Japanese power group JERA has become the biggest shareholder in Formosa 3, the largest offshore wind farm planned off Taiwan with a potential capacity up to 2GW.
JERA owns 43.75% of Formosa 3 after deals with existing stakeholders Macquarie’s Green Investment Group (GIG) and German utility EnBW, which will now hold 31.25% and 25% respectively. Financial terms were not disclosed.
The Japanese group had already done deals to join GIG for the Formosa 1 and 2 projects that are operating and in construction respectively.
The shareholders plan to enter Formosa 3 in the next round of Taiwanese capacity allocation that’s expected later this year, said a statement.
Dirk Güsewell, head of generation portfolio development at EnBW said: “EnBW is looking forward to JERA joining us in the Formosa 3 project. We are convinced that Formosa 3 will benefit from JERA’s local expertise and experience as project partner of Formosa 1 and 2.
“EnBW has more than 10 years’ experience in offshore wind energy, being a pioneer and driving force in Germany. Together with our partners, we aim to develop Taiwan’s largest offshore wind farm.”
Formosa 3 is one of a clutch of projects backed by major international players tipped to vie for capacity in the next Taiwanese round, which will see the country start to allocate 10GW under the third stage of its huge offshore wind programme that has already put 5.5GW in train by 2025.
Underpinned by the re-election of Taiwan’s pro-offshore wind president in January, the new round is set to bring new international energy players to the island’s sector, Recharge reported.
JERA – which also has a foothold in the UK sector – has previously said it regards international participation as a way to prepare for a role in domestic Japanese offshore wind, which is set to be among the next wave of global markets to take off.
