Ørsted sells half of Taiwan wind farm for DKK 11.6 Billion

Danish energy company Ørsted is selling a 50% stake in the Greater Changhua 4 offshore wind farm to Cathay Life Insurance, Taiwan’s leading insurance company, for DKK 11.6 billion. The offshore wind farm is part of two parks with a total capacity of 920 megawatts that Ørsted is building in Taiwan, scheduled for completion by the end of 2025. The payment of DKK 11.6 billion will be made during 2024 and 2025, with all necessary regulatory approvals obtained. Ørsted will retain ownership of the remaining 50% of the wind farm. Rasmus Errboe, Ørsted’s deputy and commercial director, values the partnership for promoting offshore wind development in the Asia-Pacific region. Additionally, Ørsted inaugurated Greater Changhua 1 and 2a parks in April, doubling Taiwan’s offshore wind capacity; Ørsted also fully owns Greater Changhua 2b and has three more parks in Taiwan.