Ørsted has selected Cathay Life Insurance as preferred bidder for 50 % ownership share in Greater Changhua 4

Ørsted and Cathay Life Insurance have agreed to an exclusivity period lasting until 17 January 2024, during which both parties will finalise negotiations of the transaction documents and confirmatory due diligence.

Under the Taiwan Stock Exchange disclosure rules, Cathay Life Insurance is required to make a public announcement upon being selected as preferred bidder.

Subject to signing of the transaction, the completion of the divestment will be subject to regulatory approvals from the Taiwanese authorities.

In total, Greater Changhua 2b and 4 will have a capacity of 920 MW, and Ørsted took final investment decision (FID) on these projects earlier this year. The wind farms are under construction and expected to be completed by the end of 2025.