Synera Renewable Energy Group has signed a long-term Corporate Power Purchase Agreement (CPPA) with Taiwan Smart Electricity & Energy (TSEE) for 495MW from the Formosa 4 offshore wind project. The agreement is part of Synera’s strategy to secure long-term revenue and strengthen the financial foundation of the project ahead of grid connection.
The CPPA allocates a fixed portion of the electricity generated by the Formosa 4 wind farm to TSEE once it is connected to the grid. TSEE will then trade the electricity via its digital platform, enabling industrial clients to access renewable energy as part of their carbon reduction policies.
Formosa 4, first approved project of the third auction round
Synera obtained development rights for the Formosa 4 project during the first phase of Taiwan’s third offshore wind auction round in 2022. The establishment permit was granted in 2024, making Formosa 4 the first approved project among that round’s winners. Located 18 to 20 kilometres off the coast of Miaoli County, the site has a maximum potential capacity of 1,104MW.
In September, Synera awarded Siemens Gamesa the contract to supply 35 wind turbines with a unit capacity of 14MW for the Formosa 4 development. The project is structured to address the continued growth in demand for green electricity on the Taiwanese market, particularly from the private sector.
A response to the growing need for stable supply
Synera Chairperson Lucas Lin stated that the agreement with TSEE provides “long-term revenue stability” and enables access to “stable and reliable” renewable energy for a wider range of corporate offtakers. According to the developer, the wind farm is expected to power around 500,000 households annually once operational.
This type of agreement reflects the rise of direct renewable electricity purchases by private entities in Asia, driven by national policy incentives and growing pressure across supply chains. TSEE plans to integrate this electricity into its offers for companies seeking to stabilise energy costs while diversifying their supply sources.
