Photo by Pixabay: https://www.pexels.com/photo/wind-turbine-landscape-photography-532192/

Taiwan OK’s financial restructuring for Yunlin offshore wind farm

The 640 MW project is expected to be completed in 2024.

The Ministry of Economic Affairs of Taiwan has approved the financial restructuring of the 640-megawatt Yunling Offshore Wind Farm Project.

Project operator Yuneng Wind Power Co., Ltd. has announced the financial restructuring in August 2023.

The project is funded by Skyborn Renewables and its investment partners Total Energies and EGCO Group, and Japan’s Sojitz Corporation. Its financing group has not changed since the initial funds were received which includes over 20 domestic and foreign specialised banks and export credit agencies, the operator said.

ALSO READ: Taiwan’s RE capacity has risen 7-fold since 2016

Tianfeng New Energy CEO Thomas Karst said 34 of the 80 wind turbines have been installed so far.

The electricity to be generated from the project will be supplied to the Taiwan Electric Power Company under two 20-year power purchase agreements.

The wind farm can generate power that can meet the needs of over 600,000 households.

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