JERA Joins Taiwan, UK Offshore Wind Projects

Laxman Pai
Wednesday, January 2, 2019

Japanese energy group JERA joined  in the Formosa 1 offshore wind power project in Taiwan and Gunfleet Sands offshore wind power project in the U.K.

JERA has entered into an agreement with Macquarie Capital and Swancor to acquire a combined 32.5% equity interest in the Formosa 1 offshore wind power project, located off the north-western coast of Taiwan. The transaction remains subject to regulatory approvals.

The 128MW Formosa 1 project represents Taiwan’s first utility-scale offshore wind farm. The first phase of 8MW has been successfully operated for over 18 months, with the additional 120MW under construction expected to start operations in late 2019. The project has secured the support of Taiwan Power Company under a 20-year Power Purchase Agreement based on the FIT (Feed in Tariff) scheme.

To date, Macquarie Capital, Swancor and Ørsted have used their knowhow and experience in Europe and Taiwan to develop the project. Macquarie Capital and Swancor will continue as shareholders, and the four shareholders together will focus on achieving to start operations of the first offshore wind farm in Taiwan by the end of 2019.

JERA has also agreed to acquire a 24.95 percent equity interest from Marubeni Corporation in the Gunfleet Sands Offshore Wind Farm project off the coast of the United Kingdom.

The Gunfleet Sands project has 172.8MW of installed capacity, and is located off the coast of Essex County, the southeastern part of the U.K. It consists of 48 fixed-bottom offshore wind power generators and began operations in April 2010.

Ørsted A/S is a partner in the Gunfleet Sands project and is the global market leader in offshore wind power, holding the world’s largest market share. JERA will work together with Ørsted, as well as the Development Bank of Japan which already participates in the project.

Categories: Wind Power Offshore Energy Renewable Energy Offshore Wind Energy Europe Asia Renewables

Related Stories

Deepwater Leads in Discovered Oil and Gas

US Gulf Production Restarting After Barry

Total Sells UK North Sea Assets

Activity Picking Up Offshore Guyana

Halliburton Debuts 3D Logging-While-Drilling Tech

North Sea Capital Making Inroads

Trestakk Comes on Stream

Near Miss on the Terra Nova FPSO

Wrist Ship Supply Acquires Van Hulle

Acteon Acquires Proserv’s Field Technology Services

Current News

ABS to Class Mono Column Jack-up

Halliburton Debuts 3D Logging-While-Drilling Tech

Emerson Updates Reservoir Modeling Software

Premier Oil Cuts Operating Costs Forecast

Okea's Second-quarter Profit Rises

New CEO Guy Takes the Helm at EnerMech

Vietnam, China in South China Sea Standoff

Aker Solutions Beats Forecasts

Eni CEO Sues Lawyer for Defamation

Saipem to Build Floating Wind Farm in Saudi Arabia

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week