trending Market Intelligence /marketintelligence/en/news-insights/trending/7tbga6n3_q1aym703wt7za2 content esgSubNav
In This List

Investment group closes NT$18.7B financing for 128-MW Taiwanese wind farm

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


Investment group closes NT$18.7B financing for 128-MW Taiwanese wind farm

A consortium of international and Taiwanese banks have completed the NT$18.7 billion, 16-year project financing for the 128-MW Formosa 1 offshore wind farm in Taiwan.

Ørsted A/S owns 35% of the wind farm, a joint venture, while the Taiwanese wind developer Swancor Renewable owns 15%, and Macquarie Group Ltd. owns the remaining 50%.

The second phase of the Formosa 1 wind project is scheduled for construction in 2019 and will comprise 20 wind turbines with 6-MW capacity each, according to a June 8 news release. Siemens Gamesa Renewable Energy will supply the wind turbines for the offshore power plant. The facility, located near Miaoli coast in Northwestern Taiwan, will generate 120 MW. The first phase of the project consists of two 4-MW wind turbines, adding 8 MW to the grid.

Local banks in the financial consortium are Cathay United Bank, Taipei Fubon Commercial Bank, EnTie Commercial Bank and KGI Bank. International banks financing the project are ANZ Banking Group, BNP Paribas, Crédit Agricole Corporate and Investment Bank, DBS Bank, ING Bank, MUFJ Bank, Société Générale, as well as EKF, Denmark's export credit agency.

As of June 7, US$1 was equivalent to NT$29.74.