Ørsted Secures Multi-Billion Financing for Taiwan Offshore Wind Project
Ørsted has finalized a project financing deal worth approximately TWD 90 billion (USD 3 billion) for its 632 MW Greater Changhua 2 offshore wind farm in Taiwan. The financing package involves 25 banks and five Export Credit Agencies (ECAs), and marks a significant step in Ørsted's strategic focus on divestments and partnerships.
The Greater Changhua 2 project comprises two phases: Changhua 2a, which is already operational, and Changhua 2b, currently under construction and expected to be commissioned by the end of 2025. The wind farm is located 50-60 km off the coast of Changhua County, Taiwan.
Trond Westlie, Group CFO of Ørsted, stated that the strong support from both international and local financial institutions demonstrates investor confidence in well-structured, high-quality renewable energy assets.
The financing was originated and structured by Ørsted and includes guarantees from ECAs in Norway (Eksfin), Denmark (EIFO), South Korea (KEXIM), Taiwan (T-EXIM), and the UK (UKEF).
The transaction supports Ørsted's long-term strategy of developing premium renewable assets while leveraging partnerships and equity divestments to optimize capital deployment.
