AMP Capital has completed a US$145 million mezzanine debt investment with Stonepeak Infrastructure Partners to support the acquisition of one of Taiwan’s leading offshore wind farm developers, Swancor Renewable Energy Co., Ltd. The investment will support the construction of a new 376-megawatt (MW) offshore wind farm called Formosa II.
Formosa II is considered a priority project for the region and will be one of Taiwan’s largest offshore wind farms when construction is completed, which is currently expected to be in 2021.
The energy produced from the asset is contracted to the state-owned Taiwan Power Company for 20 years under a fixed-price power purchase agreement.
The offshore development will be located in the Taiwan Strait off the coast of Miaoli County, western Taiwan. The facility features 47 units of the SG8.0-167 DD offshore wind turbine. It is estimated to displace 18,750 kt CO2 over its lifetime while powering the equivalent of 380,000 households annually.
