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JERA takes almost 44% in Taiwan's Formosa 3 offshore wind project

Formosa I Phase II in Taiwan. Image by: ├śrsted A/S.

March 9 (Renewables Now) - Japanese energy supplier JERA Co Inc is taking a 43.75% stake in the up to 2-GW Formosa 3 offshore wind project in Taiwan, leaving 31.25% and 25% to developers Green Investment Group (GIG) and EnBW, respectively.

German energy company EnBW Energie Baden-Württemberg AG announced the transaction today. It and GIG, part of Macquarie Group Ltd (ASX:MQG), will remain closely involved in the project’s development. They are preparing for this year’s auction round in Taiwan to secure grid capacity for the huge offshore wind farm in the Changhua region.

JERA, a joint venture between TEPCO Fuel & Power and Chubu Electric Power, is also a shareholder in the Formosa 1 and 2 projects. The second phase of the 128-MW Formosa 1 offshore wind complex reached commercial operations at the start of 2020, while the 376-MW Formosa 2 scheme is currently under construction.

The Taiwanese government announced at the very end of 2019 a 7.64% reduction of the offshore wind feed-in tariff (FiT) for newly-contracted projects.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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