Skyborn secures financing to complete delayed 640MW Yunlin offshore wind farm in Taiwan
Covid fallout and financial woes at former lead developer delayed project, but Yunlin is moving toward conclusion with GIP-owned developer
Skyborn Renewables and its partners in the Yunneng Wind Power consortium have secured an extended financing agreement to complete the construction of the 640MW Yunlin offshore wind farm project in Taiwan.
Skyborn, an offshore wind developer with roots in Germany and owned by US private equity giant Global Infrastructure Partners (GIP), partners on Yunlin with French oil major TotalEnergies, Thai utility Electricity Generating Public Company Ltd. (EGCO) and Japanese trading house Sojitz.
“This is a major milestone for the Yunlin project and the offshore wind industry in Taiwan,” stated Skyborn CEO Thomas Karst, who described the 2023 installation campaign as “well on track” and preparations for the 2024 installation campaign as “almost completed”.
Electricity from the Yunlin project is committed to Taiwan Power Company (Taipower) under two 20-year power purchase agreements and expected to produce enough clean energy to serve the energy needs of more than 600,000 Taiwanese households.
The Yunlin offshore wind farm project is located in shallow waters in the Taiwan Strait. An 82 square kilometre area will host 80 wind turbines, connecting to the Taiwanese power grid via two onshore substations.
Skyborn Renewables was forged from the 2022 acquisition, by GIP, of the offshore wind business that was built up by Germany's Wpd Offshore.
Covid-19-related issues amplified the challenge to complete the project in time, which originally was planned for 2020.
(Copyright)