Offshore wind and renewable energy developers TotalEnergies and Corio Generation have signed a joint venture partnership to develop the Formosa 3 offshore wind farms in Taiwan.
Under the agreement, Corio will remain the majority shareholder and lead developer, with 50% plus 10 shares overall in project.
The announcement comes after Taiwan’s Bureau of Energy confirmed in late December 2022 that Formosa 3’s Haiding 2 wind farm had been successfully awarded 600 MW of grid capacity following the first phase of Taiwan’s Round 3 auctions.
The Formosa 3 project comprises three proposed wind farms – Haiding 1, 2 and 3 – in Changhua county on the central-western coast of Taiwan. The project received environmental impact assessment approvals in 2018, with an approved capacity of around 2 GW.
“We are very pleased to team up again with our strategic partner Corio, this time to develop offshore wind in Taiwan. This marks a new step toward supporting Taiwan’s energy transition, bringing sustainable, low-cost energy to the country,” says Vincent Stoquart, senior vice president – renewables at TotalEnergies.
“We are thrilled to welcome TotalEnergies as our partner in building offshore windfarms in Taiwan,” adds Jonathan Cole, CEO of Corio Generation. “Our two companies have a longstanding relationship and strong track record in developing projects across Europe and Asia-Pacific, and so we are absolutely delighted to be working together again in Taiwan.”
