Macquarie’s Green Investment Group (GIG) has confirmed financial close for Taiwan’s Formosa 2 offshore windfarm and awarded the contract for the turbines for the project
Formosa 2 will be jointly developed by Macquarie Capital (75%) and Swancor Renewable Energy (25%). GIG will now play a key role in delivering the project through its construction phase.
The 376-MW project off the coast of Miaoli will utilise 47 Siemens Gamesa 8-MW turbines.
Total funding for the project of NT$62.4Bn (US$2.0Bn) will be financed by a consortium of 20 international and local Taiwanese financial institutions. GIG said the significant interest shown by the financial consortium has demonstrated the attractiveness of the Formosa 2 project and the potential of offshore wind in Taiwan. The financing will be used to support the development and construction of the project.
GIG’s global head Mark Dooley said, “This project marks another important step in Taiwan’s renewable energy transition. GIG is committed to supporting Taiwan in achieving its green energy ambitions and, together with Formosa 1 and Formosa 3, our projects could deliver up to 2.5 GW of offshore wind energy.”
The project will use Siemens Gamesa’s SG 8.0-167 DD offshore wind turbine. Construction is expected to begin in 2020. The windfarm is close to the site of the first commercial offshore windfarm in Taiwan, Formosa 1, which also uses Siemens Gamesa turbines.
The firm order for the Formosa 2 project takes Siemens Gamesa’s order backlog in Taiwan to close to 2 GW.