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Milestones

Milestones

2022.6

  • For equal access to educational resources, the illustrated book Out in Full Force! Let’s Catch the Wind Monster Ininhoo is converted to digital resources accessible for visually challenged users. To bring the knowledge of offshore wind power to more people, Swancor Renewable Energy (SRE) teams with the National Taiwan Library to scale up the energy education campaign and donates the book to 300 public libraries across six counties.

2021.9

  • Committing to environmental and sustainability education, Swancor Renewable Energy (SRE) collaborates with ECUS Publishing House and publishes Out in Full Force! Let’s Catch the Wind Monster Ininhoo, the first illustrated children’s book featuring offshore wind power in Taiwan. Such an achievement is unprecedented in the industry and turns a new page in energy education in Taiwan. For the first print run, 238 copies are donated to 119 schools in Miaoli County, that is, two books for each school. Furthermore, the traveling exhibition has also been officially launched.

2021.7

  • Swancor Renewable Energy (SRE), Tien Li Offshore Wind Technology, Yeong Guan Energy, and J&V Energy Technology jointly build the Taiwan Team, a consortium comprising a leading local developer and suppliers, the first of its kind in Taiwan.
  • In response to the Ministry of Economic Affairs’ promulgation of the bidding mechanism under the Directions of Grid Capacity Allocation for Offshore Wind Energy Zonal Development for the third phase, the development team adjusts the development strategy for the next three years. Accordingly, the fixed-bottom offshore wind project “Formosa 4-3” and the floating offshore wind project “Formosa 4-2” are renamed “Formosa 4” and “Formosa 5” respectively. In addition, we create a unique corporate identity system for each project, which not only builds the brand identity for this portfolio, but also clearly demonstrates the technical characteristic and positioning of each project, thereby making them shine their own light.

2020.9

  • Swancor Renewable Energy (SRE) announces a large-scale 4.4 GW portfolio comprising Formosa 4-1, Formosa 4-2, and Formosa 4-3, and officially submits the environmental impact statement (EIS) to apply for the environmental impact assessment (EIA) review to the Environmental Protection Administration. The portfolio considers adopting both bottom-fixed and floating foundations. Upon completion, the projects are expected to power up to 4.5 million households per year.

2020.7

  • Swancor Renewable Energy (SRE) unveils its new logo and headquarters located in Xinyi District, Taipei, which symbolizes a new beginning for the company.

2019.10

  • Installation of 20 wind turbines with a total capacity of 120 MW is completed for Phase 2 of Formosa 1 Offshore Wind Farm, Taiwan’s first offshore wind farm. With this addition, the installed capacity of the two phases combined reaches 128 MW. Afterward, the wind farm enters commercial operation, which marks the completion of construction for Taiwan’s first commercial offshore wind farm.
  • Changes in the shareholder structure of Formosa 2: JERA (49%), Macquarie’s Green Investment Group (26%), and Swancor Renewable Energy (25%).

2019.7

  • Swancor Holding signs a deal to sell a 95% stake in Swancor Renewable Energy Co., Ltd. to Stonepeak Infrastructure Partners, a New York-based leading alternative investment firm. Swancor Holding retains a 5% stake in Swancor Renewable Energy and one board seat to ensure that the experience of developing and building offshore wind farms in Taiwan can be passed on in the company.
  • Formosa 2 Offshore Wind Farm, which has a total installed capacity of 376 MW, is also located off the shore of Zhunan Township of Miaoli County. The shareholders of Formosa 2 are Macquarie’s Green Investment Group (75%) and Swancor Renewable Energy (25%).

2019.5

  • As of April 2019, the two demonstration wind turbines for Phase 1 of Formosa 1 Offshore Wind Farm have generated 55 million kWh of electricity which can power around 15,000 households.
  • The offshore construction for Phase 2 of Formosa 1, which has a capacity of 120 MW, officially kicks off.

