GIG achieves financial close for 376 MW Formosa 2 offshore wind project off the coast of Miaoli County

Macquarie’s Green Investment Group (GIG) has achieved financial close for Taiwan’s Formosa 2 offshore wind farm.

Formosa 2 has been jointly developed by Macquarie Capital (75%) and Swancor Renewable Energy (25%). GIG will now play a key role in delivering the project through its construction phase. The 376 MW offshore wind project located off the coast of Miaoli will utilise 47 market-leading 8 MW turbines. Once complete, it is estimated to displace 18,750 kt CO2 over its lifetime while powering the equivalent of 380,000 households annually.

Total funding for the project of NT$62.4 billion (US$43 billion), is financed by a consortium of 20 international and local Taiwanese financial institutions.