Dacheng Legal Team Assisted Hubei New Energy Co., Ltd. in Acquiring a Over RMB 1 Billion Onshore Wind Power Project

Recently, Dacheng Legal Team assisted Hubei New Energy Co., Ltd. in acquiring a 277.2MW wind power project in Hebei Province with a transaction value of over RMB 1 billion. With the continuous implementation of China's strategy of "reaching peak carbon and being carbon neutral", there has been a growing number of merger and acquisition businesses in the new energy power generation field. The merger and acquisition project of Hubei New Energy aims to deploy national onshore wind power farms to own more high quality wind resources and to implement the strategy of "reaching peak carbon and being carbon neutral" so as to realize the strategic goals of the company and its superiors.

Hubei New Energy Co., Ltd.

Hubei New Energy Co., Ltd., a second-tier unit of Yangtze River Industrial Investment Group Co., Ltd., with paid-up capital of RMB 256.56 million, is mainly engaged in the investment, research and development, construction, operation and maintenance of solar energy, wind energy, geothermal energy, biomass energy, hydrogen energy and other new and renewable energy. Hubei New Energy Co., Ltd. adheres to the principles of combining resource reserve with gradient utilization, and combining industrial investment with capital operation. By May 2022, with its assets of RMB 2 billion, Hubei New Energy Co., Ltd. has become a provincial investment platform for new energy industry in Hubei Province.

This Merger & Acquisition project is a onshore wind power project with complicated transaction procedures, numerous transaction documents and different appeals of the parties, which requires a higher level of quality and professionalism of legal services. Dacheng Team, acting as the special legal counsels for this Merger & Acquisition, provided legal services throughout the whole process of the Merger & Acquisition, including onsite due diligence, recommendation on the Merger & Acquisition plan, amendment and negotiation of the Merger & Acquisition agreement, project review, issuance of written legal opinions, etc. Dacheng Team provides professional, comprehensive, timely, high quality and efficient legal services, and receives favorable comments from clients. The team consists of Luo Changde, a senior partner, and lawyers such as Liu Hu, Zhang Yuliang, Wang Xuan and Yu Xinyu.