Ørsted has entered into an agreement with 25 banks and 5 export credit agencies for a project financing package of approximately DKK 20 billion for the 632 MW Greater Changhua 2 offshore wind farm off the coast of Taiwan. Ørsted A/S announced this in a press release.
The financing is part of the overall structure of the project and will be followed up by Ørsted's planned divestment of shares, which is expected to be completed when the plant is commissioned. Greater Changhua 2 consists of two parts: 2a, which is already in operation, and 2b, which is under construction and is expected to be commissioned in late 2025.
- We have experienced strong support from both international and local banks and export credit institutions for the project financing of Greater Changhua 2. This shows that there is a good appetite for high-quality facilities with robust contractual structures, and it is a clear sign that we are working hard to deliver on our divestment and partnership program, says Trond Westlie, Group CFO of Ørsted.
The project financing package has been initiated by and structured by Ørsted and is supported by guarantees from 5 export credit institutions: Export Finance Norway (Eksfin), Danish Export and Investment Fund (EIFO), Export-Import Bank of Korea (KEXIM), Export-Import Bank of China (T-EXIM) and UK Export Finance (UKEF).
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