Green Investment Group announces Taiwan wind farm close

29 October 2019 - 12:00 am UTC

Macquarie’s Green Investment Group today announced that the 376 MW Formosa 2 offshore wind project in Taiwan has reached financial close.

Macquarie Capital’s Green Investment Group announced today that the TWD 62.4bn (USD 2bn) 376 MW, Formosa 2 Taiwanese offshore wind project has reached financial close.

Macquarie owns 75% of the project, while Taiwanese developer Swancor Renewable owns 25%.

Japan’s JERA recently won an auction for 49% of Formosa 2.

“We are delighted to announce Formosa 2’s financial close, the project marks another important step in Taiwan’s renewable energy transition. GIG is committed to supporting Taiwan in achieving its green energy ambitions and, together with Formosa 1 and Formosa 3, our projects could deliver up to 2.5GW of offshore wind energy,” said Mark Dooley, Global head of Macquarie’s Green Investment Group in the announcement. “Taiwan is fast becoming Asia’s foremost offshore wind market and we are proud to be playing a leading role in its offshore wind story.”

The financing documents were signed a few weeks ago, but a few conditions precedent need to be satisfied before the project reaches close, they add.

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