RWE’s affiliate Innogy has created a partnership with Taiwan's cement company Asia Cement Corporation to develop the 448 MW Chu Feng offshore wind project located off the northwest coast of Taiwan near Hsinchu City. The two parties plan to participate in the next grid allocation round in the country.
Earlier in March 2020, JERA, the joint venture between Japanese power utilities TEPCO and Chubu Electric, signed an agreement with Macquarie’s Green Investment Group (GIG) and EnBW to buy a stake in the 1.9 GW Formosa-3 offshore wind project in Taiwan. JERA had already acquired a 32.5% stake in the 120 MW Formosa-1 offshore wind project (35% Ørsted, 25% Macquarie and 7.5% Swancor) and a 49% stake in the 376 MW Formosa-2 offshore wind project (26% Macquarie and 25% Swancor).
As Taiwan aims to exit nuclear power by 2025, the country targets to develop 1.2 GW of onshore wind power by 2020, and 5.5 GW of offshore wind power by 2025.
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