DNV has acted as Lenders’ Technical Advisor for the financing of Orsted’s 632MW Greater Changhua 2 offshore wind farm in Taiwan, which reached financial close in July.
Located 50–60km off the coast of Changhua County, the development includes the operational Greater Changhua 2a and the under-construction Greater Changhua 2b. The financing is backed by 25 banks and five export credit agencies.
DNV’s role covered an independent energy yield assessment and full technical due diligence of the wind farm and associated transmission assets.
Vice president and regional director, APAC, energy systems, Brice Le Gallo said: “DNV’s appointment as Lenders’ Technical Advisor reflects our deep offshore wind expertise, deep knowledge of Taiwan environment, and longstanding relationship with Orsted.
“The financial close represents a major milestone in Taiwan’s energy transition and ensures further progress on Orsted’s strategic divestment and partnership programme. It demonstrates strong lender confidence and sets a benchmark for future offshore wind projects in Asia, particularly those involving advanced turbine technology and complex geotechnical conditions.”
APAC offshore wind segment lead, energy systems, Ming Hui Zhang added that DNV’s independent technical assurance “has contributed to a confident and timely financial close for this complex, large-scale offshore wind project, which is situated in a seismic and typhoon-prone region.”
The project will generate enough clean energy to power hundreds of thousands of homes while supporting local jobs and supply chain growth.
It forms part of Taiwan’s target to install 5.7GW of offshore wind by 2025 and 15GW by 2035.
DNV said offshore wind is forecast to grow 12% annually until 2050 and will play a pivotal role in the global energy mix.