JERA in talks to buy stake in 1.9GW Formosa-3 wind project

The project could start operations in 2026-2030.

JERA, the joint venture of Japanese power utilities TEPCO and Chubu Electric, has started negotiation with the Australian asset manager Macquarie Capital to acquire close to a half stake in the 1.9 GW Formosa-3 offshore wind project in Taiwan. It is expected to start operation between 2026 and 2030.

In December 2018, JERA acquired a 32.5% participation in the 120 MW Formosa-1 offshore wind project, which was inaugurated in November 2019 and should be commissioned before the end of 2019. In addition, JERA signed an agreement with Macquarie Capital in October 2019 to buy a 49% stake in the 376 MW Formosa-2 offshore wind project, which is planned to be operational in 2021.

Taiwan plans to develop an additional 10 GW of offshore wind capacity between 2026 and 2035. The island already targets to build 5.7 GW of offshore wind capacity by 2025, as the country aims to exit nuclear the same year.

This article was originally published by Enerdata.