Danish offshore wind developer Ørsted has secured TWD 90bn ($3bn) in financing for the 632MW Greater Changhua 2 wind farm off Taiwan.

The financing deal was arranged with 25 banks and five export credit agencies and covers part of the financing for the project. Simultaneously, the company is progressing with an equity divestment expected to be completed once the project is operational.

Located approximately 60 km off the coast of Taiwan, Greater Changhua 2 is comprised of the already operational Greater Changhua 2a and Greater Changhua 2b, which is currently under construction and is expected to be commissioned towards the end of 2025.

“We’ve received very strong support from both international and local banks and export credit agencies for the project financing of Greater Changhua 2. This shows that there is a healthy appetite for premium assets with robust contractual structures,” said Trond Westlie, CFO of Ørsted.