offshore wind

Taiwan Life and TransGlobe Life have acquired a minority stake in the 600MW Changfang and Xidao offshore wind project, while the Danish fund manager will retain its majority stake through the construction phase.

The firm is part of a consortium of 20 international and local lenders that will provide project financing for the Macquarie Capital-backed Formosa II.

The transaction marks the energy company’s second investment in a Macquarie Capital-backed offshore wind project in Taiwan.

Britain's offshore wind industry has come of age at a startling rate and presents new market dynamics for the sector.

The firm’s newest European fund has bought a chemical parks supplier, while the group has also acquired two offshore wind farms.

Most of the EIAs local firms have launched are located in the selected areas, a source said.

The acquisition of a 95% stake in the renewables division of chemical manufacturer Swancor, includes a stake in the 376MW Formosa II project.

Sources warn of diminishing support from export credit agencies as the country steps ups its localisation requirements.

Company cites preparatory work over the supply chain, including local content requirements, for delay over Taiwan’s 640MW wind project.