First cut of steel celebrated for Hai Long pin piles

By: Tom Russell

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20/02/2023 Hai Long Offshore Wind

The Hai Long offshore wind project continues to progress, having executed the majority of its key contracts with suppliers and commenced early construction works including starting the fabrication of key components for the wind farm.

A first steel cutting ceremony was held for the pin piles at EEW Korea Heavy Pipe Construction's (EEW KHPC) yard in South Korea. It follows news in October 2022 that the company secured the contract with Hai Long.

EEW KHPC will provide a total of 156 pin piles for the wind farms. The pin plies will be tailored to accommodate the characteristics of Taiwan’s seabed and the conditions of Hai Long wind farms, which are located around 50km off Taiwan’s west coast, in water depths of up to 55 meters.

According Hai Long, it is actively working towards reaching financial close in 2023. The project will be financed by equity from shareholders and debt financing from local and international financial institutions.

As part of the funding strategy, the majority of project finance debt will be backed or covered by the Export Credit Agencies, which aims to reduce the exposure of financial institutions. The percentage of cover will be the highest in Taiwan's Offshore Wind Industry.   

In December 2022, as part of its partnership model, Northland announced it has partnered with a global organization to advance its interest in Taiwan. Northland signed an agreement with Gentari International Renewables Pte. Ltd. (“Gentari”), to acquire 49% of Northland’s ownership interest in the Hai Long offshore wind project. Transaction close remains subject to receipt of customary local regulatory approvals and satisfaction of all closing conditions pursuant to the terms of the purchase and sale agreement.  

Upon closing, the transaction will result in Gentari holding a 29.4% indirect equity interest in the Project. Northland stated it remains committed to the project and as the largest shareholder and will continue to take the lead role in its construction and operation. 

The Hai Long projects are located 50-70 km from the shore and includes three sites: Hai Long 2A (300 MW), Hai Long 2B (232 MW) and Hai Long 3 (512 MW). Construction is due to commence in 2024 and be completed by 2026. It will consist of 73 SG 14-222 DD turbines, each with a 14 MW capacity.

About the Author

4C Offshore | Tom Russell
Tom Russell

01502 307037 Tom.Russell@4coffshore.net
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