French energy and petrol company TotalEnergies has partnered with renewable energy firm Corio Generation to develop the Formosa III offshore wind farm in Taiwan.
Corio will remain the majority stakeholder and lead developer in the offshore wind facility, owning 50% plus ten shares overall in it.
Corio Generation CEO Jonathan Cole said: “We are thrilled to welcome TotalEnergies as our partner in building offshore windfarms in Taiwan.
“Our two companies have a longstanding relationship and strong track record in developing projects across Europe and Asia-Pacific and so we are absolutely delighted to be working together again in Taiwan.
“The Formosa III wind farms will support job creation and provide many opportunities for local businesses to participate in the green energy transition.”
Located in Changhua county on Taiwan’s central-western coast, the Formosa III project includes three proposed windfarms, namely Haiding I, II and III.
Formosa III obtained Environmental Impact Assessment (EIA) approval in 2018, with an EIA-approved capacity of around 2GW.
Last December, Taiwan’s Bureau of Energy awarded 600MW of grid capacity to Formosa III’s Haiding II wind farm following the first phase of Taiwan’s Round III auctions.
In addition to Formosa III, TotalEnergies and Corio have partnered to develop several other wind power projects in the UK and France.
TotalEnergies Renewables senior vice-president Vincent Stoquart said: “We are very pleased to team up again with our strategic partner Corio, this time to develop offshore wind in Taiwan.
“This marks a new step toward supporting Taiwan’s energy transition, bringing sustainable, low-cost energy to the country.
“It also demonstrates our dedication to build up our global multi-energy business model through a series of investments to grow our worldwide renewable portfolio from 17GW in 2022 to 35GW in 2025, in line with our ambition to be one of the top five renewables developers by 2030.”