Ørsted raises $3.07b for Greater Changhua 2

The finance package includes 25 banks.

Ørsted has reached financial close for Greater Changhua 2, raising a total of $3.07b (TWD 90b) for the 632 MW Greater Changhua 2 offshore wind farm.

In a statement, the company said the project finance package was secured through 25 banks and five export credit agencies.

Greater Changhua 2 is located approximately 50 kilometres (km) to 60 km off the coast of Changhua County, Taiwan. It is comprised of Greater Changhua 2a, which is operational, and Greater Changhua 2b, which is currently under construction and is expected to be commissioned towards the end of 2025.

“Whilst funding of Ørsted’s activities primarily has been undertaken at the group level, we have extensive experience in structuring financing packages on behalf of incoming partners. This transaction is another important step forward for the strategic priorities we’ve set for ourselves,” said Ørsted Group CFO Trond Westlie.

$1 = TWD 29.25