Japan-based energy company JERA has taken separate stakes in a Taiwanese offshore wind project and an operational offshore wind farm in the UK. JERA will acquire a 32.5% share of Taiwan’s Formosa 1, having entered into an agreement with Macquarie Capital and Swancor. The transaction remains subject to regulatory approvals. The 128MW Formosa 1 project, off the north-west coast of Taiwan, represents the island’s first utility-scale offshore wind farm. The first phase of 8MW has been in operation for over 18 months. The additional 120MW is under construction with the aim of starting operations by the end of 2019. The project has secured the support of Taiwan Power Company under a 20-year power purchase agreement based on the feed-in tariff scheme. JERA has also agreed to acquire a 24.95% equity interest from Marubeni Corporation in the Gunfleet Sands offshore wind farm in the UK, which has been in operation since 2010. The Gunfleet Sands wind farm, located off the south-east UK coast, has 172.8MW of installed capacity. It is the company’s first acquisition in Europe. While offshore wind is a mature industry in Europe, JERA recognises the sector is at an early stage in Asia, including Japan, with room for growth. JERA, a joint venture between Tokyo Electric Power Company and Chubu Electric Power Company, will also bring to the project its business scale and expertise in conventional power project development. The company will establish operations bases in Taiwan and the UK as part of plans to expand its global business activity.
Japanese energy firm JERA has taken stakes in both Taiwanese and UK offshore wind farms. In a deal with Macquarie Capital and Swancor, the Japanese corporation has bought a 25% stake in Taiwan's 128 MW Formosa 1 project, currently under construction with a 20-year power purchase agreement on the feed-in tariff scheme. Additionally, JERA has acquired a 32.5% equity share from Marubeni Corporation in the 172.8 MW Gunfleet Sands offshore wind farm in the UK, which was first opened in 2010. The Japanese company will set up headquarters in Taiwan and the UK as part of its expansion.