Formosa 2 Completes NT$58.9 Billion Refinancing, Marking First in APAC Offshore Wind
Formosa 2 (海能風電) has successfully completed a refinancing agreement of approximately NT$58.9 billion, marking the first of its kind in the Asia-Pacific offshore wind sector. The deal saw massive oversubscription from 31 financial institutions.
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- 📰 Published: April 24, 2026 at 22:27
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Central News Agency
Digital transformation is an ongoing process for industries. Artificial Intelligence and Net-Zero carbon emissions are two major challenges faced by governments and enterprises, which are crucial to Taiwan's future competitiveness. The CNA frontline reporting team deeply investigates how the government and various industries utilize AI to optimize production processes and drive green innovation, witnessing another leap forward for Taiwan's industry.
(CNA Reporter Tseng Chih-yi, Taipei, 24th) Formosa 2 (海能風電) held the "Formosa 2 Refinancing Financial Close Ceremony" today to celebrate the successful completion of its refinancing agreement of approximately NT$58.9 billion. This is the first refinancing case in Taiwan's offshore wind history and the first in the Asia-Pacific region, demonstrating that Taiwan's offshore wind industry is gradually entering a mature operational phase.
Synera Renewable Energy (SRE) Chairperson Lucas Lin stated that Formosa 2 has shown excellent power generation efficiency since commencing commercial operations, stably providing green energy to Taiwanese enterprises and households. This is the result of the team's professionalism and continuous efforts across all stages, from site selection and construction to operations and maintenance. The challenges of offshore wind development never cease; SRE will continue to uphold its commitment to firmly advance its projects and looks forward to making more contributions to Taiwan's and the region's energy transition.
Richard Fitter, Head of Financial Optimization at JERA Nex bp, stated that this is not only a major milestone for Formosa 2 but also carries profound significance for the entire offshore wind sector in the Asia-Pacific region. It fully demonstrates that the industry has the robust capability to lead the energy transition. JERA Nex bp will continue to drive offshore wind development in the Asia-Pacific region.
Formosa 2 expressed special thanks to the 31 financial institutions that participated in this refinancing deal. The project received an enthusiastic response in the financial market, ultimately achieving an oversubscription rate of more than 200%, breaking records in Taiwan's offshore wind financing market. This reflects the banking syndicate's high recognition of Formosa 2's asset quality, operational performance, and long-term development potential.
The participating lenders include 4 international Export Credit Agencies (ECAs) that have supported the project since its original financing, as well as 10 major international banks and 17 local financial institutions. Among the local institutions, 8 are state-owned banks and 9 are private banks.
Notably, Bank SinoPac and Taichung Commercial Bank participated in Taiwan's offshore wind financing for the first time, symbolizing that the local market's acceptance of offshore wind financial assets continues to rise.
Located off the coast of Zhunan, Miaoli, Formosa 2 is 51% owned by SRE and 49% by JERA Nex bp. The wind farm has a total installed capacity of 376 MW. The installation of all 47 wind turbines was completed in January 2023, followed by full grid connection in March of the same year. It obtained its commercial operation license on September 8, 2023, entering the commercial operation and maintenance phase, supplying electricity to approximately 380,000 households annually. (Editor: Chang Liang-chih) 1150424
Central News Agency
Digital transformation is an ongoing process for industries. Artificial Intelligence and Net-Zero carbon emissions are two major challenges faced by governments and enterprises, which are crucial to Taiwan's future competitiveness. The CNA frontline reporting team deeply investigates how the government and various industries utilize AI to optimize production processes and drive green innovation, witnessing another leap forward for Taiwan's industry.
(CNA Reporter Tseng Chih-yi, Taipei, 24th) Formosa 2 (海能風電) held the "Formosa 2 Refinancing Financial Close Ceremony" today to celebrate the successful completion of its refinancing agreement of approximately NT$58.9 billion. This is the first refinancing case in Taiwan's offshore wind history and the first in the Asia-Pacific region, demonstrating that Taiwan's offshore wind industry is gradually entering a mature operational phase.
Synera Renewable Energy (SRE) Chairperson Lucas Lin stated that Formosa 2 has shown excellent power generation efficiency since commencing commercial operations, stably providing green energy to Taiwanese enterprises and households. This is the result of the team's professionalism and continuous efforts across all stages, from site selection and construction to operations and maintenance. The challenges of offshore wind development never cease; SRE will continue to uphold its commitment to firmly advance its projects and looks forward to making more contributions to Taiwan's and the region's energy transition.
Richard Fitter, Head of Financial Optimization at JERA Nex bp, stated that this is not only a major milestone for Formosa 2 but also carries profound significance for the entire offshore wind sector in the Asia-Pacific region. It fully demonstrates that the industry has the robust capability to lead the energy transition. JERA Nex bp will continue to drive offshore wind development in the Asia-Pacific region.
Formosa 2 expressed special thanks to the 31 financial institutions that participated in this refinancing deal. The project received an enthusiastic response in the financial market, ultimately achieving an oversubscription rate of more than 200%, breaking records in Taiwan's offshore wind financing market. This reflects the banking syndicate's high recognition of Formosa 2's asset quality, operational performance, and long-term development potential.
The participating lenders include 4 international Export Credit Agencies (ECAs) that have supported the project since its original financing, as well as 10 major international banks and 17 local financial institutions. Among the local institutions, 8 are state-owned banks and 9 are private banks.
Notably, Bank SinoPac and Taichung Commercial Bank participated in Taiwan's offshore wind financing for the first time, symbolizing that the local market's acceptance of offshore wind financial assets continues to rise.
Located off the coast of Zhunan, Miaoli, Formosa 2 is 51% owned by SRE and 49% by JERA Nex bp. The wind farm has a total installed capacity of 376 MW. The installation of all 47 wind turbines was completed in January 2023, followed by full grid connection in March of the same year. It obtained its commercial operation license on September 8, 2023, entering the commercial operation and maintenance phase, supplying electricity to approximately 380,000 households annually. (Editor: Chang Liang-chih) 1150424