Taiwan Offshore Wind Expansion: Ørsted Advances 920 MW Wind Farm Complex off Changhua Toward Completion

Fredericia – Danish energy group Ørsted has celebrated the completion of construction on its second gigawatt-scale offshore wind complex off the coast of Taiwan. With the addition of the Greater Changhua 2b and 4 wind farms, the existing Changhua offshore wind cluster reaches a new capacity milestone.

The project comes as Taiwan significantly raises its offshore wind targets. According to an expansion plan presented by the Ministry of Economic Affairs in July 2026, installed capacity is targeted to reach 24.7 to 27.9 GW by 2039, up from around 4.9 GW currently. The Changhua offshore wind cluster is among the largest building blocks in this development to date.

Construction Completion off Changhua: Ørsted and Partners Mark Milestone in Taichung

The ceremony marking the completion of major construction works on the 920 MW Greater Changhua 2b and 4 wind farms was held at Ørsted's operations and maintenance hub at the Port of Taichung. Guests included Taiwan Premier Cho Jung-tai, Cathay Life President Abel Lin, and Ørsted Group President and CEO Rasmus Errboe.

Ørsted has been active in Taiwan's offshore wind sector since 2016. Cho Jung-tai praised the company's long-standing commitment, highlighting in particular its use of new technologies, the development of local talent, cooperation between industry and academia, and its contribution to green financing. Errboe described the completion as "a significant milestone" for the group's strategy and its global offshore wind business. The company currently has 8.1 GW of offshore wind capacity under construction worldwide.

According to Ørsted, the wind farms are the first in the Asia-Pacific region to use suction bucket jacket foundations — a pile-free technology — on this scale. Chief Construction Officer Patrick Harnett highlighted the technical complexity and the implementation of this foundation technology as a notable achievement. Full commercial operation is expected in late Q3 2026.

Cathay Life Expands Stake: Taiwanese Insurer Invests Twice in Ørsted Wind Farms

The 583 MW Greater Changhua 4 wind farm is already jointly owned by Ørsted and Cathay Life Insurance in equal shares. The second part of the current 920 MW construction project, the 337 MW Greater Changhua 2b wind farm, together with the already operational 295 MW Greater Changhua 2a wind farm, forms the 632 MW Greater Changhua 2 wind farm. Ørsted has agreed with Cathay Life Insurance and its affiliate Cathay Power that Cathay will acquire a 55 percent stake in Greater Changhua 2. The transaction is expected to close upon commercial operation in late Q3 2026.

According to Abel Lin, the investment demonstrates that Taiwanese insurance capital is capable of participating in large-scale renewable energy infrastructure projects. Financing for the overall project was supported by 30 domestic and international financial institutions, according to Ørsted.

The wind farms supply power to Taiwanese semiconductor manufacturer TSMC under a power purchase agreement signed in 2020, which was named as the customer in an earlier Ørsted statement. The current statement does not name the company. According to Ørsted, it is the first power purchase agreement of its kind in Taiwan for the semiconductor industry.

With Greater Changhua 2b and 4, Ørsted continues to expand its position in the Asia-Pacific region. Once fully operational, the Changhua offshore wind cluster will reach 1.82 GW, enough, according to the company, to supply around two million Taiwanese households.

Taiwan's Offshore Wind Expansion: Government Relies on Regular Tender Rounds

For 2035, the Taiwanese government is targeting offshore wind capacity of 18.3 to 19.9 GW, significantly above the previous target of 10.9 GW by 2030. Going forward, tender rounds of around 8 GW each are to be held every four years; the current round, 3.3, offering up to 3.6 GW, launched in April 2026. According to the ministry, the expansion is also intended to meet rising electricity demand from the semiconductor, AI, and technology sectors, which is expected to grow by around 2.5 percent annually between 2026 and 2035.

RENIXX Share Price: Ørsted Stock Rises Sharply on Day of Ceremony

Ørsted shares were trading at EUR 18.68 this morning (September 1, 2026), up 3.09 percent from the previous day's close of EUR 18.12. Since the start of the year, the Ørsted share price has risen 15.7 percent from EUR 16.14 (closing price December 30, 2025).

Source: IWR Online, 01 Sep 2026