TotalEnergies and Corio Generation develop the Formosa 3 project

TotalEnergies and Corio Generation have announced a joint venture partnership to develop the Formosa 3 offshore wind power project located on the west-central coast of Taiwan. The three proposed sites - Haiding 1, 2 and 3 - would have an EIA-approved capacity of approximately 2 GW, with an estimated total investment of several billion dollars from partners and lenders through completion.

Partagez:

TotalEnergies and Corio Generation have announced a joint venture partnership to develop the Formosa 3 offshore wind farm in Taiwan. Under the agreement, Corio will remain the majority shareholder with 50% plus 10 shares in the project, while TotalEnergies will retain the remaining half.

 

Partnership confirmed after Taiwan Round 3 auction

The news comes after Taiwan’s Energy Bureau confirmed in late 2022 that Formosa 3’s Haiding 2 wind farm had successfully secured 600 MW of grid capacity following the first phase of Taiwan’s Round 3 auction.

 

Project with three proposed sites on the West Central Coast

The Formosa 3 project consists of three proposed sites – Haiding 1, 2 and 3 – located on the west central coast of Taiwan in Changhua County. After being cleared by the Environmental Assessment Authority (EAA) in 2018, the facilities would have an EIA approved capacity of approximately 2 GW.

The development of the project would involve an estimated total investment of several billion dollars from partners and lenders until completion. Additional funds will be allocated according to the partners’ individual shares in the project.

Statements by Totalenergies and Corio Generation

“We are very pleased to partner with our strategic partner Corio to contribute to the plans for a green energy transition in Taiwan,” said Vincent Stoquart, Senior Vice President at TotalEnergies. [cela] enables sustainable and affordable energy supply [in Taiwan] and demonstrates our parallel commitment to building a global multi-energy business model that targets 35GW installed by 2025,” he concluded.

“We are delighted to welcome Total Energies as a major shareholder in this project,” said Jonathan Cole, CEO of Corio Generation. “As part of the framework provided by 20GW for divorce planning, the project will certainly contribute to job creation and provide opportunities for local businesses to take part in the transition to a green world,” he explained.

 

This agreement comes after the contracts concluded between the same parties concerning, among others, West of Orkney Windfarm in the United Kingdom, Outer Dowsing in England, or more than 2GW spread over South Korea.

Japan’s Ministry of Industry and Siemens Gamesa Renewable Energy launch a strategic partnership to develop local offshore wind supply chains and strengthen the country's industrial competitiveness in this energy sector.
Energiekontor AG confirms financial close for the Nartum wind farm, adding 23 megawatts to its owned portfolio and starting the construction phase in the Rotenburg district, Lower Saxony.
Airloom Energy begins construction of a pilot site in Wyoming to test an innovative turbine aimed at enhancing American energy security in the face of anticipated growth in electricity demand.
ACCIONA Energía transfers the San Juan de Marcona wind farm to Luz del Sur S.A.A., a major player in Peru's energy sector, for up to USD 253 million, pending necessary regulatory approvals.
German operator Encavis AG strengthens its portfolio by acquiring two wind farms in Lower Saxony and Saxony, totalling 59 MW, in a transaction with Energiequelle GmbH, thereby expanding its renewable energy assets.
Ocergy officially launches an industrial project aiming to install by 2028 a new-generation floating wind turbine of over 15 MW, in partnership with EnBW, Kyuden Mirai, and TEPCO Renewable Power.
France officially commissions its first floating wind farm, consisting of three turbines with a combined capacity of 25 megawatts, introducing strategic technology in the Mediterranean, vital for national energy goals.
Inaugurated on 20 June, the five-turbine plant of wpd onshore France feeds 18 MW into the grid and unlocks new tax revenue for four Côtes-d’Armor municipalities.
Statkraft refocuses investments on flexible Nordic hydropower and reduces commitments in offshore wind and hydrogen to lower operating costs, amid an uncertain economic environment and pressured profitability.
Suzlon Group receives third consecutive order from AMPIN Energy Transition to supply 170.1 MW of wind turbines for a project in India's Andhra Pradesh state, strengthening their strategic industrial partnership.
The Muir Mhòr floating wind project secures Aberdeenshire's onshore consent, paving the way for the potential production of one gigawatt of electricity, enough to power up to 1.2 million British homes by the early 2030s.
Iberdrola España and Renfe conclude a virtual power purchase agreement for 370 GWh per year for ten years, strengthening the use of renewable energy in Spanish railway transport.
TotalEnergies has been awarded a concession in the North Sea enabling the development of a 1GW offshore wind project, reinforcing its strategic presence in Germany.
With an annual increase of 14%, global offshore wind capacity now reaches 85.2 gigawatts, driven mainly by China, the United Kingdom, and Germany, while another 27.3 gigawatts are currently under construction.
Seabed exploration begins in Jammerland Bay to validate the placement of sixteen turbines and the cable corridor, the first tangible step before construction of the project led by TotalEnergies and European Energy.
RWE and Østermark Entreprenørforretning celebrate advanced construction of the operational building for Denmark's largest offshore wind farm, promising up to 60 permanent local jobs by 2026.
RWE and Amazon Web Services enter a strategic collaboration to supply renewable energy for data centres and accelerate digital capabilities within the global energy sector.
SSE Renewables inaugurated its first wind farm in Southern Europe in Chaintrix-Bierges and Vélye, with eight Siemens Gamesa turbines and an investment exceeding €30mn ($32.3mn).
The Astenn Avel consortium, led by Elicio and Q ENERGY, brings in VALOREM to bid for the 500 MW floating wind project planned off the coast of Southern Brittany.
The Canada Infrastructure Bank supports the construction of the Mesgi'g Ugju's'n 2 wind farm, co-owned by Mi'gmaq communities and Innergex, through a combined equity and debt financing package.