A consortium of Japanese investors led by Sojitz Corporation is taking a 27% stake in WPD’s 640MW Yunlin offshore wind farm off Taiwan.
Other members of the consortium are Chugoku Electric Power, Chudenko Corporation, Shikoku Electric Power and JXTG Nippon Oil & Energy Corporation.
WPD added that debt financing for the project from unnamed Taiwanese and international banks is also close to completion.
Offshore construction is scheduled to start in March 2020, the company said.
Yunlin will be located eight kilometres off the coast and comprise 80 Siemens Gamesa 8MW turbines.
WPD head of M&A Helge Rau said: “With the acquisition of the consortium around Sojitz as a co-investor we could achieve another important milestone for the project securing the equity financing of the so far largest offshore wind farm in Taiwan.
“We are looking forward to the co-operation with this group of re-known investors and are well on track to finalise the overall financing of the project in due course.”