The project will be financed using capital provided by the Ørsted Group and debt capital sourced from the domestic Taiwanese market. Credit: Nicholas Doherty on Unsplash.

Danish energy company Ørsted has taken the final investment decision (FID) and is now ready to build its 920MW Greater Changhua 2b and 4 offshore wind farms in Taiwan.

Located between 35km and 60km off the Changhua coast, the two offshore facilities have received all the required environmental impact assessment permits.

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Onshore construction works for the two projects are slated to start in 2023, and fabrication of components is planned for 2023-24.

The Danish firm has set a target to complete the offshore facilities by the end of 2025.

Ørsted Asia Pacific (APAC) president Per Mejnert Kristensen said: “Today’s positive investment decision demonstrates that Ørsted is primed and ready to build and operate large-scale offshore wind projects in Taiwan.

“Our experience in the Asia Pacific region, combined with our technical expertise, financial capabilities and close collaboration with stakeholders, gives us full confidence that we will fulfil our commitments to the grid contract with the Taiwan authorities and the CPPA with TSMC.

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“This final investment decision is a major step forward for our mission to accelerate the Asia Pacific’s decarbonisation journey.” 

Ørsted secured the 920MW offshore wind projects via Taiwan’s first competitive price-based auction in June 2018.

In July 2020, it signed a corporate power purchase agreement (CPPA) with Taiwan Semiconductor Manufacturing Company Limited (TSMC).

The project will be financed using capital offered by the Ørsted Group, as well as by debt capital sourced from the domestic Taiwanese market.

Ørsted Taiwan general manager Christy Wang said: “In dynamic market conditions, our highly capable teams have overcome challenges from site conditions, infrastructure, project engineering and procurement to bring the Greater Changhua 2b and 4 projects to a successful final investment decision.

“We are proud that the projects will implement the latest environmentally friendly technology of suction bucket jacket foundations for the first time in the Asia Pacific.

“With support from our suppliers and stakeholders, the Ørsted team is ready to open a new chapter for offshore wind in Taiwan, in harmony with nature and communities.” 

Last month, Ørsted and Eversource Energy filed their joint proposal to develop the Revolution Wind II offshore wind farm in Rhode Island, US.