Hua Chen, CEO of YECL said: “This is a wonderful opportunity for Yushan and Mitsui to further develop their co-operation and move forward with opportunities within the Asia-Pacific region. Yushan looks forward to working closely with Mitsui’s experienced personnel”.
Augusta & Co acted as exclusive financial adviser to Enterprize Energy in the transaction.