Tokyo Gas Advances with Windplus Acquisition
Deal News | Jan 07, 2025 | Iberian Lawyer
Abreu Advogados, a Portuguese law firm, has successfully advised Tokyo Gas on acquiring a 21.2% stake in the Windplus project, which operates the WindFloat Atlantic—the world's first semi-submersible floating offshore wind farm. This acquisition comprises two parallel agreements for 20% and 1.2% stakes from OceanWinds (OW) and Principle Power Inc/Principle Power Portugal respectively. This move aligns with Tokyo Gas's Compass2030 strategy aimed at achieving CO2 Net-Zero targets and expanding renewable capacity globally to 6GW by 2030. The legal advisory team at Abreu Advogados was led by partner Armando Martins Ferreira, backed by a multidisciplinary group.
Sectors
- Renewable Energy
- Legal Services
Geography
- Portugal – The WindFloat Atlantic project is located off the coast of Viana do Castelo, in northern Portugal, and Abreu Advogados is a Portuguese law firm.
- Japan – Tokyo Gas, involved in the acquisition, is Japan's largest natural gas company.
Industry
- Renewable Energy – The article involves Tokyo Gas's acquisition of a stake in Windplus, which develops the WindFloat Atlantic wind farm, a renewable energy project.
- Legal Services – Abreu Advogados provided legal counsel throughout the acquisition process, representing the intersection of legal advisory in the energy sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tokyo Gas | Bidding Company | Company | Japan's largest natural gas company and acquirer of a stake in Windplus. |
| Abreu Advogados | Legal Advisor | Company | Portuguese law firm advising Tokyo Gas on the acquisition. |
| Windplus | Target Company | Company | Developer and operator of the WindFloat Atlantic project. |
| OceanWinds | Vendor | Company | Joint venture between EDP and Engie, selling a 20% stake in Windplus. |
| Principle Power Inc / Principle Power Portugal | Vendor | Company | Selling a 1.2% stake in Windplus. |