Synera Renewable Energy (SRE) said it has fully subscribed the 495-megawatt output of its Formosa 4 offshore wind project in Taiwan, marking a key commercial milestone as it seeks support to secure the financing needed to begin construction.
The developer said the construction-ready project achieved full offtake after signing two new corporate power purchase agreements (CPPAs), one with a top-tier corporate buyer and another with a power services provider. These agreements follow an earlier CPPA signed with Taiwan Smart Electricity & Energy.
“We are delighted to see Formosa 4 reach such a significant milestone in its CPPAs,” Lucas Lin, chairperson of Synera Renewable Energy, said in a statement, highlighting the project’s role in supplying large-scale offshore wind power to Taiwan’s export-oriented industries.
Despite securing full offtake, SRE said progress to the construction phase will depend on resolving outstanding financing requirements. The company called for government-backed measures, including accelerated financing support and credit guarantees from local financial institutions, to ensure timely project delivery.
Planned off the coast of Miaoli County, Formosa 4 was awarded capacity under Taiwan’s Phase 3 offshore wind auction in 2022 and received its establishment permit in late 2024, making it the first project in its auction cohort to reach that stage, SRE said.
Once operational, the offshore wind farm is expected to generate about 2 billion kilowatt-hours of renewable electricity annually, contributing to corporate decarbonisation efforts and Taiwan’s broader sustainability goals, the developer added.
