DONG TO INVEST IN FORMOSA I WIND PROJECT
DONG Energy has signed an agreement to acquire a 35% ownership interest in the Taiwanese offshore wind project Formosa I from local developer Swancor Renewable. Completion of the transaction is subject to a number of conditions precedent including approval from the EU and from the Investment Commission under Taiwan’s Ministry of Economic Affairs. The new owners of Formosa I are DONG Energy (35%), Macquarie Capital (50%), and Swancor Industries (15%). While DONG Energy will provide advisory services, Swancor Renewable will continue to lead the project through site development and construction. Macquarie Capital will work closely with DONG Energy and Swancor Renewable to complete the development and construction of the project.
Formosa I comprises two phases. Phase I has a total capacity of 8MW and consists of two turbines that have been successfully installed in October 2016. In Phase II, a further 120MW of capacity is planned to be constructed during 2019, subject to final investment decision. Formosa I is located approximately 3km off the Coast of Miaoli County in North-West Taiwan.