A consortium of Japanese investors led by Sojitz Corporation and including Chugoku Electric Power, Chudenko, Shikoku Electric Power and JXTG Nippon Oil & Energy Corporation has acquired a 27% interest in WPD's 640 MW Yunlin offshore wind park in Taiwan, which is currently under development. It will feature 80 Siemens Gamesa 8 MW turbines and is expected to break ground in March 2020. The project is part of the Taiwanese feed-in-tariff programme and will be contracted for a 20-year period.
Taiwan aims to develop 5,500 MW of offshore wind capacity by 2025, most of which will be contributed by the Changhua projects (2,400 MW in total), currently expected between 2021 and 2025. It recently introduced a new feed-in-tariff (FiT) set at TWD5,516/MWh (about US$1.8c/kWh) for 20-year offshore wind power purchase agreements (PPAs) that will be signed in 2019 along with a tiered production cap: developers will receive 100% of FiT for production up to 4,200 annual full-load hours (i.e. 48% load factor), 75% of FiT for production from 4,200 to 4,500 annual full-load hours (48%-51% load factor) and 50% of FiT for production above 4,500 annual full-load hours (51%-plus load factor).
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