Taiwanese 376 MW Formosa 2 Offshore Wind Project Set for Launch
Edinburgh, UK / Zamudio, Spain - The launch of the 376 megawatts (MW) Formosa 2 offshore wind farm project in Taiwan took a step closer to construction following the firm order from partners Macquarie’s Green Investment Group (75 percent) and Swancor Renewable Energy (25 percent), who jointly developed the wind farm.
Total funding for the project of NT$62.4 bn, will be financed by a consortium of 20 international and local Taiwanese financial institutions. The significant interest shown by the financial consortium has demonstrated the attractiveness of the Formosa 2 project and the offshore wind potential in Taiwan. The financing will be used to support the development and construction of the project.
“We are pleased to announce a positive investment decision and that we are now ready to commence construction of the Formosa 2 offshore wind farm,” says Kimberly Cram, Project Director of Formosa 2.
According to Siemens Gamesa, the firm order for the Formosa 2 project takes SGRE’s order backlog in Taiwan to close to 2,000 MW. This latest wind park will be one of the first projects of the Taiwanese government’s zonal development program. This initiative was launched to promote a 5,500 MW offshore wind build-out by 2025.
Source: IWR Online, 30 Oct 2019