Case

Green electricity to power 450,000 Taiwanese homes

Around eight kilometres off the coast of the Yunlin region in the west of Taiwan, 80 wind turbines from Siemens Gamesa will make up the Yunlin Offshore Windfarm.

With its 640 MW capacity, this will be Taiwan’s largest offshore windfarm, which from 2021 will be powering more than 450,000 Taiwanese homes with green electricity. EKF is helping finance the project with a guarantee of EUR 422 million, representing 25 per cent of the senior debt. Taiwan has long been forecasted as the next major market for offshore wind, and the consensus is that Taiwan is poised to be a crucial regional wind energy hub in the coming years. Together with Danish sponsors and exporters, EKF helped open up the market in Taiwan.

The Taiwan Strait – the body of water between the Taiwanese west coast and the Chinese mainland – is with its viable water depths ideal for wind turbines. Political willingness and great ambitions mean that the framework conditions for attracting investors are more favourably advanced than in other potential markets. EKF has so far been involved in the financing of all of Taiwan’s offshore wind farms.

 

Image credit: Yunlin.

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