Siemens Gamesa Renewable Energy (SGRE) has been selected to supply turbines for the Formosa 1 Phase 2 offshore wind project in Taiwan.
The project has also secured NT$18.7bn ($628m) 16-year financing from a financial consortium of eleven international and four local Taiwanese banks as well as EKF, Denmark’s Export Credit Agency.
The four participated local Taiwanese banks include Cathay United Bank, Taipei Fubon Commercial Bank, EnTie Commercial Bank, and KGI Bank while the seven international banks include ANZ Banking Group, BNP Paribas, Crédit Agricole Corporate and Investment Bank, DBS Bank, ING Bank, MUFJ Bank and Société Générale.
The Formosa 1, which was commissioned in April 2017, is a joint venture between Ørsted with 35% stake, Taiwanese developer Swancor Renewable with 15% interest, and Macquarie Capital with 50% stake. The project comprises two 4MW offshore wind turbines.
Planned to be constructed in 2019, the Formosa 1 Phase 2 project will have 120MW capacity. It will feature 20 units of Siemens Gamesa’s SWT-6.0-154 Direct Drive wind turbines, bring the total capacity of Formosa project to 128MW.
Siemens Gamesa Renewable Energy offshore CEO Andreas Nauen said: “We are pleased to take another concrete step with our customers towards helping the Taiwanese government meet the goal of 520 megawatts installed offshore by 2020, and the grid capacity goal of 5.5GW to be commissioned between 2020 and 2025.
“These ambitious targets demonstrate the proactive commitment of the government to supporting the offshore wind industry in Taiwan.”
Siemens Gamesa also signed a 15-year full service agreement.
Ørsted Asia Pacific general manager Matthias Bausenwein said: “We are glad to see that this important project milestone has been achieved now.
“Ørsted’s strong track record and professional experience have contributed to the project financing success and we will continue with solid support throughout the construction of Formosa 1’s second phase.”