Danish energy company Ørsted said Thursday it has secured a project financing package worth approximately 90 billion New Taiwan dollars, or about 20 billion Danish Krone, for its Greater Changhua 2 offshore wind farm in Taiwan.
The financing was raised from a group of 25 banks and is supported by guarantees from five export credit agencies, according to the company.
The deal is part of the financing for the 632-megawatt project, and Ørsted said it is also progressing with plans for an equity divestment once the wind farm is fully operational.
The Greater Changhua 2 project consists of two parts: the operational Greater Changhua 2a and Greater Changhua 2b, which is under construction and expected to be commissioned towards the end of 2025.
“We’ve received very strong support from both international and local banks and export credit agencies for the project financing of Greater Changhua 2,” said Group CFO Trond Westlie.
“This shows that there is a healthy appetite for premium assets with robust contractual structures, and it’s a clear sign that we’re working diligently to deliver on our divestment and partnerships programme.”
The move is consistent with Ørsted's strategy in Taiwan, where it has previously sold 50% stakes in its nearby Greater Changhua 1 and Greater Changhua 4 offshore wind farms to institutional investors.
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