Pine Wind Power Co., Ltd (Pine Wind) has agreed to purchase a 26 per cent equity and debt stake in the 376 MW Formosa 2 offshore wind farm in Taiwan from Macquarie Asset Management.
The proposed investment will be acquired through J&V Energy’s wholly owned subsidiary, Pine Wind, and will be supported by capital commitments from its partners, Taiwan Life Insurance and He Jun Energy.
As part of the transaction, JV Asset Management (JVAM), a J&V Energy affiliate, will provide long-term asset management services to its partners.
“Formosa 2 Offshore Wind Farm represents a compelling scale opportunity for J&V Energy to secure long-term contracted cashflows with Taipower and demonstrates our continuing commitment to Taiwan’s energy transition ambitions. We look forward to joining JERA and Synera Renewable Energy in delivering lasting operational success for the asset,” said Kai Tan , Deputy CEO of J&V Energy.
This transaction represents J&V Energy’s first investment in an operational offshore wind farm in Taiwan, following its prior involvement in the development and investment of wind farms in the region, including Formosa 4 and Formosa 5 , as well as the Huan Yang Offshore Wind Farm.
Macquarie developed Formosa 2, one of Taiwan’s first large-scale offshore wind farms, in partnership with JERA and Synera Renewable Energy.
The project comprises 47 Siemens Gamesa 8.0 MW wind turbines, which have been connected to the grid since March 2023.
Located 4-10 kilometres off the coast of Zhunan Township, Miaoli County, Formosa 2 will generate enough electricity to power the equivalent of approximately 380,000 households.
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