The Ministry of Economic Affairs of Taiwan has approved the financial restructuring of the 640-megawatt (MW) Yunling Offshore Wind Farm Project.
Project operator Yuneng Wind Power Co., Ltd. has announced the financial restructuring in August 2023. The 640 MW project is expected to be completed in 2024.
It may be noted that the project is funded by Skyborn Renewables and its investment partners Total Energies and EGCO Group, and Japan’s Sojitz Corporation. As per the reports, its financing group, which includes over 20 domestic and foreign specialized banks and export credit agencies, has not changed since the initial funds were received.
Tianfeng New Energy CEO Thomas Karst informed that 34 of the 80 wind turbines have been installed so far. “The electricity to be generated from the project will be supplied to the Taiwan Electric Power Company under two 20-year power purchase agreements, ” he said.
As per the firm, the wind farm can generate power that can meet the needs of over 600,000 households. Offshore wind farms are slowly aiding in the growth of renewables in the South Asian country.
Earlier, in August 2023, Taiwan-based CDWE (CSBC-DEME Wind Engineering) has completed the installation of the first jacket of the Zhong Neng offshore wind farm in Taiwan. Located off the western coast of Changhua. Zhong Neng Offshore Wind Project is a 300MW project, co-owned by China Steel Corporation, Taiwan’s state-owned and largest integrated steel maker, and a renewable energy infrastructure fund managed by Copenhagen Infrastructure Partners.
