Synera Renewable Energy Group (SRE) has confirmed that all 495MW of clean energy from its Formosa 4 Offshore Wind Project in Taiwan has now been completely subscribed.
The final allocations were secured through two new corporate power purchase agreements (CPPA), completing the subscription of the project’s full capacity.
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SRE chairperson Lucas Lin said: “We are delighted to see Formosa 4 reach such a significant milestone in its CPPAs.
“This achievement signals Taiwan’s urgent need for renewable energy, and we are proud to support local export-oriented industries with large-scale offshore wind power that strengthens their global competitiveness.”
These follow the CPPA signed in early December with Taiwan Smart Electricity & Energy. The latest agreements cover the remaining volume, with one signed by a “top-tier” company and the other by a power services provider.
With full offtake in place, Synera is urging government bodies and domestic financial institutions to coordinate credit backing and project finance.
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By GlobalDataThe company highlighted these as essential to move into construction and help speed up renewable energy delivery in line with Taiwan’s sustainability ambitions and economic priorities.
Lin added: “We look forward to working under the government’s guidance to swiftly advance project financing.
“The government’s support to accelerate financing and credit guarantees is pivotal in enabling the project to commence construction and ensuring the timely delivery of green power essential for our corporate partners’ decarbonisation goals and Taiwan’s sustainable future.”
Formosa 4 is planned offshore from Miaoli County.
It won capacity in the first auction round of Phase 3 in 2022 and received its establishment permit in late 2024, making it the first project in its group to reach that point.
When operational, the wind farm is expected to produce around 2 billion kWh of green electricity each year.
In August this year, Cadeler entered an agreement with SRE to oversee the transport and installation of 35 Siemens Gamesa 14MW turbines for Taiwan’s Formosa 4 Offshore Wind Farm.
