The 1 GW Hai Lengthy offshore wind undertaking in Taiwan, being developed collectively by Northland Energy and Mitsui & Co., has reached monetary shut for its 20-year TWD 117 billion (about EUR 3.4 billion) non-recourse inexperienced financing.
In keeping with Northland Energy, the TWD 117 billion debt quantity at closing modified from the TWD 118 billion at signing monetary agreements because of the ultimate international change charges on closing.
The non-recourse inexperienced undertaking financing will probably be offered by over 15 worldwide and native lenders with help from a number of Export Credit score Businesses (ECAs) together with Export Improvement Canada (EDC), Japan Financial institution for Worldwide Cooperation (JBIC), Nippon Export and Funding Insurance coverage (NEXI), UK Export Finance (UKEF), Export Finance Australia (EFA), Export Finance Norway (Eksfin) and Credendo – Export Credit score Company of Belgium.
The 1,044 MW Hai Lengthy improvement will comprise two offshore wind farms that will probably be developed in three phases, with Hai Lengthy 2 break up into two phases: the 300 MW Hai Lengthy 2a and the 232 MW Hai Lengthy 2b. Hai Lengthy 3 could have an put in capability of 512 MW.
Hai Lengthy’s whole price is projected to be roughly CAD 9 billion (about 6.3 billion).
The undertaking is being developed about 45-70 kilometres off the Changhua coast within the Taiwan Straits. In keeping with Northland Energy, Hai Lengthy has achieved a number of milestones, together with in-water development and fabrication actions, all environmental approvals, main permits, and development contracts.
Deliberate to be totally commissioned in 2025, the Hai Lengthy offshore wind undertaking is anticipated to energy 1.55 million households in Taiwan with its 73 Siemens Gamesa SG 14-222 DDÂ wind generators.
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