JERA Joins Taiwan, UK Offshore Wind Projects
Japanese energy group JERA joined in the Formosa 1 offshore wind power project in Taiwan and Gunfleet Sands offshore wind power project in the U.K.
JERA has entered into an agreement with Macquarie Capital and Swancor to acquire a combined 32.5% equity interest in the Formosa 1 offshore wind power project, located off the north-western coast of Taiwan. The transaction remains subject to regulatory approvals.
The 128MW Formosa 1 project represents Taiwan’s first utility-scale offshore wind farm. The first phase of 8MW has been successfully operated for over 18 months, with the additional 120MW under construction expected to start operations in late 2019. The project has secured the support of Taiwan Power Company under a 20-year Power Purchase Agreement based on the FIT (Feed in Tariff) scheme.
To date, Macquarie Capital, Swancor and Ørsted have used their knowhow and experience in Europe and Taiwan to develop the project. Macquarie Capital and Swancor will continue as shareholders, and the four shareholders together will focus on achieving to start operations of the first offshore wind farm in Taiwan by the end of 2019.
The Gunfleet Sands project has 172.8MW of installed capacity, and is located off the coast of Essex County, the southeastern part of the U.K. It consists of 48 fixed-bottom offshore wind power generators and began operations in April 2010.
Ørsted A/S is a partner in the Gunfleet Sands project and is the global market leader in offshore wind power, holding the world’s largest market share. JERA will work together with Ørsted, as well as the Development Bank of Japan which already participates in the project.