Japan's JERA Enters Offshore Project in Taiwan

After the transaction, JERA will hold 43.75% of the shares in Formosa 3. Both Macquarie’s Green Investment Group and EnBW retain substantial stakes of 31.25% and 25% respectively and remain closely involved in the project’s development.

The Formosa 3 Offshore Wind Farm will be installed in the Changhua region off the central western coast of Taiwan with a total potential output of 2,000 megawatts which will make it the biggest offshore wind farm in the world. GIG and EnBW have developed the project to date and are currently preparing to take part in Taiwan’s next auction round for the award of grid capacity in 2020. JERA has already been involved in the Formosa 1 and 2 development.

Mark Dooley, Global Head of Green Investment Group: “GIG and JERA have established a strong and successful relationship in Taiwan’s offshore wind market, and we are delighted to further deepen that partnership through Formosa 3. Partnership working is key to GIG’s development approach, bringing together international and local expertise to support local economies and create world class developments. Taiwan is fast becoming Asia’s foremost offshore wind market, and we are extremely proud that our Taipei based team are playing a key role in Taiwan’s green energy transition.”