wpd increases its focus on the Taiwanese offshore wind market

With several contracts, wpd is strengthening its presence and activities in Taiwan and intensifying its focus on this emerging energy market.

Ahead of future tender rounds, wpd signed an agreement with Taiwan Green Power Co, Ltd. (TGP), an offshore wind developer belonging to the Taiwanese LeaLea Group. The partners will jointly develop the offshore wind farm site No. 28, which is expected to be part of the third tender round in Taiwan. The project with a planned installed capacity of up to 600 MW is located off the coast of Changhua in an area with excellent wind conditions. Through its development LeaLea has already received the EIA approval and built up a lot of local support for the project. The joint venture with wpd is expected to be the perfect fit as wpd is known as frontrunner for the involvement of local companies in Taiwan and is overperforming with regards to the localization rules.

A further milestone was reached in the Yunlin project, when Thai Electricity Generating Public Company Limited (EGCO Group) acquired a 25% stake in Yunlin Holding GmbH, owner of the 640 MW Yunlin offshore wind farm, from wpd. As the transaction has now been closed, wpd has again been able to win another solvent and reliable partner for the project in addition to the Japanese Sojitz Group (27%), while wpd remains the largest shareholder in the project. The Yunlin project as one of the largest offshore projects in Asia is located in the Taiwan Strait, about 8 km west of the coast of the Yunlin district. The project will be constructed and commissioned in two phases, phase 1 with the first half to be completed end of 2020 and phase 2 with the second half in the third quarter of 2021. A total of 80 Siemens Gamesa SG 8.0 turbines will produce green electricity there.

Major steps have further been made regarding the 350 MW Guanyin project, wpd’s second offshore project in Taiwan. Here, wpd was able to make the construction schedule more effective and thus saved additional costs in order to comply with the 2020 tariff. Now the project is expected to be installed within one year (2022) and all major supply agreements have been adjusted to support this approach. While the signing of the supply agreements is expected in the next weeks, all is depending on the issuance of the last remaining permits in summer, followed by closing the financing in the fourth quarter of 2020.
“wpd values long-term partnerships and local footprint. In challenging times this becomes even more important and we are happy to strengthen our ties to Taiwan by introducing new investors to the country and by finding new local alliances. Taiwan will remain our key market in Asia.” says Achim Berge Olsen, COO of wpd AG.