Formosa 2 Makes Steady Progress With 12 Turbines Installed and First Power Delivery

Taipei – July 21, 2022 – Taiwan’s Formosa 2 offshore wind project has passed two major construction milestones, completing the installation of 12 turbines and successfully transmitting power to the national grid. The passing of these construction milestones demonstrate that Formosa 2 continues to make steady progress towards commercial operation, at which point it will supply power to approximately 380,000 households.

With the support of the project sponsors, engineering, financing and supply chain partners, the Formosa 2 team has been working diligently throughout the construction phase. Despite challenging weather conditions this year, the team has utilized all available weather windows and made steady progress.

Michael Klingele, Project Director of Formosa 2 said: “Despite facing challenges posed by recent weather conditions, the team has persisted in advancing construction works, with strong health, safety and environmental performance and high sustainability standards. We are fully committed to ensuring the project becomes a pivotal driver in Taiwan’s green energy transition.”

The installation of the jacket foundations and subsea Inter-Array Cables began in April and May respectively, and the turbine installation commenced in the beginning of June. The project has now completed more than half of the underwater foundation installations and more than a quarter of the turbines has been installed.

The project, which will have an installed capacity of 376 MW on completion, is being developed by JERA, Macquarie’s Green Investment Group (GIG) and Swancor Renewable Energy (SRE). GIG is supported by its portfolio company, Corio Generation.

Since the beginning of the project, the Formosa 2 team have been dedicated to bringing benefits to the local supply chain and supporting jobs in the offshore wind industry. In addition to its collaboration with the National United University in Miaoli, Formosa 2 has also held an art competition to expand green energy education to local middle and elementary schools, laying a solid foundation for future green talent.

About Formosa 2
The Formosa 2 Offshore Wind Farm project is being jointly developed by JERA (49%), Macquarie’s Green Investment Group (26%) and Swancor Renewable Energy (25%). Once Formosa 2 has been completed, the wind farm will provide 376 MW of green electricity to supply power to approximately 380,000 households.

Formosa 2 is committed to localization and has been working closely with local consultancies, including Unitech, CECI and Sinotech, on tasks such as obtaining permits and on-shore electrical system concept design. Formosa 2 has also cooperated with NCKU, NTOU, NTU and other universities to conduct site survey and analysis for planning.

To promote talent localization in the wind power industry, the “Formosa 2 offshore wind expertise program” which was jointly developed by Formosa 2 and National United University started enrollment in 2018. Formosa 2 will also set-up marine mammal observer training program for local fishermen.

For more information, visit: https://formosa2windpower.com/

About Swancor Renewable Energy
Swancor Renewable Energy (SRE) is a pioneer in the offshore wind sector of Taiwan. The company has dedicated itself to developing offshore wind power since as early as 2012. In October 2016, it independently planned and installed two demonstration wind turbines for Phase 1 of Formosa 1, Taiwan’s first-ever offshore wind farm. Afterward, by collaborating closely with international partners, SRE installed 20 wind turbines for Phase 2 between 2018 and 2019. With a total installed capacity of 128 MW, Formosa 1 commenced commercial operation at the end of 2019 and became Taiwan’s first offshore wind farm in commercial operation.

Following the landmark Formosa 1, SRE is now actively participating in the planning and construction of Formosa 2, its second large-scale offshore wind project, which is located off the coast of Miaoli County and has a total installed capacity of 376 MW.

SRE is headquartered in Taipei City and committed to providing professional and reliable services of renewable energy development, construction, and asset management for its clients.
For more information, visit https://www.swancor-renewable.com/en/

About JERA
Established in 2015, JERA is an equal joint venture of two major Japanese electric companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company. JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG and other fuel resource projects and fuel procurement, through fuel transportation to power generation.

JERA’s mission is to provide cutting edge solutions to the world’s energy issues, by offering energy supply models established in Japan through JERA’s global operations to other countries.

JERA’s energy solutions focus mainly on two businesses: the LNG value chain business and the large-scale renewable energy business centered on offshore wind power generation. These businesses are complementary; renewable energy with variable power generation output is complemented by flexible, clean LNG thermal power generation. With demand expected to grow globally, particularly in Asia, JERA aims to become a leader in these two businesses.

Learn more about JERA: https://www.jera.com.tw/

About Macquarie’s Green Investment Group
Green Investment Group (GIG) is a specialist green investor within Macquarie Asset Management, and a global leader in the development of companies, assets and technologies that aim to accelerate the global transition to net zero. Initially launched by the UK Government in 2012 as the Green Investment Bank, it was the first institution of its type in the world. Acquired by Macquarie in 2017, GIG has grown to become one of the world’s largest green investors with a development pipeline of more than 30 GW in over 25 markets, spanning established renewables and emerging green technologies.

Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage more than GBP394.6 billion in assets globally, Macquarie Asset Management provides access to specialist investment expertise across a range of capabilities including fixed income, equities, multi-asset solutions, private credit, infrastructure, renewables, natural assets, real estate, and asset finance.

Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Founded in 1969, Macquarie Group employs approximately 17,209 people in 33 markets and is listed on the Australian Securities Exchange.
All figures as at 31 March 2022.

For more information, visit greeninvestmentgroup.com and macquarie.com

About Corio Generation
Corio Generation is a specialist offshore wind business, dedicated to harnessing renewable energy worldwide. With a unique blend of sector-leading expertise and deep access to long-term capital, we work closely with our partners in the creation and management of projects from origination, development and construction, and into operations.

Our 20+ GW offshore wind development portfolio is one of the largest in the world, spanning established and emerging markets, as well as floating and traditional fixed-bottom technologies. These next generation offshore wind projects will help form the backbone of the net-zero global energy system while meeting the energy needs of communities and corporate offtakers sustainably, reliably, safely and responsibly.

Corio Generation is a Green Investment Group (GIG) portfolio company, operating on a standalone basis. GIG is a specialist green investor within Macquarie Asset Management, part of Macquarie Group.

For further information, visit www.coriogeneration.com