2018.12

  • Formosa 2 Offshore Wind Farm and Taiwan Power Company sign the Offshore Wind Power Purchase Agreement which will last for twenty years as from the day of the first connection in accordance with the Renewable Energy Development Act and Electricity Act.
  • Changes in the shareholder structure of Formosa 1: Ørsted (35%), JERA (32.5%), Macquarie Capital (25%), and Swancor Holding (7.5%).

2018.6

  • Formosa 1 Offshore Wind Farm, the first commercial-scale offshore wind farm in Taiwan, reaches a financial close. The NT$18.7bn 16-year project financing is provided by 11 local and international banks, becoming the first offshore wind project financing in Asia.
  • This is also the first project financing in Taiwan that complies with the Equator Principles. The financing is provided by Cathay United Bank, Taipei Fubon Commercial Bank, EnTie Commercial Bank, KGI Bank, BNP Paribas, Crédit Agricole Corporate and Investment Bank, DBS Bank, ING Bank, MUFG Bank, Société Générale, and ANZ Banking Group. Furthermore, this is the first participation of Denmark’s Export Credit Agency (EKF) in project financing in Taiwan. As indicated above, this financing represents a number of firsts in Taiwan.

2018.03

  • To fulfill the government’s target of delivering 520 MW of offshore wind power by 2020, Swancor Renewable Energy and Siemens Gamesa Renewable Energy sign a Memorandum of Understanding (MoU) on wind turbines for Formosa 2 Offshore Wind Farm.
  • The electricity generation capacity of Formosa 2 Offshore Wind Farm totals 376 MW which is expected to power around 380,000 households per year. Upon completion of Formosa 2, the total installed capacity of offshore wind farms in Taiwan will surpass 500 MW.

2017.12

  • Formosa I Wind Power Co., Ltd signs the Offshore Wind Power Purchase Agreement with Taiwan Power Company. This marks the first offshore wind power purchase agreement in Taiwan which will be effective for twenty years from the day of the first connection (day of meter installation) in accordance with the Renewable Energy Development Act and Electricity Act.

2017.04

  • Formosa 1 Offshore Wind Farm obtains the first electricity enterprise license for offshore wind in Taiwan issued by the Ministry of Economic Affairs and officially starts its commercial operation, which ushers in a new chapter of offshore wind development in Taiwan.
  • The power generated by the two demonstration wind turbines of Phase 1 is enough to cover the electricity needs of 8,000 households per year, reducing CO2 emissions the amount of which equals that reduced by 40 Daan Forest Park.

2017.1

  • Swancor Holding, Macquarie Capital, and Ørsted (formerly Dong Energy) sign an agreement for joint investment and management of Formosa I Wind Power Co., Ltd. The shareholder structure is Ørsted (35%), Macquarie (50%), and Swancor Holding (15%).

2016.12

  • Bureau of Energy of the Ministry of Economic Affairs purchases 500,000 kWh of electricity from Formosa 1 Offshore Wind Farm, which can reduce 264 tonnes of CO2 emissions – in other words, the amount of CO2 emissions reduced by 0.7 Daan Forest Park.

2016.10

  • On October 27, Swancor Renewable Energy Team completes the lifting and installation of two demonstration wind turbines for Formosa 1 Offshore Wind Farm located off the coast of Zhunan Township of Miaoli County solely by itself, marking a milestone in the history of offshore wind development in Taiwan.

2016.5

  • Formosa 1 Offshore Wind Farm obtains a NT$ 2.5 billion syndicated loan with a maturity of 5 years for the installation of two offshore wind turbines from Cathay United Bank, EnTie Commercial Bank, and BNP Paribas Taipei Branch.

2015.8

  • Swancor Renewable Energy Team spends nearly four months on installing the meteorological mast for Formosa 1 Offshore Wind Farm, the first commercial-scale offshore wind project in Taiwan off the coast of Zhunan Township of Miaoli County, and holds the inauguration ceremony of the met mast in Longfeng Fishing Port.

2015.1

  • Swancor Renewable Energy Co., Ltd. which specializes in the development of offshore wind power is officially launched.

2013.4

  • Swancor establishes Swancor Renewable Energy Team to officially expand into the development of offshore wind power in Taiwan.