Jera acquires 2GW in Formosa 3 Wind Farm

Japanese company Jera has acquired a stake in the up to 2GW Formosa 3 offshore wind farm off Taiwan for an undisclosed price.

Jera now holds a 43.75% share in the project, with Macquarie’s Green Investment Group (GIG) and German developer EnBW holding 31.25% and 25%,respectively.

Formosa 3 is located off Changhua county on the central-western coast of Taiwan and comprises three separate sites.

GIG and EnBW have been developing the project, with the aim of securing capacity in Taiwan’s next round of grid allocations, expected later this year.

Formosa 3 achieved environmental impact assessment approval in 2018.

Jera’s entry into Formosa 3 further extends its relationship with GIG formed in Taiwan through partnerships on the Formosa 1 and Formosa 2 offshore wind farms.

GIG global head Mark Dooley said: “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.

“Partnership working is key to GIG’s development approach, bringing together international and local expertise to support local economies and create world class developments. Taiwan is fast becoming Asia’s foremost offshore wind market.

“We’re extremely proud that through Formosa 3, and our work on a range of renewable energy technologies, our Taipei-based team are playing a key role in Taiwan’s green energy transition.”

EnBW head of generation portfolio development Dirk Gusewell said: “EnBW is looking forward to Jera joining us in the Formosa 3 project.

“We are convinced that Formosa 3 will benefit from Jera’s local expertise and experience as project partner of Formosa 1 and 2.

“EnBW has more than 10 years’ experience in offshore wind energy, being a pioneer and driving force in Germany.

“Together with our partners, we aim to develop Taiwan’s largest offshore wind farm. Taiwan is currently the lead market in Asia Pacific, and we are very honoured to support Taiwan’s Energy Transition process and the local supply chain to become competitive in the region.”

Jera executive officer of the business development department Satoshi Yajima said: “We are flattered to deepen our relationship with Macquarie’s Green Investment Group following the Formosa 1 and 2 offshore wind projects, and newly with EnBW through the participation in the Formosa 3 project.

“In line with Jera’s vision of becoming a global leader in LNG and renewables toward 2025, we are extremely honoured to be contributing to the sustainable growth of Taiwanese power market by utilising our long track record in the power sector all over the world.”