JERA has reached an agreement with Macquarie’s Green Investment Group (GIG) and EnBW Energie Baden-Württemberg AG (EnBW) to join the development of the Formosa 3 offshore wind farm in Taiwan.
JERA now holds 43.75% of the project, with GIG holding 31.25% and EnBW 25%, retaining material stakes and remaining committed to the ongoing development.
The Japanese utility’s entry into Formosa 3 extends its relationship with GIG formed in Taiwan through their partnerships on the Formosa 1 and Formosa 2 offshore wind projects.
“GIG and JERA have established a strong and successful relationship in Taiwan’s offshore wind market, and we’re delighted to further deepen that partnership through Formosa 3,” said Mark Dooley , Global Head of Green Investment Group.
“Taiwan is fast becoming Asia’s foremost offshore wind market. We’re extremely proud that through Formosa 3, and our working on a range of renewable energy technologies, our Taipei-based team are playing a key role in Taiwan’s green energy transition.”
Formosa 3 comprises three separate sites, with a total potential capacity of 2GW, located offshore the Changhua county off the central-western coast of Taiwan.
GIG and EnBW have been developing the project to date and intend to pursue capacity in Taiwan’s next round of grid allocations, expected this year. Formosa 3 achieved its Environmental Impact Assessment approval in 2018.