Turbine installation completed at Taiwan’s Formosa 1 offshore wind farm
Category: #energy-and-environment  By Pranali Mehta  Date: 2019-10-11
  • share
  • Twitter
  • Facebook
  • LinkedIn
Turbine installation completed at Taiwan’s Formosa 1 offshore wind farm

Renewable energy sources have evolved as one of the best alternative sources of energy and have gained importance and recognition on a global scale. As Taiwan imports over 97% of its energy supply from foreign countries, developing an independent renewable energy is a priority for the developing nation. To fulfil this vision, Taiwan has actively initiated new wind and solar projects.

A development was recently made this sector when installation at Taiwan’s first offshore commercial wind farm, the 128MW Formosa 1 project, was announced to be completed; effectively setting a benchmark for the Asian renewable energy sector.

Tsai Chao-yang, Chairman of Swancor Holding, said that the installation of 20 SGRE (Siemens Gamesa Renewable Energy) 6MW turbines in the waters off Miaoli County marks the first offshore wind project in Asia outside of China.

Taiwan’s Minister of Economic Affairs, Shen Jong-chin, has prior claimed that the Formosa 1 wind farm would become fully operational till the end of this year, after it acquires its electricity generation license.

Three years ago, Swancor Holding completed the 1st phase of Formosa 1 by installing two 4MW turbines, becoming a pioneer in offshore wind energy in the island. The government of Taiwan aims to install 5.7GW offshore wind by 2025 and is planning to spur another 5GW by late 2020s.

As per reports, Swancor is prepared to retreat from the sector following this projects completion. In July, the company has announced that it would sell 95% of its Swancor Renewable Energy (SRE) arm, which is the co-owner and co-developer of Formosa 1 and Formosa 2 project, to Stonepeak Infrastructure Partners.

According to Tsai, Stonepeak transaction would complete shortly and Formosa 2 will be the next priority of the Stonepeak-led SRE, with critical tasks consisting of finance and completion agreement with local fishery association.

For the record, the Formosa 2 project is planned to commence construction next year and come online by 2021.

Source Credit - https://www.rechargenews.com/wind/1861345/taiwans-formosa-1-completed-on-big-day-for-asian-offshore-wind

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

Read More >>

More News By Pranali Mehta

EU closes in on banning targeted ads to avoid misuse of sensitive data
EU closes in on banning targeted ads to avoid misuse of sensitive data
By Pranali Mehta

The European Parliament recently approved the initial draft of a bill that prohibits targeted advertising based on sensitive data such as religious beliefs, sexual orientation, race, or ethnic origin. The bill especially aims to address big tech comp...

Ambulance aggregator StanPlus secures USD 20 Mn to scale its offerings
Ambulance aggregator StanPlus secures USD 20 Mn to scale its offerings
By Pranali Mehta

StanPlus, the Hyderabad-based online ambulance aggregator, has reportedly raised USD 20 million in debt and equity during a funding round that was spearheaded by HealthQuad, Kalaari Capital, as well as HealthX Capital Singapore.  The fundraisin...

R&D projects worth USD 5.5 Mn approved under India-Israel tech fund
R&D projects worth USD 5.5 Mn approved under India-Israel tech fund
By Pranali Mehta

As a part of discussions on expanding the reach of India Israel Industrial R&D along with Technological Innovation Fund, the two nations have approved three joint R&D projects costing USD 5.5 million and discussed methods to develop a bigger ...