One Step Closer: Financial Close for Taiwan’s Formosa 1 OFW

Wind Industry Profile of

Formosa 1, Taiwan’s first offshore wind farm, reached financial close on the 8th of June 2018. A financial consortium of eleven international and local Taiwanese banks as well as EKF, Denmark’s Export Credit Agency has completed this NT$18.7bn 16-year project financing. It is the first project financing in the Taiwanese offshore wind industry.

Formosa 1 is a joint venture between Ørsted (35% ownership), Taiwanese developer Swancor Renewable (15%), and Macquarie Capital (50%). The first phase of the project has been operational since April 2017 and consists of two 4MW offshore wind turbines.  For this project, long-term project financing will be utilized to fund the development, construction, commissioning, testing and operation of phase II and refinance... ... More: Official Press Release Ørsted

Keywords:

Taiwan, offshore, Formosa, Orsted, financial close, Ørsted