Macquarie's Green Investment Group (GIG) and EnBW Energie Baden-Württemberg AG have reached an agreement with Japanese utility JERA to join in developing Taiwan's Formosa 3 offshore wind farm.
JERA now holds a 43.75% stake in the project. The Green Investment Group holds 31.25% and EnBW holds 25%. Financial details were not disclosed. Formosa 3 is an offshore wind project off the central-western coast of Taiwan.
It has three separate sites which have a total capacity of 2 gigawatts. The project secured approval after an environmental impact assessment in 2018.
JERA's entry into Formosa 3 follows previous partnerships on the Formosa 1 and Formosa 2 offshore wind projects. "Taiwan is fast becoming Asia's foremost offshore wind market," said Mark Dooley, global head of the Green Investment Group.
(Reporting by Nina Chestney; Editing by Edmund Blair)