The Danish Ørsted Group has secured financing for one of its key strategic projects in Asia: the Greater Changhua 2 offshore wind farm, located off the coast of Changhua County, Taiwan. The company has succeeded in closing a financing package of approximately TWD 90 billion (about DKK 20 billion) backed by 25 banks and five international export credit agencies.
Greater Changhua 2 project financing
This development is part of its asset-level financing structure, a model that allows Ørsted to diversify risks and attract external capital to accelerate the development of sustainable energy infrastructure. The backing includes guarantees from agencies such as Eksfin (Norway), EIFO (Denmark), KEXIM (Korea), T-EXIM (Taiwan) and UKEF (United Kingdom), reinforcing international confidence in the project.
Greater Changhua 2 is composed of two sections: 2a, already operational, and 2b, currently under construction with commissioning scheduled for the end of 2025. Together they will provide a total installed capacity of 632 MW, which will contribute significantly to Taiwan’s energy transition plan and regional decarbonization goals.
According to Ørsted CFO Trond Westlie, this financial transaction demonstrates the firm’s “healthy appetite for premium assets with strong contractual structures. He also stressed that the firm continues to advance its partnership and divestment program, a strategic pillar to sustain its leadership in renewable energy.
Headquartered in Denmark and with a global presence, Ørsted is considered one of the most committed energy companies to climate action. This new step in Taiwan consolidates its role in the development of offshore wind energy in Asia and strengthens its position in the international market for sustainable projects.
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Source and photo: Ørsted
