Taiwan’s Formosa 2 offshore wind farm reaches financial close

29 October 2019

Formosa 2 has been jointly developed by Macquarie Capital (75%) and Swancor Renewable Energy (25%). GIG will now play a role in delivering the project through its construction phase.

The 376MW offshore wind project located off the coast of Miaoli will utilise 47 Siemens Gamesa 8MW turbines.

Total funding for the project of TWD 62.4 billion (USD 2 billion) will be financed by a consortium of 20 international and local Taiwanese financial institutions.

The significant interest shown by the financial consortium has demonstrated the attractiveness of the Formosa 2 project and the offshore wind potential in Taiwan, GIG said. The financing will be used to support the development and construction of the project.

Vekta Group was pleased to support Formosa 2 with electrical due diligence during the development phase.