Ørsted Wraps Sale of 50% Stake in Greater Changhua 1 Offshore Wind Farm

OE Staff
Wednesday, November 3, 2021

Danish offshore wind farm developer Ørsted has completed the sale of 50% stake in the 605 MW Greater Changhua 1 offshore wind farm in Taiwan.

The agreement to sell half of its stake in the wind farm project to global investment group Caisse de dépôt et placement du Québec (CDPQ) and Cathay PE was first announced in December 2020. It was then said that CDPQ would be the majority owner among the two new partners.

The Greater Changhua 1 site is part of the 900 MW Greater Changhua 1 & 2a Offshore Wind Farm, which Ørsted is currently constructing and expects to finalize in 2022.

Ørsted said in December 2020 that the total value of the transaction was around TWD 75 billion - around DKK 16 billion (USD 3.63 billion) which is to be paid during 2021 and 2022.

As part of the agreement, Ørsted will build the Greater Changhua 1 Offshore Wind Farm under a full-scope EPC contract. Ørsted will also provide long-term operations and maintenance (O&M) services from its O&M base at the Port of Taichung.

Greater Changhua 1 & 2 a will be located 35-60 kilometers off the coast of Changhua County. With a total capacity of 900 MW, Greater Changhua 1 & 2a will be able to supply around 1 million Taiwanese households with electricity.

The Greater Changhua 2b & 4 projects are to be built in 2025, subject to grid availability and Ørsted taking final investment decision on the projects in 2023.

Ørsted is also the co-owner of Taiwan's first commercial-scale offshore wind farm, Formosa 1, which was extended from a capacity of 8 MW to 128 MW in 2019.

Categories: Energy Renewable Energy Offshore Wind Activity Renewables

Related Stories

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

Vietsovpetro Brings BK-24 Oil Platform Online Two Months Early

Shell’s Brazil-Bound FPSO Starts Taking Shape

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Seatrium Secures ABS Backing for Deepwater FPSO Design

Floating Offshore Wind Test Center Planned for Japan

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

CNOOC Finds Oil and Gas in South China Sea

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Current News

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Pakistan, Türkiye Deepen Oil and Gas Ties with Offshore Indus-C Block Deal

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Vietsovpetro Brings BK-24 Oil Platform Online Two Months Early

Propane’s Economic Edge for Ports During Trade Uncertainty

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com