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Siemens Gamesa's Offshore CEO Andreas Nauen and Swancor's Chairman Robert Tsai have signed two agreements in Taiwan: the first one focused on bringing additional local content to Taiwan's offshore wind industry, followed by a memorandum of understanding (MoU) on the Formosa II offshore wind project.
Swancor aims to have 520MW of offshore wind installed in Taiwanese waters by 2020 and reach 2.6GW by 2025, according to its latest press release.
Taiwan-based offshore wind developer Swancor Holding plans to secure the funds necessary for the full development of the Formosa I offshore wind projects through financing deals with banks in the second quarter of 2018, according to local media.
Swancor and TIPC Marine Corporation, part of Taiwan International Ports Corp. (TIPC), have entered a joint venture to develop, construct, operate and maintain offshore wind farms.
The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of joint control over Formosa 1 International Investment of Taiwan by DONG Energy, Australia's Macquarie and Swancor Holding of Taiwan.