Innogy Enters Taiwanese Offshore Wind Market
Essen-based energy company innogy has entered into a strategic partnership with Asia Cement Corporation to jointly develop the 448 MW Chu Feng offshore wind project in Taiwan.
The Chu Feng offshore wind farm is located off the northwest coast of Taiwan near Hsinchu City, in the wind-rich Taiwan Strait. The project is expected to participate in the next grid allocation round in Taiwan.
“The government has plans to considerably increase the role of offshore wind energy in Taiwan’s electricity production,” Sven Utermöhlen, Senior Vice President Renewables Operations Offshore at innogy SE, explained.
”The Chu Feng project will enable us to enter this growing market with a strong local partner at our side, whose local expertise complements our global experience and technical know-how, and who share our ambition to drive the growth of offshore wind in Taiwan.”
Innogy opened a local office in Taipei in 2018 to drive its business in Taiwan and the wider Asia-Pacific region with a target to build up regional knowledge and expertise by joining forces with local partners. The company sees the partnership for the Chu Feng offshore wind project as a perfect strategic fit and another milestone in capturing value accretive growth options in the field of offshore wind.
Henry Wu, the CEO of the Chu Feng Preparatory Office, said: “We are pleased that innogy, with their extensive offshore wind experience, are on board with us in the development of the Chu Feng offshore wind project. The Far Eastern Group is committed to develop green energy to reduce our carbon footprint and support the government in meeting its renewable energy targets, and have ambitions to grow our wind power business in Taiwan.”
The Taiwanese government has set the target of 5.5 GW of operating offshore wind capacity by 2025, as well as an indicative target of between 10 GW and 17 GW of operating offshore wind capacity by 2030.