Total Enters 640MW Offshore Wind Project in Taiwan
April 29 2021 - 4:31AM
Dow Jones News
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)
Copyright (c) 2021 Dow Jones & Company, Inc.
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