Corporate advisory, capital markets and principal investment division of Macquarie Group, Macquarie Capital, has announced it has made a final investment decision for 50 per cent ownership in the second phase of Taiwanese offshore wind farm Formosa I.
Courtesy of Swancor Renewable
The 128 MW Formosa I project is Taiwan’s first utility-scale offshore wind farm, the first 8 MW of which has been operating successfully for over 12 months. The second 120 MW phase is due to be completed in late 2019. The project has secured the support of Taiwan Power Company under a 20-year Power Purchase Agreement.
“Macquarie Capital is dedicated to supporting the growth of the global green economy, we are pleased to partner with Swancor Renewable and Ørsted in developing the Formosa I offshore windfarm and leading its financial close” said Hajir Naghdy, Head of Macquarie Capital in Asia.
Ryan Chua, Head of Macquarie Capital in Taiwan, added that Macquarie Capital has extensive experience in the renewable energy sector globally, complemented by the depth of its specialist financial and technical capabilities.
Formosa I is being jointly developed by Macquarie Capital (50 per cent), leading Taiwanese developer Swancor Renewable (15 per cent) and Ørsted (35per cent). Siemens Gamesa and Jan de Nul have been awarded turbine and foundation and cabling contracts respectively. Fortune Electric was awarded with upgrade works on the onshore substation in Miaoli County.
Image: Formosa I offshore wind farm (Courtesy of Swancor Renewable)