“This project, besides being a remarkable one in Taiwan where it marks the continuation of the offshore wind build-out, is part of leading the way for the complete APAC region going into offshore wind,”


It was a privilege to be part of the team helping the Taiwan government reach its renewable energy target Ingrid Chang, Head of


Corporate Coverage Taiwan, Deutsche Bank


Visit us at flow.db.com


said Anders Eldrup, CIP APAC Chairman, in a press release when the deal was closed. “Reaching financial close marks a major milestone for the Changfang and Xidao project and we are really excited about entering the construction phase,” added CIP Partner Michael Hannibal. He noted that once commercial operations start, the wind farm will “provide clean energy to more than 600,000 households in Taiwan”.7


A sizeable force The track record established by project financing deals such as Yunlin, together with Changfang and Xidao, has clearly played its part in confirming Taiwan as the most attractive offshore market in the APAC region. As Somik Das, Senior Power Analyst at GlobalData, commented in August 2020, “Taiwan is blessed with high offshore potential, providing greater market size and stability, [a] conducive policy environment,


[an] established power purchase agreement market, and project financing ease.”8


It would seem that the country’s aims of reaching total offshore wind capacity of more than 5.5GW by 2025, and 15.5GW by 2035, are currently on track. Given that, as at 2019, there was only 29GW of installed offshore capacity in the whole world, that has got to be a game-changer.


Sources 1


See https://bit.ly/3a5kPoW at gwec.net 2 See https://reut.rs/3jAa1Cx at reuters.com 3 See https://bit.ly/3jBQ2mN at wpd.de 4 See https://bit.ly/3v0mbdj at wfw.com 5 See https://bit.ly/3jAa94Z at gwec.net 6 See https://bit.ly/3d65cjf at gtreview.com 7 See https://bit.ly/3tK9x17 at cipartners.dk 8 See https://bit.ly/3rFGxpv at globaldata.com


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