Ørsted has reached financial close on a project finance package for the 632 MW Greater Changhua 2 offshore wind farm in Taiwan. The financing forms part of the overall structure for the project, alongside an equity divestment process that Ørsted expects to complete once the project becomes operational.
The funding, amounting to approximately TWD 90 billion (around DKK 20 billion), was secured through 25 banks and five export credit agencies. Greater Changhua 2 consists of the operational 2a section and the 2b section, which is under construction and scheduled for commissioning by the end of 2025. The site is located 50–60 kilometres off the coast of Changhua County.
The asset-level financing was originated and structured by Ørsted and is backed by guarantees from five export credit agencies: Export Finance Norway (Eksfin), the Export and Investment Fund of Denmark (EIFO), the Export-Import Bank of Korea (KEXIM), Export-Import Bank of the Republic of China (T-EXIM), and UK Export Finance (UKEF).
