The Hai Long Offshore Wind Project has completed an additional NT$55 billion financing package, bringing the total number of financial institutions supporting the development to 35.
The project is jointly invested in and developed by Mitsui & Co., Northland Power Inc. and Gentari. The new package was arranged within the project’s existing financing structure and adds further funding as construction continues.
The original seven Export Credit Agencies and the existing lending group remain involved. The latest financing also includes participation from the National Credit Guarantee Administration and 17 financial institutions.
Six current lenders increased their commitments: Taipei Fubon Commercial Bank, The Hongkong and Shanghai Banking Corporation, Crédit Agricole Corporate and Investment Bank, CTBC Bank, DBS Bank and King’s Town Bank.
A further 11 banks joined the project’s financing structure for the first time. They are Mega International Commercial Bank, Chang Hwa Commercial Bank, The Export-Import Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Taiwan Business Bank, Taiwan Cooperative Bank, Taichung Commercial Bank, Bank of Panhsin, Entie Commercial Bank and Société Générale S.A.
The latest financing expands the involvement of Taiwanese banks alongside domestic and international institutions already participating in the project.
Tim Kittelhake, CEO and Project Director of the Hai Long Project, said the financing reflected cooperation among government authorities, financial institutions and private companies. He also said the project remained focused on completing construction safely and according to schedule.
The Hai Long Offshore Wind Project is located about 45–70 km from the coast of Changhua County. It will have 73 wind turbines and more than 1 GW of total installed capacity.
Construction is scheduled to be completed, with full grid connection targeted by the end of 2026. After operations begin, annual electricity generation is expected to cover the power demand of more than one million households in Taiwan.
