German company WPD is close to completing financing for the 640MW Yunlin offshore wind farm in Taiwan, with investors potentially taking up to a 49% stake in the project.
The funding involving a group of unnamed investors and banks will be finalised in a few weeks, WPD said.
It added that both debt and equity finance will make up the funding package.
WPD board member Achim Berge Olsen said: “As with all our previous projects, for Yunlin, too, we are able to rely on strong, well-known partners as investors who this time can take a maximum stake of 49% in this project.
“Although we have discovered that there is great interest with regard to capital, not least from the Asian region, and we are several times oversubscribed, we will remain the majority shareholder with over 50% equity, and we will manage Yunlin with our team.
“On the debt side, we can see strong commitment on the part of the Taiwanese banks. For us it is very important to be able to integrate the know-how of the local financial institutions.”
SMBC is acting as financial consultant and Bank of Taiwan is co-advisor with E-Sun.
Yunlin will comprise 80 turbines with individual capacity of 8MW. The first half of the wind farm will be commissioned by 2020 and the other half in 2021, WPD said.