Ørsted signed an agreement with Cathay Life Insurance and its affiliate Cathay Power under which the Cathay group will acquire a 55% ownership stake in the 632 MW Greater Changhua 2 offshore wind project in Taiwan.
The site is located about 50–60 km off Changhua County and comprises two phases: Greater Changhua 2a (295 MW), which is operational, and Greater Changhua 2b (337 MW), which Ørsted is currently constructing. Commissioning of Greater Changhua 2b is expected in Q3 2026. Under the agreement, Ørsted will deliver long-term operations and maintenance services from its O&M hub at the Port of Taichung.
The transaction value for the 55% equity stake is approximately DKK 5 billion (around TWD 25 billion) and reflects existing project financing arrangements. Closing is planned to occur when the project reaches commercial operations, expected in Q3 2026.
In July 2025, Ørsted reached financial close on a project financing package of approximately DKK 20 billion for the full Greater Changhua 2 project.
Ørsted said the agreement forms part of its partnership and divestment programme and supports its capital structure priorities. With this agreement, Ørsted has signed divestments with proceeds totalling around DKK 33 billion during 2025, bringing it close to its target of securing more than DKK 35 billion in proceeds through its partnership and divestment programme in 2025 and 2026.
Source: Company Press Release
