Ørsted Secures $3 Billion for Taiwan Offshore Wind Farm

Danish renewable energy company Ørsted has secured TWD 90 billion (approximately $3 billion) in project financing for its 632MW Greater Changhua 2 offshore wind farm, located off the coast of Taiwan.

The funding arrangement involves a consortium of 25 banks and five export credit agencies, and will support part of the project’s financial requirements. Alongside this, Ørsted is also moving forward with an equity divestment, which is anticipated to be finalized once the wind farm becomes operational.

The Greater Changhua 2 development sits roughly 60 kilometers off Taiwan’s coastline and is composed of two phases: Greater Changhua 2a, which is already in operation, and Greater Changhua 2b, currently under construction. The second phase is expected to enter commercial operation 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. This shows that there is a healthy appetite for premium assets with robust contractual structures,” said Trond Westlie, Ørsted’s Chief Financial Officer.

The successful financing signals strong investor confidence in the project and underscores Taiwan’s growing significance in the global offshore wind market.