Total acquires 23% stake in 640 MW Offshore wind farm in Taiwan
Total has signed an agreement with wpd to acquire a 23% interest in Yunlin Holding GmbH, the owner of Yunlin offshore wind farm located off the coast of Taiwan, around 200 kilometers southwest of Taipei.
The project, currently under construction, represents a production capacity of 640 megawatts (MW) and benefits from a 20-year guaranteed-price power purchase agreement (PPA) with the state-owned company Taipower of US$250/MWh for the first 10 years and US$125/MWh for the following 10 years. For this acquisition of a 23% interest, Total will pay wpd a consideration based on its share of past costs.
Located around 10 kilometers offshore at water depths ranging from 7 to 35 meters, the wind farm will comprise 80 wind turbines with a unit capacity of 8 MW. Construction is scheduled to be completed in 2022. Once on stream, the project will produce 2.4 terawatt-hours (TWh) of renewable electricity per year, enough to serve the power needs of 605,000 households.
Procurement of the main components has been finalized and marine works are underway.
The project is currently 48%-owned by wpd, 25% by EGCO (Electricity Generating Public Company Limited), and 27% by a consortium of Japanese investors led by Sojitz (Sojitz Corporation, ENEOS Corporation, Chugoku Electric Power, Chudenko Corporation and Shikoku Electric Power).
Country news
-
-
February 19, 2021
Macquarie raises EUR1.6 billion for Renewable Energy Fund
Macquarie Infrastructure and Real Assets (MIRA) has raised more than EUR1.6 billion (USD1.93 billion) for investment in renewable energy with the final close of Macquarie Green Investment Group Renewable Energy Fund 2 (MGREF2) – exceeding its initial minimum fundraising target of EUR1 billion (USD1.2 billion).
Read more -
January 11, 2021
CPDQ and Cathay PE acquire 50% stake in 605 MW offshore wind farm in Taiwan
Ørsted has signed agreements with a consortium comprising global institutional investor Caisse de dépôt et placement du Québec (CDPQ), and Taiwanese private equity fund Cathay PE, who will be acquiring a total of 50 % ownership share of Ørsted’s 605 MW Greater Changhua 1 Offshore Wind Farm in Taiwan. CDPQ will be the majority owner among the two new partners.
Read more -
July 09, 2020
PPA signed for the full output of 920 MW wind farm in Taiwan
Ørsted and Taiwan Semiconductor Manufacturing Co Ltd (TSMC) have signed a corporate power purchase agreement (CPPA) wherein TSMC will offtake the full production from Ørsted’s 920 MW Greater Changhua 2b & 4 offshore wind farm in Taiwan, making it the largest-ever contract of its kind within renewable energy.
Read more -
April 21, 2020
EGCO Group closes acquisition of 25% stake in 640 MW Yunlin offshore wind farm project
Electricity Generating Public Company Limited (EGCO Group) has completed the acquisition transaction of a 25% ownership interest in Yunlin Holding GmbH which owns the 640 MW Yunlin offshore wind farm project in Taiwan.
Read more -
April 03, 2020
Strategic partnership to develop 448 MW offshore wind in Taiwan
innogy has partnered with Asia Cement Corporation to continue the development of a major offshore wind project off the coast of Taiwan. The two companies have agreed a strategic partnership to further develop the Chu Feng offshore wind project, which intends to participate in the next grid allocation round in Taiwan. With a planned installed capacity of up to 448 megawatt (MW), it will be located off the northwest coast of Taiwan near Hsinchu City, in the wind-rich Taiwan Strait.
Read more
