With this milestone, the ready-to-build Formosa 4 now calls for support from the government and local financial institutions to align credit support and project financing — critical to commencing construction and accelerating renewable energy deployment required for Taiwan’s sustainability goals and economic development.
Following the corporate power purchase agreement (CPPA) concluded with Taiwan Smart Electricity & Energy in early December, Formosa 4 has recently closed two additional CPPAs for the remainder of its output — one with a top-tier company and the other with a power services provider — securing full offtake.
Lucas Lin, Chairperson at SRE, stated: “We are delighted to see Formosa 4 reach such a significant milestone in its CPPAs. This achievement signals Taiwan’s urgent need for renewable energy, and we are proud to support local export-oriented industries with large-scale offshore wind power that strengthens their global competitiveness.”
“We look forward to working under the government’s guidance to swiftly advance project financing. The government’s support to accelerate financing and credit guarantees is pivotal in enabling the project to commence construction and ensuring the timely delivery of green power essential for our corporate partners’ decarbonization goals and Taiwan’s sustainable future,” Lin added.
Formosa 4, planned off the coast of Miaoli County, secured capacity in Phase 3’s first auction round in 2022 and obtained its establishment permit in late 2024, becoming the first of its cohort to reach this milestone. Once completed, the wind farm is expected to generate approximately 2 billion kWh of green electricity annually.
