Deutsche Bank has closed a deal contingent interest rate swap on TWD90 billion (US$2.98 billion) for the financing of the Changfang and Xidao offshore wind project off the coast of Changhua County in Taiwan.
The two wind projects with a combined capacity of 589 MW has achieved financial close in February 2019. The wind farms are currently developed by Danish fund management company Copenhagen Infrastructure Partners (CIP) in partnership with Taiwan Life Insurance and TransGlobe Life Insurance.
Deutsche Bank has acted as the sole pre-hedging and hedging coordinator for the deal contingent hedge. The bank is part of the 25 companies consortium that provided about US$3 billion in debt financing for the project.
The two wind farms will be built about 15 km off the coast of Changhua County. It will be equipped with 62 V174-9.5 MW turbines from MHI Vestas Offshore Wind. The projects are expected to be fully commissioned by 2024 and will operate under a 20-year power purchase agreement (PPA) with state-owned Taiwan Power Co.
Country updates
-
-
April 13, 2020
JDR completes cable load-out for Changhua Offshore Wind Project
JDR Cable Systems (JDR), the leading supplier of subsea umbilicals and power cables to the offshore energy industry, owned by the TFKable Group, has completed the delivery of subsea power cables and a...
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...
Read more -
March 31, 2020
Fred. Olsen Windcarrier to transport and install 600 MW Changfang and Xidao offshore wind power complex
Fred. Olsen Windcarrier’s jack-up vessel Brave Tern has been awarded a contract by CSBC-DEME Wind Engineering in Taiwan. Brave Tern will commence the transportation and installation of the MHI V...
Read more -
March 11, 2020
JERA Co acquires 43.75% stake in 2 GW offshore wind project in Taiwan
JERA Co., Inc., Macquarie’s Green Investment Group (GIG) and EnBW Energie Baden-Württemberg AG (EnBW) have reached an agreement on the development of the 2 GW Formosa 3 offshore wind projec...
Read more -
February 27, 2020
MHI Vestas signs supply deal for 589 MW Changfang and Xidao offshore wind complex off Changhua County
MHI Vestas and CIP have finalized commercial agreements for the Changfang and Xidao projects in Taiwan with a combined capacity of 589 MW. The orders will feature 62 of the MHI Vestas’ flagship...
Read more
