A&O Advised SeAH Wind to £367 Million Funding for Groundbreaking UK Wind Monopile Project
Global law firm Allen & Overy (A&O) steered Korean wind monopile giant SeAH Wind through its £367 million financing for
A&O Advised SeAH Wind to £367 Million Funding for Groundbreaking UK Wind Monopile Project Global law firm Allen & Overy (A&O) steered Korean wind monopile giant SeAH Wind through its £367 million financing for the world's biggest production facility, located in Teeside, UK. Backed by UK Export Finance (UEKF) and Korean export credit agency Korea Trade Insurance...
A&O Advised SeAH Wind to £367 Million Funding for Groundbreaking UK Wind Monopile Project
Global law firm Allen & Overy (A&O) steered Korean wind monopile giant SeAH Wind through its £367 million financing for the world's biggest production facility, located in Teeside, UK. Backed by UK Export Finance (UEKF) and Korean export credit agency Korea Trade Insurance Corporation K-Sure, SeAH Wind is set to revolutionize wind energy manufacturing.
With the offshore wind industry on the rise, SeAH Steel Holdings saw an opportunity in 2019. Drawing upon SeAH Group's decades of experience in steel pipe manufacturing, offshore engineering, and renewable energy, they established SeAH Wind.
This landmark deal marks two milestones: it's the world's largest wind monopile factory project and the UK's first. By 2027, it will create 2,250 jobs (750 direct and 1,500 in the supply chain) and churn out up to 200 monopiles annually, vital foundations for offshore wind turbines and a crucial pillar of global renewable energy growth.
Partner Henry Sohn led the A&O team with support from associate Alice Park.
“This transaction is a milestone for UK-Korea collaboration in the green economy. It leverages export finance and credit and renewable energy to deliver a complex and innovative financing solution that supports SeAH’s vision of becoming a global leader in offshore wind monopile production,” Henry Sohn said.