XEMC New Energy acquires majority interest and financing of 25 MW offshore wind project

Client(s) XEMC New Energy Co., Ltd

Jones Day is advising XEMC NE, a Chinese state-owned company, in the pending acquisition of a majority interest and financing of a 25 MW offshore wind project developed by Fishermen's Energy LLC in New Jersey state waters. XEMC NE will supply offshore wind turbines to this state waters project and to a potential 350 MW offshore wind project to be developed by Fishermen's Energy in federal waters. In addition, XEMC NE and Fishermen's Energy will enter into a joint venture to potentially develop a manufacturing facility in New Jersey to supply offshore wind turbines to the federal waters project and to other offshore wind projects.