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Pine wind power to acquire 26% Interest in formosa 2 offshore wind farm
The Business Guardian
|January 25, 2025
Pine Wind Power Co., Ltd (Pine Wind) has entered into an agreement to acquire from Macquarie Asset Management (Macquarie) its 26% equity and debt interest in Formosa 2 International Investment Co., Ltd, a 376MW operational offshore wind farm located off the coast of Miaoli County (Formosa 2 Offshore Wind Farm).
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The proposed investment will be acquired through J&V Energy’s wholly owned subsidiary, Pine Wind, and will be supported by capital commitments from its partners, Taiwan Life Insurance Co Ltd and He Jun Energy Co Ltd. As part of the transaction, JV Asset Management Co Ltd (JVAM), a J&V Energy affiliate, will provide long-term asset management services to its partners.
The Formosa 2 Offshore Wind Farm is comprised of 47 Siemens Gamesa 8.0MW wind turbine generators which have been connected to the grid since March 2023, supplying power to approximately 380,000 Taiwanese households per year. Macquarie developed the Formosa 2 Offshore Wind Farm, one of Taiwan’s first large scale offshore windfarms in partnership with JERA and Synera Renewable Energy.
This story is from the January 25, 2025 edition of The Business Guardian.
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