A consortium of 20 banks has signed a US$1.6 billion project financing agreement for the 300 MW Zhong Neng I offshore wind farm off the coast of Taiwan.
The project – being developed by a joint venture between Copenhagen Infrastructure Partners (CIP) (49%) and China Steel Corporation (CSC) (51%) – is planned for a site in the Taiwan Strait off Changhua County.
With financial close expected shortly, CSC and CIP will take Zhong Neng through its construction phase. Commercial operation is expected to start in 2025.
Jacket foundations will be supplied by CSC’s subsidiary, Sing Da Marine Structures, while Vestas will supply 31 of its V174-9.6 MW turbines. The project benefits from a 20-year PPA with the state-owned Taiwan Power Company, signed in 2019.
