- Published: 05 June 2018 05 June 2018
Enterprize Energy Pte. Ltd. (EEPL) and Mitsui & Co (Mitsui) have signed strategic joint venture investment agreements for the Taiwanese offshore wind sector. As part of the agreements, Mitsui has acquired a 50% stake in EEPL subsidiary Yushan Energy Company Ltd (YECL), which owns a 40% interest in the Hai Long offshore wind development in the Taiwan Strait between that Island and mainland China.
The Hai Long offshore wind development is a joint venture between YECL and Canada’s Northland Power Inc. The Taiwan Bureau of Energy recently allocated 300MW to one of the Hai Long projects, the Hai Long 2 wind farm, under Taiwan’s feed in tariff programme. This acquisition represents Mitsui’s first entry into the booming Taiwanese offshore wind sector. Enterprize aims to use Taiwan as a base from which to expand its operations into other ASEAN countries, and to develop export potential for Taiwanese contractors and suppliers.