International law firm Berwin Leighton Paisner (BLP) has advised Macquarie Capital on the introduction of EnBW Energie Baden-Württenberg AG (EnBW) to its partnership with Swancor Renewable to jointly develop three offshore wind projects in Taiwan.
As reported earlier, EnBW agreed to buy a 37.5 percent stake in the Formosa III project comprising three offshore wind farms with a combined capacity of around 2GW.
Completion of the transaction is subject to a number of conditions precedent, including Taiwan Investment Committee approvals.
The three projects have received the necessary approvals from Taiwan’s Environmental Protection Administration (EPA). The partners will now focus on securing grid connection capacity for the Formosa III projects in the Changhua region.
Marius Toime , who led the BLP team advising Macquarie, said: “Taiwan has profound wind energy resources and the successful development of the Formosa III projects will not only contribute to Taiwan’s Thousand Wind Turbines strategic programme but also provide important opportunities for the national wind energy supply chain.”
Taiwan has set a target of 5.5 GW of offshore wind power to be ready by 2025, with the allocation of the necessary grid connection capacity planned for the first half of 2018.