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WPD reaches financial close for 640 MW offshore wind project in Taiwan

4 Jun 2019

The German wind project developer WPD has achieved financial close for its 640 MW Yunlin offshore wind project in Taiwan. The TWD 94bn (US$3bn) wind project is supported by 19 banks and three export credit agencies from Denmark (EKF), Germany (Euler Hermes) and the Netherlands (Atradius). The project is owned by WPD with a 73% stake and by a consortium of Japanese investors led by Sojitz Corporation and including Chugoku Electric Power, Chudenko, Shikoku Electric Power and JXTG Nippon Oil & Energy Corporation with 27%. The offshore wind park will feature 80 Siemens Gamesa 8 MW turbines and is expected to be commissioned in December 2021. The project is part of the Taiwanese feed-in tariff programme and will be contracted for a 20-year period. WPD is also developing another offshore wind project in Taiwan, the 350 MW Guanyin offshore wind project, which is also expected in 2021.

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 to be completed between 2021 and 2025.

 

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