JERA joins Formosa 3

4C Offshore | Tom Russell
By: 09/03/2020 JERA

JERA Co., Inc. (JERA), Macquarie’s Green Investment Group (GIG) and EnBW Energie Baden-Württemberg AG (EnBW) have reached an agreement on the development of the
Formosa 3 offshore wind project in Taiwan. JERA, a joint venture of two major Japanese electric companies TEPCO Fuel & Power Incorporated and Chubu Electric Power Company, has acquired a 43.75% share of the project. Both GIG (31.25%) and EnBW (25%) hold the remaining interest in the project.

Formosa 3 is an offshore wind project in Changhua county off the central-western coast of Taiwan. It’s comprised of three separate sites, Haiding 1, 2 and 3, with a combined potential capacity of 2 GW. GIG and EnBW have been developing the project to date and intend to pursue capacity in Taiwan’s next round of grid allocations, expected in 2020. Formosa 3 secured its Environmental Impact Assessment approval in 2018.

JERA’s entry into Formosa 3 follows its former partnership with GIG in on the
Formosa 1 and Formosa 2 offshore wind projects. Both projects have reached milestones recently, with the completion of Formosa 1 - Taiwan’s first commercial scale offshore wind farm - and the commencement of construction on Formosa 2.

Mark Dooley, Global Head of Green Investment Group said: “GIG and JERA have established a strong and successful relationship in Taiwan’s offshore wind market, and we’re delighted to further deepen that partnership through Formosa 3. Partnership working is key to GIG’s development approach, bringing together international and local expertise to support local economies and create world class developments. Taiwan is fast becoming Asia’s foremost offshore wind market. We’re extremely proud that through Formosa 3, and our work on a range of renewable energy technologies, our Taipei-based team are playing a key role in Taiwan’s green energy transition.”

Dirk Güsewell, Head of Generation Portfolio Development at EnBW said: “EnBW is looking forward to JERA joining us in the Formosa 3 project. We are convinced that Formosa 3 will benefit from JERA’s local expertise and experience as project partner of Formosa 1 and 2. EnBW has more than 10 years’ experience in offshore wind energy, being a pioneer and driving force in Germany. Together with our partners, we aim to develop Taiwan’s largest offshore wind farm. Taiwan is currently the lead market in Asia Pacific, and we are very honoured to support Taiwan’s Energy Transition process and the local supply chain to become competitive in the region.”

Satoshi Yajima, Executive Officer of JERA’s Business Development Department said, “We are flattered to deepen our relationship with Macquarie’s Green Investment Group following the Formosa 1 and 2 offshore wind projects, and newly with EnBW through the participation in the Formosa 3 project. In line with JERA’s vision of becoming a global leader in LNG and renewables toward 2025, we are extremely honoured to be contributing to the sustainable growth of Taiwanese power market by utilizing our long track record in the power sector all over the world.”

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