Ørsted Secures Cathay as Majority Investor in 632 MW Greater Changhua 2 Offshore Wind Project

Ørsted has signed an agreement with Cathay Life Insurance and its affiliate Cathay Power, under which Cathay will acquire a 55 % ownership stake of Ørsted’s 632 MW Greater Changhua 2 Offshore Wind Farm.

Located approximately 50–60 km off the coast of Changhua County, the Greater Changhua 2 site comprises Greater Changhua 2a (295 MW), which is operational, and Greater Changhua 2b (337 MW), which Ørsted is currently constructing, with commissioning expected in Q3 2026. Under the agreement, Ørsted will provide long-term operations and maintenance (O&M) services from its O&M hub at the Port of Taichung. The total value of the transaction for the 55% equity stake is approximately DKK 5 billion (US$782.8 million) and takes into consideration the existing project financing arrangements. The closing of the transaction is planned to occur simultaneously with the project reaching commercial operations, which is expected in Q3 2026. In July 2025, Ørsted reached financial close on a project financing package of approx. DKK 20 billion for the entire project.