The inauguration ceremony for Taiwan’s first commercial scale offshore wind farm – Formosa 1 – was held today at Longfeng Fishing Harbor in Miaoli. Following the final installation of 20 turbines in October 2019, commercialization is expected at the end of year, symbolizing the project’s completion. Formosa 1’s inauguration is an important milestone in the realization of Taiwan’s commitment to deliver 5.7 GW of offshore wind capacity by 2025, and a further demonstration of its commitment towards green energy.
Formosa 1 Offshore Wind Farm is a joint venture between Orsted, JERA, Macquarie’s Green Investment Group and Swancor. The 128 MW project will produce enough clean energy to power the equivalent of 128,000 Taiwanese households. Formosa 1 was developed in two phases. The first phase, consisting of two 4 MW turbines, reached completion in October 2016. Phase two, completed in October 2019, saw the installation of 20 turbines totaling 120 MW.
Green energy is becoming the engine driving economic development across Asia and Taiwan is playing a central role in the region’s burgeoning renewables industry. The successful completion of Formosa 1 demonstrates Taiwan’s competitiveness and ability to deliver world-class offshore wind developments.
Mark Dooley, Global Head of Macquarie’s Green Investment Group said:
We are delighted to deliver the first commercial scale offshore wind farm in Taiwan, helping to launch an important new industry and sustainable power service for the Taiwanese community. Our Taipei based development team have been working hard over the past two years to complete this project safely and on time.
Formosa 1 is a significant milestone in Taiwan’s journey to becoming the offshore wind powerhouse of Asia. GIG is excited to be a part of its green energy story and we look forward to continuing to support Taiwan’s transition to a greener economy.”
Matthias Bausenwein, Formosa 1 Chairman, and the President of Ørsted Asia Pacific said:
Today is a historic moment for all who participated in the Formosa 1 project. All the intensive efforts we invested together with our joint venture partners, local authorities, financial institutions and stakeholders have finally flourished. Formosa 1 marks a major milestone for Taiwan and for Ørsted in Asia. It is a great honor to see our vision of a world that runs entirely on green energy being gradually realized in Asia.”
Koichi Tamura, the chairman of JERA Energy Taiwan said:
First, I would like to express my sincere gratitude to all related officials of Taiwanese Government, local relevant parties and citizens, developer partners, lenders, construction contractors and all relevant parties of Formosa 1 Offshore Wind Farm. This significant milestone cannot be achieved without your dedication. Together with other partners JERA will ensures Formosa I run safely and reliably to contribute to the development of offshore wind farm in Taiwan.”
Robert Tsai, Chairman of Swancor Holding said:
Swancor first entered the Taiwan offshore wind industry in 2010 and we are proud to announce that we have successfully delivered the first offshore wind farm, Formosa 1, to Taiwan. This not only sets a major milestone for the offshore wind policy of the Government, but also demonstrates the ability of Taiwanese enterprises of developing commercial-scale offshore wind farm.
During the five months of construction, the Formosa 1 project team had encountered and overcome challenges, and eventually completed the construction of the wind farm. Swancor, as the initiator of Formosa 1, has also committed to localization by providing resin for the fabrication of blades of Formosa 1 wind turbines. Today, we are delighted to announce that the construction of Formosa 1 was now completed and this is a milestone for the 5.7GW of offshore wind capacity by 2025.”
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About Formosa I
Formosa 1 project, a joint venture of Ørsted (35%), JERA (32.5%), Macquarie’s Green Investment Group (25%) and Swancor Holdings (7.5%). The Formosa I team has gathered the professional advantageous and resources of the shareholders to drive the completion of the first offshore demonstration wind farm in Taiwan by 2019.
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs and operates offshore and onshore wind farms, bioenergy plants and provides energy products to its customers. Headquartered in Denmark, Ørsted employs 6,500 people. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2018, the group’s revenue was DKK 76.9 billion (EUR 10.3 billion). For more information on Ørsted, visit orsted.com or follow us on Facebook, LinkedIn, Instagram and Twitter.
About JERA Co., Inc.
Established in 2015, JERA Co., Inc. is a joint venture between TEPCO Fuel & Power and Chubu Electric Power. By succeeding and combining the strengths of TEPCO and Chubu, JERA aims to provide cutting edge solutions to the world's energy issues: Japan's Energy for A New Era. The total net power generation capacity owned by JERA is 75GW.Here in Taiwan, JERA has cooperated with Taiwan enterprises to operate Chang Bin, Fong Der, and Star Buck 3 IPP thermal power generation plants to contribute to the stable power generation. Besides, JERA also endeavors to promote clean energy. JERA joins Formosa I Offshore Wind Project, the first commercial scale offshore wind farm in Taiwan. In January 2019, JERA Energy Taiwan Co., Ltd. is established to support ongoing development.
About Green Investment Group and Macquarie Group
Macquarie’s Green Investment Group (GIG) is a specialist in green infrastructure principal investment, development, project delivery, and the management of portfolio assets, and related services. Its track record, expertise and capability make it a global leader in green investment, dedicated to supporting the growth of the global green economy.
The institution was initially launched by the UK Government in 2012 as the Green Investment Bank (GIB) - the first institution of its type in the world. It was purchased by Macquarie in 2017 and combined with Macquarie Capital’s renewables team to create one of the world’s largest teams of specialist green investors. Now operating as Macquarie’s Green Investment Group, the platform has more than 400 staff working in over 15 countries across Europe, North America, Asia and Australia, combining international best practice from across Macquarie’s activities.
Across the globe, GIG has supported 16 offshore wind projects, representing over 4.5 GW of operating capacity including almost 50% of the UK’s offshore wind capacity in operations or under construction.
Macquarie Group Limited (Macquarie) is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs 15,715 people in 30 markets. At 31 March 2019, Macquarie had assets under management of £305.8 billion.
For more information, visit www.greeninvestmentgroup.com and www.macquarie.com.
About Swancor Holding
Swancor Holding (TWSE: 3708) is a leading manufacturer of fine chemical and composite material. Swancor Holding is committed to producing materials for renewable energy, including the environmental friendly corrosion resistant resin, material for wind turbine blade and carbon fiber composite which are cutting-edge products in Taiwan and China’s market. Formosa Plastic Group (TWSE: 1301) and Goldwind Science & Technology Co., Ltd (HKSE: 2208) are strategic partners of Swancor Holding in related field.