Green Giraffe and Cathay United Join Taiwanese Offshore Wind Project

Illustration.

Green Giraffe has been mandated as lead international financial advisor alongside Taiwan’s Cathay United Bank for the Hai Long 2 &3 offshore wind projects in Taiwan.

Located in the Taiwan Strait, the projects could reach around 1GW and are owned by Yushan Energy (40%) and Northland Power (60%).

The projects have successfully passed the environmental impact assessment (EIA) in 2017 and will participate in the Taiwanese selection process and submit an application on March 30, 2018 with the aim to receive a feed-in-tariff and grid connection.

John Pires, Vice President, Head of M&A and Project Finance at Northland Power Inc., said: ”Along with our partner Yushan Energy Co. Ltd., we feel that Green Giraffe’s extensive offshore wind project finance experience, coupled with Cathay United Bank’s strong Taiwan banking knowledge, is an exceptional partnership that will position the Hai Long 2 and Hai Long 3 projects to succeed in Taiwan.”

These projects would directly contribute to Taiwan’s goal to develop up to 5.5 GW of renewable energy by 2025.

Tsung-hua Chen, Chief Executive Officer, of Yushan Energy, said: ”Each of Green Giraffe and Cathay United Bank are leaders in their fields, with impressive experience, strong professionals and a track record of success. Together with our partner Northland Power Inc., we look forward to working with Green Giraffe and Cathay United Bank to bring the Hai Long 2 and Hai Long 3 projects long-term success in Taiwan.”

The Hai Long wind projects are located some 50 kilometres offshore Changhua County on the west coast of Taiwan in water depths of 30 to 50 metres.

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