Wpd Puts Taiwanese Offshore Wind Projects on Fast Track

German offshore wind developer wpd has appointed Sumitomo Mitsui Banking Corporation (SMBC) as their financial advisor for its projects in Taiwan.

Image for illustrative purposes. Source: wpd

Wpd already started the procurement process for the 360MW Guanyin and the 700MW Yunlin offshore wind projects in 2017.

Talks with international and especially local banks to be involved in the financing have been started as well, and the plan is to have financial close by the end of 2018, the developer said.

Wpd intends to commission the Guanyin and Yunlin projects in 2020 under the so-called “Fast Track” of phase two of the governmental legislative framework to promote offshore wind energy – part of the governmental offshore wind goal of 5.5 GW to be realized by 2025.

Guanyin and Yunlin are in an excellent position to reach this goal, wpd said.  Guanyin received the required EIA approval as first project in the market and also Yunlin passed the EIA review meeting successfully. Grid connections are already confirmed and plans for onshore substations are finalized.

In order to realize the Taiwanese offshore pipeline, wpd will combine its local presence with its expertise in the development, construction and finance of offshore wind projects.