Macquarie’s Green Investment Group (GIG) and EnBW Energie Baden-Württemberg AG (EnBW) are bringing in Japanese energy supplier, JERA, on development of the Formosa 3 offshore wind project in Taiwan.
After the transaction, JERA will hold 43.75% of the shares in Formosa 3. Both Macquarie’s Green Investment Group and EnBW retain substantial stakes of 31.25% and 25% respectively and remain closely involved in the project’s development.
Formosa 3 is a project in the Changhua region off the central western coast of Taiwan with a total potential output of 2000 MW. GIG and EnBW have developed the project to date and are currently preparing to take part in Taiwan’s next auction round for the award of grid capacity in 2020.
Jera’s entry into the third Formosa project is a logical next step after its involvement in the successful Formosa 1 and 2 projects, both of which recently reached major milestones with completion of Formosa 1 and commencement of construction for Formosa 2.
Together, JERA, GIG and EnBW aim to build a partnership that will develop projects according to international best practice standards while supporting Taiwan’s ambitions for the expansion of renewables.
Each of the partners contributes individual strengths and capabilities, which show an ideal complementary fit: GIG as an international investor and developer of green infrastructure facilities globally and notably also in Taiwan, EnBW as a developer and operator of offshore wind farms, and energy supplier JERA with a long business tradition in Taiwan and experience in the development of power generation assets worldwide.
Read the article online at: https://www.energyglobal.com/wind/09032020/enbw-and-macquarie-announce-new-partner-for-offshore-project-in-taiwan/