Hai Long Secures Financing with 11 New Banks Joining

The Hai Long offshore wind project in Taiwan has secured TWD 55 billion (nearly EUR 1.5 billion) in incremental financing, with eleven banks joining its financing structure for the first time.

The additional financing has been arranged within the project’s existing project finance framework and involves 17 financial institutions. Six existing lenders increased their commitments, while the eleven new participants comprise Taiwanese state-owned and commercial banks as well as international lender Société Générale.

The new lenders are Mega International Commercial Bank, Chang Hwa Commercial Bank, The Export-Import Bank of the Republic of China, Hua Nan Commercial Bank, Land Bank of Taiwan, Taiwan Business Bank, Taiwan Cooperative Bank, Taichung Commercial Bank, Bank of Panhsin, Entie Commercial Bank and Société Générale.

The six existing lenders increasing their commitments are Taipei Fubon Commercial Bank, HSBC, Crédit Agricole Corporate and Investment Bank, CTBC Bank, DBS Bank and King’s Town Bank.

The financing also includes the participation of Taiwan’s National Credit Guarantee Administration (NCGA), alongside the project’s seven existing export credit agencies and lending syndicate. The total number of financial institutions supporting Hai Long has now increased to 35.

Hai Long is being developed by a consortium comprising Mitsui & Co., Northland Power and Gentari.

Located approximately 45 to 70 kilometres off Changhua County, the project will comprise 73 wind turbines with a combined capacity of more than 1 GW, across three phases.

The first phase, Hai Long 2A, features 21 Siemens Gamesa 14 MW turbines and was completed and grid-connected at the end of 2025. All 16 turbines of the same model were also installed on Hai Long 2B last year.

Construction is progressing on Hai Long 3, which will comprise  36 Siemens Gamesa 14 MW wind turbines, towards completion and grid connection by the end of 2026, according to the developer.

Once operational, Hai Long is expected to generate enough electricity annually to supply more than one million Taiwanese households.

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