The French oil and gas company TotalEnergies and the portfolio company Corio Generation have formed a joint venture (JV) to develop the up to 2 GW Formosa 3 offshore wind project, located off the coast of Chuanghua County in Taiwan. Under the agreement, Corio Generation will remain the majority shareholder and lead developer with a 50% stake plus 10 shares in the project.
The Formosa 3 project, which received Environmental Impact Assessment approvals in 2018, comprises three wind parks: Haiding 1, 2 and 3. In December 2022, Taiwan’s Bureau of Energy confirmed that the Haiding 2 wind park had been awarded 600 MW of capacity following the first phase of Taiwan’s Round 3 auctions. Haiding 2 is expected to be commissioned in 2026.
At the end of 2021, offshore wind represented less than 1% of Taiwan’s installed capacity (with 237 MW), as the island only installed its first offshore wind turbine in 2017. Currently, Taiwan has nearly 3 GW of wind projects under construction and over 22 GW under development.
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