Renewable

November 3 (Renewables Now) - Ørsted A/S (CPH:ORSTED) said today it has completed the divestment of a 50% stake in the 605-MW Greater Changhua 1 offshore wind project in Taiwan.

The Danish energy group sold the stake to Caisse de depot et placement du Quebec (CDPQ) and Taiwanese private equity fund Cathay PE under a deal announced in December 2020.

The two new partners will finance half of the payments under the engineering, procurement and construction (EPC) contract, which covers both the generation and transmission assets. The total value of the transaction of TWD 75 billion (USD 2.7bn/EUR 2.3bn) is payable over 2021 and 2022, according to last year’s announcement.

Greater Changhua 1 is part of the 900-MW Greater Changhua 1 & 2a offshore wind farm, which is expected to be completed in 2022.

Separately, Ørsted said on Tuesday that the first 100% made-in-Taiwan wind turbine jacket foundation for Greater Changhua 1 & 2a has been completed by Sing Da Marine Structure (SDMS), a subsidiary of China Steel Corporation (TPE:2002). The jacket foundation marks a milestone for the Danish company in Asia Pacific in building local manufacturing capabilities from scratch, it added.

(TWD 10 = USD 0.359/EUR 0.310)