Synera secures long-term PPA for Formosa 4 offshore wind project

Formosa 4 offshore wind will power 500,000 households annually via TSEE platform.

Synera Renewable Energy Group (SRE) has inked a long-term corporate power purchase agreement for its Formosa 4 Offshore Wind Project.

According to the company, the agreement was signed with Taiwan Smart Electricity & Energy. Part of the deal is Formosa 4 allocating a fixed portion of its generation to TSEE upon grid connection, after which TSEE will transact the green electricity through its platform with companies racing to meet their decarbonisation targets.

“This mutually beneficial agreement provides long-term revenue certainty and strengthens Formosa 4’s financial foundation, whilst making stable, reliable renewable power accessible to a broader range of corporate offtakers,” said Lucas Lin, chairperson at SRE.

Formosa 4, planned off the coast of Miaoli County, secured 495 megawatts in the first auction round of Phase 3 Zonal Development in 2022 and obtained its establishment permit in late 2024, becoming the first amongst all first-round winners to receive this permit.

Once completed, the wind farm is expected to generate enough clean energy to power approximately 500,000 households annually.