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COPENHAGEN - Danish renewable energy company Ørsted A/S has secured approximately TWD 90 billion (DKK 20 billion) in project financing for its 632 MW Greater Changhua 2 offshore wind farm in Taiwan, according to a company press release.
The financing package involves 25 banks and five export credit agencies, including Export Finance Norway, the Export and Investment Fund of Denmark, the Export-Import Bank of Korea, Export-Import Bank of the Republic of China, and UK Export Finance.
Greater Changhua 2 is located 50-60 kilometers off the coast of Changhua County, Taiwan. The project consists of two segments: Greater Changhua 2a, which is already operational, and Greater Changhua 2b, which is under construction with commissioning expected by late 2025.
"We’ve received very strong support from both international and local banks and export credit agencies for the project financing of Greater Changhua 2," said Trond Westlie, Group CFO of Ørsted.
The financing arrangement is part of Ørsted’s broader strategy that includes an equity divestment plan for the project, expected to be completed after the wind farm becomes fully operational.
While Ørsted typically funds its activities at the group level, the company stated that this transaction represents progress on its partnership and divestment program as well as its strategic priorities.
The financing deal demonstrates continued investor interest in renewable energy infrastructure despite recent challenges in the offshore wind sector. This transaction marks a significant step in Ørsted’s ongoing efforts to optimize its capital structure while developing major renewable energy assets.
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