An offshore wind farm project in Taiwan has received a USD 2.7 billion investment from Canadian institutional investor Caisse de dépôt et placement du Québec (CDPQ).
CDPQ’s co-investment into the 605MW Greater Changhua 1 Offshore Wind Farm (Greater Changhua 1) alongside local investor Cathay PE, will result in their acquisition of a 50% stake in the wind farm.
Greater Changhua 1 is being developed and constructed by Ørsted. Ørsted recently secured consent from the United Kingdom’s secretary of state for business, energy, and industrial strategy, Alok Sharma, for one of the world’s largest wind farms located off the North Norfolk coast.
The equal share partnership is the first of its kind in the Asia Pacific offshore wind sector. It is hoped that the investment will help drive the creation of further opportunities in the Taiwanese market.
For CDPQ, this is its first direct investment in Taiwan, made via its infrastructure team which has maintained an strong track record for investments in the renewable energy industry.
Greater Changhua 1, which will be located off the coast of Changhua County, will generate a capacity of approximately 605 Megawatts (MW), supplying clean energy to more than 650,000 Taiwanese households.
The project’s construction has already begun and is expected to be completed in 2022.
Wayne Lin (email@example.com)