Renewable energy developers TotalEnergies and Corio Generation will jointly develop the Formosa 3 offshore wind project in Changhua county off the coast of Taiwan, TotalEnergies announced in a Feb. 16 press release.
Formosa 3 includes three potential windfarms—Haiding 1, 2 and 3. Environmental Impact Assessment (EIA) approvals were completed in 2018 with an approved capacity of around 2 gigawatts (GW). In December 2022, Taiwan’s Bureau of Energy awarded Haiding 2 600 megawatts (MW) of grid capacity in its round 3 of auctions.
Under the joint venture agreement, Corio is the majority shareholder and lead developer with 50% and 10 shares overall in project.
The wind farm project adds to both companies’ extensive renewable energy portfolios, with Total and Corio also having developed wind energy projects together in the U.K., South Korea and France, both offshore and onshore.
“Our two companies have a longstanding relationship and strong track record in developing projects across Europe and Asia-Pacific and so we are absolutely delighted to be working together again in Taiwan,” said CEO of Corio Jonathan Cole. “Corio has one of the largest offshore wind project portfolios worldwide with more than 20 GW in development.”
“This marks a new step toward supporting Taiwan’s energy transition, bringing sustainable, low-cost energy to the country,” said TotalEnergies’ Vincent Stoquart, senior vice president renewables. “It also demonstrates our dedication to build up our global multi-energy business model through a series of investments to grow our worldwide renewable portfolio from 17 GW in 2022 to 35 GW in 2025, in line with our ambition to be one of the top 5 renewables developers by 2030.”
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