Macquarie Asset Management Sells Stake in Formosa 2 Wind Farm to Pine Wind Power

Macquarie Asset Management has recently announced the sale of its 26% equity and debt interest in the Formosa 2 wind farm, a significant offshore project located off the coast of Taiwan. The buyer, Pine Wind Power, a subsidiary of J&V Energy, has secured capital commitments from partners Taiwan Life Insurance and He Jun Energy to support the investment.

As part of the deal, JV Asset Management, an affiliate of J&V Energy, will provide long-term asset management services to its partners, ensuring the continued success and operation of the Formosa 2 wind farm.

Formosa 2: A Key Player in Taiwan’s Renewable Energy Landscape

Formosa 2, with a capacity of 376MW, is a crucial contributor to Taiwan’s renewable energy goals. The wind farm, equipped with 47 Siemens Gamesa 8MW wind turbine generators, has been operational since March 2023. It currently provides clean energy to around 380,000 Taiwanese households annually, making a significant impact on the region’s sustainable energy supply.

Macquarie, in collaboration with JERA and Synera Renewable Energy, played a pivotal role in developing Formosa 2, establishing it as one of the pioneering large-scale offshore wind farms in Taiwan. The successful operation of Formosa 2 underscores the commitment to renewable energy development in the region.

J&V Energy’s Strategic Investment in Taiwan’s Renewable Market

For J&V Energy, the acquisition of Formosa 2 marks its entry into the operational wind farm investment landscape in Taiwan. Building on its prior experience in developing and investing in wind energy projects in Taiwan, including Formosa 4 and 5, and the Huan Yang offshore wind farm, J&V Energy is poised to strengthen its presence in the Taiwanese renewable energy sector.

Jerome Tan, CEO of JV Asset Management, expressed optimism about the company’s future prospects, stating, “JV Asset Management is on track to become one of Taiwan’s leading specialist renewable asset managers, with this transaction propelling us closer to our goal of managing $1bn in assets by 2026.”

Overall, the sale of Macquarie’s stake in Formosa 2 to Pine Wind Power signifies a strategic move in Taiwan’s renewable energy landscape, showcasing the continued growth and investment opportunities in the region’s clean energy sector.