Japanese company Jera is to take a 49% interest in the 376MW Formosa 2 offshore wind farm off Taiwan.
Jera said it has entered into an agreement to acquire the stake from Macquarie Capital with support from Development Bank of Japan.
Completion of the transaction is subject to regulatory approvals, Jera said.
Macquarie will continue to hold an interest in the project, together with Taiwan company Swancor.
The latter, however, is in the process of selling 95% of its renewables arm to US investor Stonepeak Infrastructure Partners.
Jera is already an investor in the 120MW Formosa 1 phase two project (pictured) in Taiwan with Orsted, Macquarie and Swancor.
Formosa 2 will feature 47 Siemens Gamesa 7MW turbines and has secured a 20-year power purchase agreement with Taiwan Power Company.
Jera said that it has also established an operation base in Taiwan to expand business activity and dispatch engineers to contribute to the project and to gain knowledge and experience in construction and operation of offshore wind farms.