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April 5, 2019updated 08 Nov 2021 5:06am

Starwind Offshore acquires stake in Taiwan wind power project

Japanese consortium Starwind Offshore has acquired a 27% stake in Yunneng Wind Power, which is involved in construction and operations of an offshore wind farm in Taiwan, from German wind farm developer wpd group.

Japanese consortium Starwind Offshore has acquired a 27% stake in Yunneng Wind Power from German wind farm developer wpd group.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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Starwind Offshore consortium was established jointly by JXTG, Sojitz, Chugoku Electric Power, Chudenko Corporation and Shikoku Electric Power.

With this deal JXTG has acquired a 6.75% stake in Yunlin Holdings, the holding company of Yunneng.

This deal is a first for JXTG’s  in the power generation and offshore windfarm business in Taiwan.

By the end of 2021 Yunneng plans to build a 640MW offshore wind farm in Yunlin County and sell the clean energy to Taiwan Power Company for a period of two decades through a feed-in tariff scheme under Taiwan’s Renewable Energy Development Act.

“Once operational, this project will support Taiwan’s plan to generate 5.5GW of offshore wind power by 2025 along the west coast of the region.”

Once operational, this project will support Taiwan’s plan to generate 5.5GW of offshore wind power by 2025 along the west coast of the region.

With this investment JXTG plans to gain expertise in the offshore wind power sector, which holds great potential in Taiwan as well as in other parts of the globe.

The deal will also enable the Japanese firm to contribute towards a low-carbon society.

Last November, the Taiwanese government set ambitious renewable energy targets to be met by 2025.

Attractive feed-in tariffs, a stable regulatory framework and the country’s strategic location have seen foreign firms keen to invest in this burgeoning market. The west coast of Taiwan has been designated as the development area for offshore wind power.

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Free Report
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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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