Danish offshore wind developer Ørsted Secures $3 Billion Financing for Greater Changhua 2 Wind Farm
Danish offshore wind developer Ørsted has successfully secured TWD 90bn ($3bn) in financing for the 632MW Greater Changhua 2 wind farm off the coast of Taiwan. This significant financing deal was arranged with the participation of 25 banks and five export credit agencies, covering a substantial portion of the project’s financing needs. Additionally, Ørsted is progressing with an equity divestment plan that is expected to be finalized upon the project reaching operational status.
The Greater Changhua 2 wind farm is strategically located approximately 60 km off the coast of Taiwan and consists of two parts: Greater Changhua 2a, which is already operational, and Greater Changhua 2b, currently under construction and slated for commissioning by the end of 2025.
Trond Westlie, CFO of Ørsted, expressed his satisfaction with the strong support received from both international and local financial institutions for the project financing of Greater Changhua 2. He highlighted the positive response as a testament to the attractiveness of premium assets with robust contractual structures in the renewable energy sector.
Key Highlights:
- Ørsted secures TWD 90bn ($3bn) in financing for Greater Changhua 2 wind farm in Taiwan.
- Financing deal involves 25 banks and five export credit agencies.
- Greater Changhua 2 comprises operational 2a and under-construction 2b parts.
- Equity divestment plan to be finalized upon project completion.