04/21/2020

EGCO Group Completed Acquisition of 25% Stake in Taiwan’s Offshore Wind Farm Project

Electricity Generating Public Company Limited or EGCO Group revealed the successful completion of the acquisition transaction of a 25% ownership interest in Yunlin Holding GmbH which owns the 640MW Yunlin offshore wind farm project in Taiwan.

Dr. Gumpanart Bumroonggit, Senior Executive Vice President – Strategy & Asset Management and Acting President of EGCO Group, stated that “Greenwing Energy B.V., a wholly owned subsidiary of EGCO, successfully completed the acquisition of a 25% ownership interest in Yunlin Holding GmbH (“Yunlin”) from Taiwan Offshore Holding GmbH on April 17, 2020.”

Yunlin is a holding company which owns 100% of Yunneng Wind Power Co., Ltd. of Taiwan (the “Project Company”). The Project Company is constructing a 640MW offshore wind farm which will be situated in the Taiwan Strait approximately 8 km west of the coast of Yunlin County in Taiwan and covers an overall area of approximately 90 square kilometers. Commissioning of the Project will occur in phases, with phase 1 comprising 352MW scheduled for completion in the 4th quarter of 2020, and phase 2 comprising 288MW scheduled for completion in the 3rd quarter of 2021.

Dr. Gumpanart added, “Amid the current COVID-19 outbreak, EGCO Group has continually and efficiently operated its business, following the implementation of our Business Continuity Plan. This is to ensure our operation throughout the supply chain without any interruption. In the meantime, EGCO Group’s 28 operating power plants in domestic and overseas are still in operation to deliver reliable electricity to all people. We stand ready to collaborate with the public sectors and various organizations at our full capabilities to overcome this difficult situation.”