Corio, Jera ready Formosa 3 for Taiwan offshore wind auction

Corio Generation, a portfolio company of Macquarie Group Ltd’s (ASX:MQG) Green Investment Group (GIG), and Japanese utility Jera Co Inc plan to take part in Taiwan’s upcoming offshore wind auction round in the third quarter of 2022 with their Formosa 3 project, Corio said today.

Formosa 3 is located off the coast of Changhua in central-west Taiwan and consists of three sites -- Haiding I, Haiding II and Haiding III. The project secured Environmental Impact Assessment (EIA) approval in 2018, with its EIA-approved capacity being around 2 GW.

Jera became a shareholder in the project in 2020, taking a 43.75% stake from GIG and EnBW.

Taiwan is due to connect 5.5 GW of offshore wind by 2025 and the government aims to allocate seabed rights for a further 15 GW in the 2026-2035 period, Corio noted.

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