WPD plots Asian adventure
Financial advisor hired to help raise funds for Taiwanese offshore projects
German developer WPD has appointed Sumitomo Mitsui Banking Corp as financial advisor to help raise funds for the 700MW Yunlin and 360MW Guanyin offshore wind farms in Taiwan.
Discussions are already underway with international and local banks regarding funding and financial close on the projects is expected by the end of the year, WPD said.
Guanyin has had its environmental impact assessment (EIA) approved, while Yunlin has passed an EIA review, the company said.
It added that grid connections have been confirmed and plans for the onshore substations finalised.
WPD is aiming to commission both wind farms in 2020 under a 'fast track' process in phase two of the Taiwanese government's offshore wind legislative framework.
Taiwan has set a target of 5.5GW of offshore wind by 2025.