Orsted to build two wind farms offshore Taiwan

March 31, 2023 04:27 PM AEDT | By Reuters
Follow us on Google News:
Image source: Reuters

OSLO (Reuters) - Orsted has made a final investment decision to go ahead with its planned 920 megawatt (MW) Greater Changhua 2b and 4 offshore wind farms in Taiwan with expected completion by the end of 2025, the Danish energy group said on Friday.

Orsted was awarded the project in June 2018 in Taiwan's first competitive price-based auction, and secured long-term revenues in a corporate power purchase agreement in July 2020 with Taiwan Semiconductor Manufacturing Company Limited.

The offshore wind farms are expected to begin onshore construction in 2023 with fabrication of components in 2023-2024.

The projects will be funded by Orsted's capital as well as debt from the domestic Taiwanese market, backed by an Orsted parent company guarantee.

The company did not say how much it would invest in the wind farms.

(Reporting by Terje Solsvik, editing by Louise Rasmussen)


Disclaimer

The above content is directly sourced from Reuters under a contractual arrangement. The content is being provided as a convenience and for informational purposes only; and does not constitute an endorsement or approval by Kalkine Media of any of the products, services, or opinions of the organization or individual. The user is apprised that Kalkine Media bears no responsibility for the accuracy, legality, or content of Reuters, any external sites, or for that of subsequent links. The user is requested to contact Reuters directly for answers to questions regarding the content. Please note that Kalkine Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.



Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK