Macquarie’s Green Investment Group (GIG) sells 25% stake in Taiwan's Formosa-1 wind farm

Japan’s Mitsui OSK Lines, Toho Gas, and Hokuriku Electric Power will collectively acquire a stake of 25% in Macquarie Group's Formosa International Investment to enter Taiwan’s offshore wind power business.

Formosa International Investment owns and operates the 128 MW Formosa 1 offshore wind project that is located about 6 km off the west coast of the Miaoli district in Taiwan Strait. The project, consisting of 120 MW Phase 1 and 8 MW Phase 2, has been in operation since 2019. Taiwan Power Company has contracted the energy produced from the plant under a feed-in tariff (FiT) contract.

Formosa I International Investment owns the offshore wind complex through subsidiary Formosa I Wind Power Co Ltd (FWPC). The special purpose company is 35%-owned by Denmark’s Ørsted A/S, Japan’s JERA Co owns a 32.5% stake, and Taiwan’s Swancor Holding Co Ltd owns 7.5%.