/  Announcement   /  SRE to develop 4.4GW new offshore wind projects in Miaoli County

SRE to develop 4.4GW new offshore wind projects in Miaoli County

Taipei, September 22, 2020 – Swancor Renewable Energy (SRE) backed by affiliates of U.S.-based Stonepeak Infrastructure Partners is once again at the forefront of the offshore wind market progressing the development of a 4.4GW portfolio of offshore wind projects in the northwestern territorial waters of Miaoli County.

The portfolio would consist of 3 sites: Formosa 4-1, Formosa 4-2 and Formosa 4-3. The sites would cover a large maritime area located 18 to 20 kilometers off the coast of Miaoli County.  The three wind farms combined have a total potential capacity of up to 4.4 GW and would generate enough electricity to power over 4.5 million homes. Currently, both bottom-fixed and floating foundations are under consideration for the portfolio and the choice will be subject to site conditions. SRE lodged these projects with the Taiwan Environmental Protection Agency this week.

SRE led the development on Formosa 1 (128MW) and Formosa 2 (376MW), which are now in operations and in construction, respectively. Subject to the completion of the environmental impact assessment process and securing the requisite government approvals, project contracts and financing, SRE expects that the Formosa 4 wind farms would achieve operations post-2025.

Lucas Lin, Chief Executive Officer of SRE, noted: “SRE has been preliminarily developing Formosa 4 since 2019.  We are excited to support Taiwan Government’s ambitious offshore wind renewable energy target.  Through the development of Formosa 4, we are dedicated to growing the local supply chain and realizing our vision of becoming a regional leader in the renewable energy industry.  We will be leveraging our development experience from Formosa 1 and Formosa 2 with our new portfolio and are looking forward to extending our relationships with the Miaoli County Government and the local stakeholders.”

Hsu, Yao-Chang, Miaoli County Magistrate, who is supportive of SRE's announced development plan stated, “Miaoli County’s unique natural resources make the county the most suitable for the development of offshore wind in Taiwan. Miaoli County is actively developing our local renewable energy supply chain to support the expected development in the region. SRE delivered Taiwan’s first commercial-scale offshore wind farm, Formosa 1 Wind Power, and the County Government fully supports SRE continued commitment to Miaoli. We look forward to their continued support of the local marine economy, engagement with local stakeholders and introduction of more offshore wind farms.”