Danish offshore wind developer Ørsted has obtained TWD 90 billion ($3 billion) in financing for its 632MW Greater Changhua 2 wind farm, located approximately 60 km off Taiwan’s coast. The financing agreement, finalized on July 11, 2025, involves 25 banks and five export credit agencies, covering a portion of the project’s funding needs. Additionally, Ørsted is advancing an equity divestment process, expected to conclude once the wind farm is fully operational.

The Greater Changhua 2 project consists of two components: Greater Changhua 2a, which is already operational, and Greater Changhua 2b, currently under construction with commissioning anticipated by the end of 2025. The wind farm will contribute significantly to Taiwan’s renewable energy capacity, supporting the region’s transition to sustainable energy sources.

Trond Westlie, CFO of Ørsted, stated: “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.”

The financing deal reflects strong confidence in the project’s viability and Ørsted’s expertise in offshore wind development. By securing funds from a diverse group of financial institutions, Ørsted ensures the project’s progress while fostering international and local collaboration in Taiwan’s renewable energy sector.

The Greater Changhua 2 wind farm is poised to play a key role in expanding clean energy production, reducing reliance on fossil fuels, and supporting sustainable economic growth in the region. Ørsted’s ongoing efforts, including the planned equity divestment, demonstrate a strategic approach to balancing financial and operational milestones, positioning the project as a cornerstone of Taiwan’s renewable energy landscape.