GIG announced the successful financial close for Taiwan’s Formosa 2 offshore wind farm. Formosa 2 was jointly developed by Macquarie Capital (75%) and Swancor Renewable Energy (25%). GIG will play a key role in delivering the project through its construction phase.
The 376 MW offshore wind project located off the coast of Miaoli will utilise 47 market-leading 8 MW turbines. Once complete, it is estimated to displace 18,750 kt CO2eover its lifetime while powering the equivalent of 380,000 households annually.
Total funding for the project of NT$62.4 bn, 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. The financing will be used to support the development and construction of the project.