innogy, a European energy company, has partnered with Asia Cement Corp. to continue the development of a major offshore wind project off the coast of Taiwan.
The two companies have agreed to a strategic partnership to further develop the Chu Feng offshore wind project, which intends to participate in the next grid allocation round in Taiwan. With a planned installed capacity of up to 448 MW, it will be located off the northwest coast of Taiwan near Hsinchu City, in the Taiwan Strait.
innogy opened a local office in Taipei in 2018 to drive its business in Taiwan and the wider Asia-Pacific region, with a target to build up regional knowledge. The partnership for the Chu Feng offshore wind project is a strategic fit for innogy and another milestone in capturing value accretive growth options in the field of offshore wind.
“The government has plans to considerably increase the role of offshore wind energy in Taiwan’s electricity production,” says Sven Utermöhlen, senior vice president at innogy.
“The Chu Feng project will enable us to enter this growing market with a strong local partner at our side, whose local expertise complements our global experience and technical know-how, and who share our ambition to drive the growth of offshore wind in Taiwan,” he adds.
innogy has been involved in the deployment of more than 2,500 MW of offshore wind capacity in Europe and has further offshore development projects worldwide. The company has been successful in the most recent offshore wind auctions in the U.K., Germany and France, with the most recent development project secured being the 1,400 MW Sofia offshore wind farm in the U.K., for which they received a contract for difference via auction in 2019.
