Sian Crampsie

The 640 MW Yunlin offshore wind farm project, the largest offshore wind transaction financed in Asia Pacific and the first large multi-megawatt offshore wind project in Taiwan, has reached financial close, developer wpd says.

The Yunlin project will be built eight km off the Taiwanese west coast and will consist of 80 turbines of the 8 MW class provided by Siemens Gamesa. A financing group comprising a total of 19 banks and three export credit agencies from Denmark, Germany and the Netherlands closed this NT$94 billion (€2.7 billion) project financing.

Wpd co-owns Yunlin with a Japanese group led by trader Sojitz Corporation.

Germany-based wpd said it was “pleased” to reach financial close on the project. “By achieving this important step we now can concentrate on the realization of the project,” said Achim Berge Olsen, COO of wpd. “We are looking forward to the cooperation with our partners and of course we are aware of the special responsibility being the first large offshore wind project with local supply chain in Taiwan.

“We are proud of paving the way for future renewable energy projects in Asia.”