Ørsted brings in CDPQ and Cathay PE as investors in the Greater Changhua 1 Offshore Wind Farm - Seite 2

Jeff Chang, Chairman, Cathay PE, says: “We are delighted to team up with CDPQ to invest alongside Ørsted in the Greater Changhua 1 Offshore Wind Farm project. This landmark transaction represents an important milestone in Taiwan’s energy transition towards a low-carbon future and fits perfectly with Cathay PE’s investment mandate to invest in high quality energy infrastructure projects alongside world class partners.”

Matthias Bausenwein, President of Ørsted Asia-Pacific, says: “We’re looking very much forward to working with our new partners in the consortium and supporting Taiwan’s energy transition, not least through a strong collaboration with the financial sector in Taiwan. Bringing long-term infrastructure investors and Taiwanese banks into Greater Changhua 1 is another milestone for the Taiwanese market, underlining its pioneering role in the Asia-Pacific region. While bringing in partners, Ørsted remains fully committed to constructing and operating the project during its lifetime.”

The investors’ 50 % stake in Greater Changhua 1 will be funded through a combination of equity and senior long-term debt facilities from 15 international and Taiwanese banks and 2 Taiwanese life insurance companies as well as 5 export credit agencies providing lending and guarantees.

The divestment is subject to regulatory approval from the Taiwanese authorities.

The information provided in this announcement does not change Ørsted’s previous financial guidance for the 2020 financial year or the announced expected investment level for 2020.

Facts about Ørsted’s offshore wind projects in Taiwan

• The Greater Changhua 1 site accounts for 605 MW of the 900 MW Greater Changhua 1 & 2a Offshore Wind Farm which Ørsted has started constructing and expects to complete in 2022.
• With a total capacity of 900 MW, Greater Changhua 1 & 2a will be able to supply around 1 million Taiwanese households with green power.
• Greater Changhua 1 & 2a will be located 35-60 kilometers off the coast of Changhua County.
• In June 2018, Ørsted was awarded the right to build another 920 MW offshore wind in Taiwan at its Greater Changhua 2b & 4 sites. The Greater Changhua 2b & 4 projects are to be built in 2025, subject to grid availability and Ørsted taking final investment decision on the projects in 2023.
• Ørsted is also the co-owner of Taiwan's first commercial-scale offshore wind farm, Formosa 1, which was extended from a capacity of 8 MW to 128 MW in 2019.

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