Greater Changhua 1 offshore wind farm : Ørsted wraps up sale of 50% stake

Ørsted has wrapped up its previously announced sale of a 50% stake in the 605MW Greater Changhua 1 offshore wind farm in Taiwan to Caisse de dépôt et placement du Québec (CDPQ), a Canadian pension fund company, and Cathay PE, a Taiwanese private equity fund.

The deal, which is worth DKK 16 billion ($2.49 billion), was signed in December 2020.

The Greater Changhua 1 is part of the 900MW Greater Changhua 1 and 2a offshore wind farm, which is being constructed by Ørsted. The construction is expected to be completed in 2022.

Ørsted wraps up sale of 50% stake in Greater Changhua 1 offshore wind farm to CDPQ and Cathay PE. Photo courtesy of Steppinstars from Pixabay.

As per the terms of the deal, the Danish renewable energy company will build the Greater Changhua 1 offshore wind farm under a full-scope engineering, procurement, and construction (EPC) contract.

In addition to that, Ørsted will take care of the long-term operations and maintenance (O&M) services from its O&M base located at the Port of Taichung.

The Greater Changhua 1 & 2a offshore wind farms will be able to power up nearly a million Taiwanese homes. They are being built 35-60km off the coast of Changhua County.