1. The Next “Champion” for Offshore Wind Development. While Taiwan has been the focal point for international developers in recent years, we now see Japan, South Korea, India, Vietnam, and potentially the Philippines actively pursuing offshore wind projects. Investors are focusing on Japan and South Korea for opportunities and Japan will likely emerge as the largest offshore wind market in Asia.
  2. BESS – Riding the Renewable Energy Growth. As renewable energy sources continue to expand, maintaining grid stability and reliability becomes increasingly challenging. Battery Energy Storage System (BESS) projects provide a crucial solution to this intermittency issue, enhancing grid stability and bolstering the resilience and reliability of the electricity supply system. We anticipate significant growth in this sector, with the success of Japan’s long-term decarbonization power source auctions potentially leading to similar initiatives in other jurisdictions.
  3. Data Centers and the Challenge to “Go Green.” As we advance into the era of artificial intelligence, the growing demand for data storage highlights the urgent need for greener and more sustainable data centers. Developers want to increase adaptation of renewable energy sources to boost sustainability and minimize environmental impact, but the reality of sourcing green energy is a challenge. We anticipate a continued emphasis on energy transition fuels until the region can offer reliable green energy to run data centers.
  4. Lingering Effects of COVID-19. The construction of large-scale energy projects continues to be impacted by the lasting impacts of the COVID-19 pandemic, with widespread reports of cost overruns arising from delays that occurred during the height of the pandemic. Consequently, this is likely to result in an increase in disputes among project participants. Given that disputes for such large-scale energy projects are typically resolved through SIAC or HKIAC arbitration, we anticipate continued growth in international arbitration in the region.
  5. Is Vietnam’s Energy Sector Turning the Corner? Although progress has been slower than anticipated, Vietnam is now making significant strides in developing its power sector. Key regulatory milestones have included the long-awaited approval of the National Power Development Plan (PDP 8) in May 2023, PDP 8’s implementation plan in April 2024, the issuance of Decree 80 introducing direct power purchase agreement (DPPA) mechanisms in July 2024, and Decree 115 for tender process in September 2024. These developments suggest that Vietnam is on the path to reshaping its regulatory environment for international developers who, in the recent past, have been critical of the lack of clear legal framework and investment certainty.

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Photo of Joseph Kim Joseph Kim

Joseph Kim is a global project finance and M&A lawyer, Co-Managing Shareholder of Greenberg Traurig’s Singapore office, and head of the firm’s Asia Energy and Infrastructure Practice. Joseph focuses his practice on energy and infrastructure projects, with deep experience in projects involving Japanese…

Joseph Kim is a global project finance and M&A lawyer, Co-Managing Shareholder of Greenberg Traurig’s Singapore office, and head of the firm’s Asia Energy and Infrastructure Practice. Joseph focuses his practice on energy and infrastructure projects, with deep experience in projects involving Japanese and Korean-led cross-border investments. With over two decades of experience in the renewables, conventional and nuclear power projects, Joseph advises first-of-its-kind and large-scale power projects across the globe. Understanding that power sector clients face diverse and complex issues, he develops custom strategies to help clients address their legal needs.

Joseph advises investors, sponsors, export credit agencies, commercial lenders, bilateral and multilateral agencies, and underwriters in connection with financing, acquiring, and developing a wide range of international energy and telecommunications projects. His experience includes matters involving power, upstream liquefied natural gas (LNG), natural resources, and renewable energy projects in Asia, the Middle East, and the Americas.

Photo of William Wu William Wu

William Wu advises on a wide range of corporate, M&A, and regulatory matters. He advises international clients on cross-border matters, representing both public and private clients in their mergers, spin-offs, and joint ventures, particularly for energy and infrastructure related projects such as onshore…

William Wu advises on a wide range of corporate, M&A, and regulatory matters. He advises international clients on cross-border matters, representing both public and private clients in their mergers, spin-offs, and joint ventures, particularly for energy and infrastructure related projects such as onshore and offshore wind farms, utility scale solar PV and hydro projects, and digital infrastructure projects across jurisdictions, including Taiwan, Vietnam, Japan, Indonesia, Brunei, Chad and Somaliland.

In addition to equity investments in the energy and infrastructure space, William also advises multinational corporations on their strategic alliances, distribution arrangements, product recalls, as well as cross-border disputes arising out of business transactions.

Born and raised in Taiwan, William has most recently been involved in various offshore wind and other renewable projects and has deep experience on auctions for various offshore wind farms in Taiwan. He is currently working on several other renewable projects in development and advising bidders on equity processes.

Photo of Jared Raleigh Jared Raleigh

Jared Raleigh is an experienced practitioner advising on large-scale and complex infrastructure and energy projects. Based in Singapore from 2011 to 2022, Jared advises on all phases of the development, structuring, and financing of infrastructure and energy projects and has broad experience in…

Jared Raleigh is an experienced practitioner advising on large-scale and complex infrastructure and energy projects. Based in Singapore from 2011 to 2022, Jared advises on all phases of the development, structuring, and financing of infrastructure and energy projects and has broad experience in analyzing, negotiating, and drafting the full suite of project and finance documentation in established and emerging markets.

Jared has had practical experience throughout the Asia Pacific region, having worked for clients on projects in Singapore, Indonesia, Philippines, Vietnam, Japan, Sri Lanka, Mongolia, the Middle East and Australia.

Prior to joining Greenberg Traurig, Jared spent several years as a senior in-house lawyer and M&A executive at global mining, energy, and infrastructure companies, ensuring that he brings an understanding of the business needs of clients and commercial focus to his practice.