innogy enters Taiwan’s offshore wind market through strategic local partnership
- Agreement signed with Asia Cement Corporation to further develop up to 448MW Chu Feng offshore wind project
innogy, one of Europe’s leading energy companies, has partnered with Asia Cement Corporation to continue the development of a major offshore wind project off the coast of Taiwan. The two companies have agreed a strategic partnership to further develop the Chu Feng offshore wind project, which intends to participate in the next grid allocation round in Taiwan. With a planned installed capacity of up to 448 megawatt (MW), it will be located off the northwest coast of Taiwan near Hsinchu City, in the wind-rich Taiwan Strait.
innogy opened a local office in Taipei in 2018 to drive its business in Taiwan and the wider Asia-Pacific region with a target to build up regional knowledge and expertise by joining forces with local partners. The partnership for the Chu Feng offshore wind project is a perfect strategic fit for innogy and another milestone in capturing value accretive growth options in the field of offshore wind.
Sven Utermöhlen, Senior Vice President Renewables Operations Offshore at innogy SE, explained: “The government has plans to considerably increase the role of offshore wind energy in Taiwan’s electricity production. The Chu Feng project will enable us to enter this growing market with a strong local partner at our side, whose local expertise complements our global experience and technical know-how, and who share our ambition to drive the growth of offshore wind in Taiwan.”
Henry Wu, the CEO of the Chu Feng Preparatory Office, stated: “We are pleased that innogy, with their extensive offshore wind experience, are on board with us in the development of the Chu Feng offshore wind project. The Far Eastern Group is committed to develop green energy to reduce our carbon footprint and support the government in meeting its renewable energy targets, and have ambitions to grow our wind power business in Taiwan.”
innogy is one of the world’s leading operators of offshore wind farms
innogy is one of the world’s leading operators of offshore wind farms. The company has been involved in the deployment of more than 2,500 MW of offshore wind capacity in Europe and has further offshore development projects worldwide. innogy has been successful in the most recent offshore wind auctions in the UK, Germany and France, with the most recent development project secured being the 1,400 MW Sofia offshore wind farm in the UK (100% innogy), for which innogy received a Contract for Difference via auction in 2019.