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April 27, 2018

Ørsted to invest in Formosa 1 phase 2 offshore wind farm

Danish power company Ørsted has agreed to make a final investment in the second phase of the Formosa 1 offshore wind farm in Taiwan.

Danish power company Ørsted has agreed to make a final investment in the second phase of the Formosa 1 offshore wind farm in Taiwan.

Located in Chunan Town, Miaoli County on Taiwan’s northwestern coast, the second phase will see an installation of 20 offshore wind turbines with a total capacity of 120MW, which will be added to Formosa 1’s 8MW capacity.

Established in January last year, Formosa 1 is a joint venture (JV) project between Ørsted (35%), Swancor Renewable (15%) and Macquarie Capital (50%).

The JV is expected to make its final investment decision about Formosa 1 phase 2 by next month.

Formosa 1 is reported to be Taiwan’s first offshore wind project, and the first phase of the project has been operational since last April.

“Formosa 1 is the first offshore wind project being realised by Ørsted in Asia together with its partners.”

Ørsted Asia Pacific general manager Matthias Bausenwein said: “We’re committed to the Taiwanese market and to the government’s offshore wind plans.

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“Ørsted has shared its vast professional experience and expertise in offshore wind and thereby contributed significantly to bringing this project to the next stage and ensuring that it can be built in 2019.”

The Danish energy firm is said to have supported Formosa 1 phase 2 in many aspects, including project financing, technical design, procurement, project quality management plans, construction,  operations and maintenance planning.

For the Formosa 1 phase 2 project, Siemens Gamesa has been selected to supply 20 6MW turbines and a full-service agreement for a period of 15 years.

Formosa 1 has also signed a contract with Taiwan’s Fortune Electric for an upgrade of the existing onshore substation.

The contracts signed for Formosa 1 and Formosa 1 phase 2 are subject to the JV’s final investment decision and financial close.

Bausenwein added: “Formosa 1 is the first offshore wind project being realised by Ørsted in Asia together with its partners.

“Through intensive engagement with local stakeholders, suppliers, and financial communities, we have shared our expertise and at the same time gained valuable insight to prepare us for building large-scale offshore wind farms in the Greater Changhua region.”

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