Japanese Utility Joins Formosa 3

JERA now holds 43.75% of the project, with GIG holding 31.25% and EnBW 25%, retaining material stakes and remaining committed to the ongoing development.

The Japanese utility’s entry into Formosa 3 extends its relationship with GIG formed in Taiwan through their partnerships on the Formosa 1 and Formosa 2 offshore wind projects.

“GIG and JERA have established a strong and successful relationship in Taiwan’s offshore wind market, and we’re delighted to further deepen that partnership through Formosa 3,” said Mark Dooley, Global Head of Green Investment Group.

“Taiwan is fast becoming Asia’s foremost offshore wind market. We’re extremely proud that through Formosa 3, and our working on a range of renewable energy technologies, our Taipei-based team are playing a key role in Taiwan’s green energy transition.”

Formosa 3 comprises three separate sites, with a total potential capacity of 2GW, located offshore the Changhua county off the central-western coast of Taiwan.

GIG and EnBW have been developing the project to date and intend to pursue capacity in Taiwan’s next round of grid allocations, expected this year. Formosa 3 achieved its Environmental Impact Assessment approval in 2018.