By Giulia Petroni 
 

Total SE said Thursday that it has signed an agreement with Germany's Wpd AG to acquire a 23% interest in Yunlin Holding GmbH, the owner of a 640-megawatt wind farm under construction in offshore Taiwan.

The French oil-and-gas major said the project, which is located about 200 kilometers (124 miles) southwest of Tapei, will include 80 wind turbines with a unit capacity of 8MW and is set to produce 2.4 terawatt hours of renewable energy a year. Construction is scheduled to be completed in 2022.

The project also benefits from a 20-year guaranteed-price power purchase agreement with state-owned company Taipower--$250 per megawatt hour in the first 10 years and $125 per MWh for the following 10 years.

Wpd owns 48% of the project, while the rest is owned by Electricity Generating PCL and by a consortium of Japanese investors led by Sojitz Corp.

Total is set to pay Wpd a consideration based on its share of past costs. The acquisition is subject to government approval.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

April 29, 2021 04:16 ET (08:16 GMT)

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