A European company has expressed an interest in taking over Jera Energy Taiwan Co’s role in developing the Formosa 3 offshore wind project, the Ministry of Economic Affairs (MOEA) said yesterday.
The ministry’s remarks came after the Nikkei Shimbun reported that Jera Co, parent company of Jera Energy Taiwan, is exiting the Formosa 3 offshore wind farm project in Taiwan because of concerns over high construction costs, low profitability and escalating geopolitical tensions across the Taiwan Strait.
The Japanese company plans to sell its 44 percent ownership in the yet-to-be-built Formosa 3 project, the report said.
Photo: Lin Jing-hua, Taipei Times
Formosa 3, a wind development partnership between Jera Co and Corio Generation, will have a total capacity of 2 gigawatts. The wind farm is located off the coast of Changhua County.
Scheduled to start operations in 2026, the project is expected to cost about ￥1 trillion (US$7.55 billion), the report said.
Jera Energy Taiwan yesterday reiterated its “unwavering dedication to the existing projects in Taiwan.”
“We are fully committed to collaborating with our partners to ensure the successful delivery and operation of the projects,” the company said in a statement posted on its Web site.
“Jera Energy Taiwan strives to continuously make contributions to Taiwan’s energy transition efforts,” it said.
Jera intends to keep its interest in the Formosa 1 wind power project, launched in 2019, and the nearby Formosa 2 project, which is preparing to start operations after the last of its 47 wind turbine generators was installed last month.
The ministry yesterday said that geopolitical tension is not a concern for global wind developers investing in Taiwan’s offshore wind farm developments.
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