Macquarie’s Green Investment Group and Swancor Renewable Energy announced Taiwan’s 376 MW Formosa-2 offshore wind project financial close. Requiring an investment of TWD62.4bn (USD2bn), the project will be financed by a group of 20 international and Taiwanese financial institutions.
In the meantime, Macquarie’s Green Investment Group and Swancor Renewable Energy confirmed an order of 47 SG 8.0-167 DD offshore wind turbines to Siemens Gamesa for the project and a 20-year service contract. Siemens Gamesa was selected as the preferred supplier in June 2019. In addition, Taiwanese firm Fortune Electric will provide the onshore infrastructure needed to connect the park to the national grid, whereas Luxembourg company Jan de Nul will supply the foundations and offshore cables.
Located off the coast of Miaoli County in Taiwan, Formosa-2 is expected to be commissioned in 2021 with start of construction in 2020. The wind park will supply Taipower over 20 years as part of Taiwan’s feed-in tariff scheme.
In October 2019, JERA, the joint venture between Japanese power utilities TEPCO and Chubu Electric, has signed an agreement with Macquarie Capital to buy a 49% participation in Formosa-2. Upon completion of the transaction, Formosa-2 will be owned by JERA (49%), Macquarie (26%) and Swancor (25%). The deal is subject to regulatory approval.
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