495 MW Offshore Wind Farm in Taiwan Fully Subscribed via CPPA

Synera Renewable Energy Group (SRE) has announced that all 495 MW of capacity for its Formosa 4 offshore wind project in Taiwan has now been fully sold through long-term corporate power purchase agreements (CPPAs), meaning the project has secured buyers for all of its planned electricity output. Formosa 4, located off Miaoli County, is ready to start construction and is seen as an important part of Taiwan’s energy transition toward renewables, but SRE is urging government support and financial backing from local banks and institutions to finalize the project financing and credit arrangements needed to begin building. 

The project recently concluded multiple CPPAs, including one with Taiwan Smart Electricity & Energy and others with major corporate and power services buyers, highlighting strong demand for clean power and industrial support. In addition to the offtake agreements, SRE has already contracted key partners for construction and equipment from wind turbine supply and maintenance with Siemens Gamesa to marine transport and installation works with firms like CSBC-DEME Wind Engineering, positioning the project for development once financing is in place. 

Formosa 4, planned off the coast of Miaoli County, secured capacity in Phase 3’s first auction round in 2022 and obtained its establishment permit in late 2024, becoming the first of its cohort to reach this milestone. Once completed, the wind farm is expected to generate approximately 2 billion kWh of green electricity annually.