Synera Renewable Energy has fully subscribed the 495MW output of its Formosa 4 offshore wind project and is calling for government and local financial institutions to help resolve key financing requirements needed to start construction.
The developer said the construction-ready scheme reached full offtake after signing two new corporate power purchase agreements, one with a top-tier company and the other with a power services provider, following an earlier CPPA with Taiwan Smart Electricity & Energy.
“We are delighted to see Formosa 4 reach such a significant milestone in its CPPAs,” said Lucas Lin, chairperson at SRE, noting the project’s role in supporting Taiwan’s export-oriented industries with large-scale offshore wind.
SRE said government-backed acceleration of financing and credit guarantees is essential to move the project into the build phase and ensure timely delivery of clean power for corporate decarbonisation and national sustainability goals.
Planned off Miaoli County, Formosa 4 secured capacity in Taiwan’s Phase 3 auction in 2022 and received its establishment permit in late 2024, becoming the first in its cohort to do so.
The company added that once operational the project is expected to generate around 2 billion kWh of green electricity a year.