JERA buys majority stake in Taiwan's Formosa 3 offshore wind project

It now holds 43.75% of the project.

JERA has acquired a majority stake (43.75%) in the Formosa 3 offshore wind project in Taiwan, according to an announcement. Macquarie’s Green Investment Group (GIG) and EnBW Energie Baden-Württemberg AG (EnBW) will continue to hold material stakes at 31.25% and 25% respectively.

Formosa 3 is an offshore wind project in Changhua county off the central-western coast of Taiwan comprising three separate sites, with a total potential capacity of 2GW. GIG and EnBW have been developing the project to date and intend to pursue capacity in Taiwan’s next round of grid allocations, expected in 2020. Formosa 3 achieved its Environmental Impact Assessment approval in 2018.

Dirk Güsewell, head of generation portfolio development at EnBW, said, “Formosa 3 will benefit from JERA’s local expertise and experience as project partner of Formosa 1 and 2.”