TotalEnergies to develop offshore wind in Taiwan
TotalEnergies and Corio Generation, two of the world’s leading offshore wind and renewable energy developers, have signed a joint venture partnership to develop the Formosa 3 offshore windfarms in Taiwan. Under this agreement, Corio will remain the majority shareholder and lead developer with 50% plus 10 shares overall in project.
The announcement comes after Taiwan’s Bureau of Energy confirmed in late December 2022 that Formosa 3’s Haiding 2 windfarm had been successfully awarded 600 MW grid capacity following the first phase of Taiwan’s Round 3 auctions.
The Formosa 3 project comprises three proposed windfarms – Haiding 1, 2 and 3 – in Changhua county on the central-western coast of Taiwan. The project received Environmental Impact Assessment (EIA) approvals in 2018, with an EIA-approved capacity of around 2 GW.
The windfarm development is expected to contribute to Taiwan’s ambitious plans for the green energy transition and represents a multi-billion investment from the partners and project lenders up to the end of construction. Future investments will be made in proportion to the partners’ project shareholdings.
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