CDPQ wins Changhua auction

12 March 2020 - 12:00 am UTC

Canada’s CDPQ wins an auction for a minority stake in Orsted’s 605 MW Taiwanese offshore wind project.

Canada’s Caisse de Depot et du Placement du Quebec (CDPQ) has won the auction for Orsted’s stake in the 605 MW, Changhua 1 offshore wind project in Taiwan, according to a source close to the situation.

Denmark’s Orsted will remain the majority shareholder in Changhua, according to the source. CDPQ will be the second-largest shareholder, he added, while an additional local shareholder has yet to be brought in.

CDPQ previously competed to invest in WPD’s Yunlin offshore wind project.

In July 2019, Orsted kicked off the sale process for Changhua. Indicative bids for the project – codenamed Project Mercury – were submitted on 23 August.

In October, CDPQ, Thailand’s Electricity Generating Public Co. (EGCO) and Australia’s IFM Investors were among those shortlisted in the auction.

Orsted received final bids for a stake in the project in mid-December.

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