Orsted has reached financial close on a project finance package to raise around TWD 90 billion for the Greater Changhua 2 project.
It is a 632 MW offshore wind farm and is located about 50 to 60 km off the coast of Changhua. The project consists of Greater Changhua 2a and Greater Changhua 2b. Greater Changhua 2a is operational, whereas Greater Changhua 2b is under construction and is expected to be commissioned towards the end of 2025. The asset-level project financing package was originated and structured by Ørsted. Furthermore, it will be supported by guarantees from five Export Credit Agencies. The agencies are 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.