Albert Yu

Albert has been active in the energy and infrastructure sector for over 10 years, advising on financings, developments, joint ventures and M&A transactions. Albert represents a wide range of clients, working with project sponsors, lenders, export credit agencies and funds on market-leading energy and infrastructure projects in Europe and Asia.

Prior to joining Orrick, Albert was a Managing Associate at a Magic Circle firm. Albert has also worked in-house for a large global mining company.

• 交易经验

  Albert’s recent experience includes the following:

  Renewables – Offshore Wind

  • Offshore wind project, Poland: advising Ocean Winds on the €2 billion project financing of their 390 MW BC Wind offshore wind project in Poland (featuring commercial banks and institutional lenders). This project is one of the first large-scale offshore wind projects in the Baltic region, and Ocean Winds' inaugural project in Poland (and outside of western Europe).
    
  • West of Duddon Sands offshore wind farm, UK: advising Ørsted on its £456.1 million divestment of a partial stake in West of Duddon Sands Offshore Wind Farm to funds managed by Schroders Greencoat, including with respect to the associated investor acquisition holdco financing.
    
  • FengMiao 1 offshore wind farm, Taiwan: advising the export credit agencies, lenders and hedge providers on the approximately US$3.1 billion multi-tranche, multi-source (including ECA-backed) and multi-currency project financing of the 495MW Fengmiao 1 offshore wind farm in Taiwan, which is being developed by Copenhagen Infrastructure Partners through its fund Copenhagen Infrastructure V. This is the first offshore wind project in APAC (and among the first in the world) to be financed solely on the basis of several corporate PPAs.
  • Changhua 4 wind farm, Taiwan: advising Ørsted on its proposed divestment and stapled holdco financing in relation to the c.600MW Greater Changhua 4 offshore wind farm in Taiwan.
  • Global offshore wind portfolio sale: advising Ontario Teachers’ Pension Plan Board on a partnership with Corio Generation to develop an initial portfolio of up to 9GW of 14 fixed bottom and floating offshore wind projects across South Korea, Taiwan, Ireland and the UK. 
  • Hornsea 2 wind farm, UK: advising Ørsted on its divestment of a 50% stake in its 1.3GW Hornsea 2 offshore wind farm to a consortium comprising AXA IM Alts and Crédit Agricole Assurances, as well as on the stapled holdco financing arranged by Ørsted for the investors involving 30 international banks and EKF. 
  • Changhua 1 wind farm, Taiwan: advising 15 international and Taiwanese commercial banks and five export credit agencies (UKEF, Atradius, K-SURE, EKF and EDC) on the US$3bn holdco financing of the 605 MW Greater Changhua 1 offshore wind farm in Taiwan. 
  • Dogger Bank wind farm, UK: advising on the £5.5bn project financing of the Dogger Bank A and Dogger Bank B phases of the Dogger Bank Wind Farm and the subsequent £3bn project financing of the Dogger Bank C phase of the Dogger Bank Wind Farm, each phase involving 28-29 international banks and three export credit agencies (GIEK (now known as Eksfin), EKN and Bpifrance Assurance Export). 
  • Norfolk Boreas and Vanguard wind farm projects, UK: advising in relation to the 4.2GW Norfolk Boreas and Vanguard wind farm projects.
  • Neart na Gaoithe, UK: advising EDF on the development, construction and ECA-backed financing of the 448MW Neart na Gaoithe offshore wind farm in Scotland.
  • Race Bank wind farm, UK: advising Spring Infrastructure Capital (a fund created by Sumitomo, SMBC and Development Bank of Japan) on the £113m acquisition of Sumitomo's indirect minority interest in the 573 MW Race Bank offshore wind farm, located 27 km off the coast of Norfolk, UK.
  • Galloper wind farm, UK: advising Spring Infrastructure Capital (a fund created by Sumitomo, SMBC and Development Bank of Japan) on the £79m acquisition of Sumitomo's indirect minority interest in the 353 MW Galloper offshore wind farm, located 30 km off the coast of Suffolk, UK.
  • Westermost Rough wind farm, UK: advising the sponsors on the refinancing of the Westermost Rough offshore wind farm in the UK.
  • Lincs wind farm, UK: advising the lenders on the refinancing of the Lincs offshore wind farm in the UK.

  Renewables – Onshore Wind

  • Onshore wind portfolio, UK: advising Octopus Investments on the restructuring and releveraging of its 230MW portfolio of seven onshore wind farms in the United Kingdom via a common debt platform, with a flexible accordion and additional debt features allowing for further European assets to be brought into the deal whilst also permitting the inclusion of unsubsidised assets in the portfolio.
  • European wind portfolio: advising Octopus Renewables on its acquisition from RES of nine wind farms across France, the UK and Ireland in two deals totalling over €100 million, including in relation to possible repowering a number of the sites in France.

  Renewables – Solar

  • Copenhagen Infrastructure Partners and its subsidiary Elgin Energy, a leading international solar company with a portfolio of solar PV and battery storage development projects totalling 15GW+ across the UK, Australia and Ireland, in relation to a secured revolving credit facility provided to Elgin by Banco Bilbao Vizcaya Argentaria.
    
  • Solar portfolio, UK, Ireland and Australia: advising Copenhagen Infrastructure Partners, a global leader in renewable energy, through its flagship fund CI V, on the acquisition of a majority stake in the 15GW Elgin Energy solar PV and battery storage portfolio in the UK, Ireland and Australia.
  • Solar portfolio, Spain: advising OPTrust and Universities Superannuation Scheme in relation to the sale of an equity interest in their portfolio of solar projects in operation and under construction.
  • Solar portfolio, Europe: advising Octopus Investments on the financing of its portfolio of solar assets, including the subsequent exercising of the accordion feature thereunder to finance the acquisition of 15 additional assets into the portfolio.
  • Darlington Point Solar Farm, Australia: advising Octopus Investments on its acquisition of a majority stake in the Darlington Point Solar Farm, a greenfield site in western NSW.

  Energy from Waste

  • Newhurst Quarry, UK: advising the commercial lenders on the financing of the EfW facilities at the former Newhurst Quarry in Leicestershire.
  • Protos, UK: advising the commercial lenders on the financing of the EfW facilities at the Protos energy hub in Cheshire. 

  Biomass

  • Biomass portfolio, UK: advising Octopus Investments on the £174 million refinancing of its biomass and landfill portfolio.

  Nuclear

  • Sizewell C Nuclear Power Project, UK: advising the Nuclear Liabilities Financing Assurance Board, an independent body established by the UK Government to provide independent and impartial advice on the suitability of a funded decommissioning programme submitted by the prospective operators of a new nuclear power station, in relation to the Sizewell C nuclear power project in the UK.

  Energy Efficiency
  

  • SDCL Efficiency Income Trust plc: advising on the disposal of a diversified global portfolio of 11 operational and yielding energy efficiency infrastructure assets to Kyotherm.
    

  Please note: Albert’s experience includes that prior to joining Orrick.