Orsted has reached financial close on a TWD90 billion (€2.7 billion) project financing agreement for its 632-megawatt Greater Changhua 2 offshore wind farm in Taiwan, the company said on Wednesday.
The financing was arranged with 25 banks and five export credit agencies, and represents a key milestone in Orsted’s ongoing strategic divestment and partnership programme.
The Greater Changhua 2 development includes the already operational 2a site and the 2b project, which remains under construction and is scheduled for commissioning by the end of 2025.
Orsted structured the financing at the asset level to facilitate a potential equity divestment once the full project is operational.
“We’ve received very strong support from both international and local banks and export credit agencies,” said Trond Westlie, Orsted’s chief financial officer. “This shows that there is a healthy appetite for premium assets with robust contractual structures, and it’s a clear sign that we’re working diligently to deliver on our divestment and partnerships programme.”
The five export credit agencies involved in the transaction are Export Finance Norway, the Export and Investment Fund of Denmark (EIFO), the Export-Import Bank of Korea, the Export-Import Bank of the Republic of China, and UK Export Finance.
According to Orsted, the financing structure was developed and arranged internally, leveraging the company’s experience in facilitating investment partnerships in offshore wind.
The Greater Changhua offshore wind zone is central to Orsted’s presence in Taiwan, a market the company views as strategically important within its broader Asia-Pacific portfolio.
