JERA Buys Majority Stake in Formosa 2
- Wind Farm Update
JERA is set to acquire a 49% equity interest in the Formosa 2 offshore wind farm in Taiwan, the Japanese utility revealed shortly after it had secured joint control over the project with Macquarie and Swancor.
Macquarie will hold a 26% stake and Swancor will hold 25% of the 376MW wind project located offshore Miaoli County in the Taiwan Strait.
The completion of the transaction, which is supported by the Development Bank of Japan, is subject to regulatory approvals.
In association with JERA’s participation in the Formosa 1 project earlier this year, the utility said it has established an operation base in Taiwan to expand business activity and dispatch engineers for the project.
Formosa 2 will comprise 47 Siemens Gamesa 8.0 – 167 turbines installed 4-10km off the coast. The 376MW project is expected to be fully commissioned by the end of 2021 when it will become Taiwan’s largest offshore wind farm.