Synera Renewable Energy Group (SRE Group) has signed a long-term corporate power purchase agreement (CPPA) with Taiwan Smart Electricity & Energy (TSEE) for the 495MW Formosa 4 offshore wind project.
The Formosa 4 CPPA will allocate a fixed portion of the project’s generation to TSEE once the grid connection is achieved.
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Following grid connection, TSEE will trade the green electricity via its platform, providing companies with access to renewable energy as they work towards decarbonisation goals.
The agreement aims to meet the growing demand for green electricity among businesses in Taiwan.
SRE chairperson Lucas Lin said: “Offshore wind is widely recognised as a critical source of large-scale, reliable clean energy. We are pleased to partner with TSEE. This mutually beneficial agreement provides long-term revenue certainty and strengthens Formosa 4’s financial foundation, while making stable, reliable renewable power accessible to a broader range of corporate offtakers.
“This is essential for these businesses to maintain operational resilience, enhance competitiveness, and progress toward their sustainability goals.”
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By GlobalDataSRE secured the Formosa 4 wind farm in the first auction round of the third-phase zonal development in 2022.
The project received its establishment permit in late 2024, making it the first among all round-one winners to do so.
Upon completion, the wind farm is projected to generate enough clean energy to power about 500,000 households each year.
Located 18km-20km off the coast of Miaoli County, Formosa 4 has a maximum potential capacity of 1,104MW.
Earlier in September this year, SRE selected Siemens Gamesa to provide 35 of its 14MW wind turbines for the Formosa 4 project.
