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Taiwanese project gets Japanese investors

By: Tom Russell 05/04/2019 wpd

General Windfarms

wpd group has announced that a consortium of Japanese investors led by Sojitz Corporation will acquire a 27 percent stake in its Yunlin offshore wind farm off the Taiwanese coast. Further members of the consortium are The Chugoku Electric Power Co., Inc., Chudenko Corporation, Shikoku Electric Power Co., Inc. and JXTG Nippon Oil & Energy Corporation.

"With the acquisition of the consortium around Sojitz as a co-investor we could achieve another important milestone for the project securing the equity financing of the so far largest offshore wind farm in Taiwan “, says Helge Rau, Head of M&A at wpd AG. "We are looking forward to the co-operation with this group of re-known investors and are well on track to finalise the overall financing of the project in due course."

The debt financing of the project comes from Taiwanese and international banks and financial institutions. wpd also stated that the project is close to financial close.

The start of offshore construction works is scheduled for March 2020. With a total capacity of 640 MW, the project is one of largest offshore wind farms that is being developed in Taiwan. It will be built 8km from the coast in the Taiwan strait and consist of 80 SGRE SG 8.0-167 DD turbines in the 8MW class.

The first half of the turbines are scheduled to be commissioned by 2020 and the other half in 2021, subject to financial close. The purpose of this project is to alleviate power shortages resulting from the scheduled shutdown of several nuclear power plants.

For more information on the projects concerned or on the Taiwanese offshore wind market overall, click here. You can also view projects worldwide on 4C Offshore's Interactive map.

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Taiwanese project gets Japanese investors

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