Total buys stake in Taiwanese wind farm
Total has signed an agreement with Germany's Wpd to acquire a 23% interest in Yunlin Holding, the owner of Yunlin offshore wind farm located off the coast of Taiwan, it said on April 29.
The project, currently under construction, has a production capacity of 640 MW and benefits from a 20-year guaranteed-price power purchase agreement with the state-owned company Taipower, under which it will receive $250/MWh for its power during the first 10 years of operation and 25/MWh for the following 10 years. Total will pay to Wpd a consideration based on its share of past costs, it said.
Located around 10 km offshore at water depths ranging from 7 to 35 m, the wind farm will comprise 80 wind turbines with a unit capacity of 8 MW. Construction is scheduled to be completed in 2022. Once on stream, the project will produce 2.4 TWh/year of power, enough to serve the power needs of 605,000 households, Total said.
Procurement of the main components has been finalised and marine works are underway. The project reached a major milestone with the installation of the first wind turbine on April 23, Total said.
The project is currently 48%-owned by Wpd, 25% by Electricity Generating Public Company and 27% by a consortium of Japanese investors led by Sojitz Corp.