24 September 2020, Taipei
Combining international expertise and local development experience, Formosa 3 supports Taiwan’s green energy transition and localization ambitions
Formosa 3 is an offshore wind farm jointly developed by JERA, Macquarie’s Green Investment Group and EnBW AG, with three offshore wind farm sites, Haiding 1, Haiding 2, and Haiding 3, off the coast of Changhua County.
The three partners have deep international experience and technical expertise, and are committed to developing and supporting the local supply chain since the early development of Taiwan’s offshore wind industry. JERA and GIG have successfully developed Formosa 1, which is Taiwan’s first commercial-scale offshore wind farm, and started construction for Formosa 2. Along with EnBW’s strong offshore wind development capabilities globally, the consortium is well positioned to accelerate Taiwan’s green energy transition and drive supply chain localization.
As the largest EIA-approved project, Formosa 3 aims to drive the local offshore wind power supply chain and is well prepared and ready to deliver the project
As the largest EIA-approved offshore wind project after 2025, with capacity of up to 2GW, Formosa 3 is expected to be the champion of localization by leading the growth of local supply chain. The project has been actively exploring collaboration opportunities with potential partners of various sectors and seeking innovative solutions to promote local suppliers’ participation in offshore wind components, such as wind turbine manufacturing, offshore substation and jacket foundations.
The project aims to strengthen the competitiveness of the local supply chain, enable them to become a global player, and create export market opportunities. This will further encourage local participation and accelerate the development of the local supply chain.
Early talent development, building a comprehensive offshore wind talent pool
As Taiwan's offshore wind industry expands, local talent development is a key aspect and Formosa 3 aims to cultivate young talent in the offshore wind sector. The project has diverse collaborations to drive Taiwan’s offshore wind talent development. Examples include sponsoring scholarships for "Power Grid School and Talent Development Alliance" formed by Industrial Technology Research Institute; sponsoring the high school offshore wind science camp for National Taiwan University’s Department of Engineering and Oceanography; cultivating interest of Changhua students in offshore wind sector; participating in activities hosted by the Metal Industry Research and Development Center; introducing offshore wind to the students from National Cheng Kung University’s Department of Systematic and Ship Engineering.
The project has also participated in new industry talent program organized by the Ministry of Labor, sharing current developments in Europe and Japan and setting up courses on offshore wind engineering with young people. In addition, to facilitate universities teachers and high school teachers a better understanding of offshore wind and to share the latest industry news with their young students, Formosa 3 partnered with the Ministry of Education to roll out a series of practical training courses for teachers focusing on offshore wind sector.
Koichi Tamura, Chairman and CEO of JERA Energy Taiwan Co., Ltd., shared that "Formosa 3 is an important project for JERA. It will help us expand the renewable energy sector in Asia and also serve as a critical step for future development in Taiwan. Looking forward to 2025, JERA is committed to becoming a global market leader for LNG and renewable energies and, to this end, we will be collaborating with the development team to push for success. Along with our current natural gas IPP project in Taiwan, we look forward to contributing to the sustainable development of Taiwan's energy sector."
Anthony Lamb, Head of Taiwan and Co-Head of Offshore Wind Asia-Pacific, Macquarie’s Green Investment Group, said, “Further to our successful experiences in Formosa 1 and Formosa 2, Macquarie’s Green Investment Group is excited to develop the Formosa 3 project with our partners and we are ready to start work on delivering the project. We bring an unparalleled track record in offshore wind, including having delivered Taiwan’s first commercial scale offshore wind farm. We are committed to delivering on local content for the benefit of Taiwan. We have an expert team in Taiwan, with local and international experience, ready to support Taiwan’s green energy transition.”
Markus Wild, Managing Director of EnBW Asia Pacific, expressed that "Over the past three years, offshore wind energy has been growing in Taiwan. We believe that Formosa 3 can benefit from Taiwan's own rich experience and professional capabilities. EnBW has been developing offshore wind farms for over 10 years now and we are truly the pioneers and advocates for OWE in Germany. We are committed to building the largest offshore wind farm in Taiwan with our partners. Taiwan is currently the most important market in the Asia-Pacific region and I'm confident that the Phase III development policies for OWE will be able take Taiwan to the next level."
Formosa 3 aims share its expertise and scale to accelerate Taiwan’s transition to a greener and more sustainable economy and drive local supply chain development. Through sharing with students, teachers and lecturers, the project aims to localize Taiwan’s offshore wind talent and technologies and develop Asia’s offshore wind hub and create a cleaner future together.
Established in 2015, JERA is an equal joint venture of two major Japanese electric companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company. As a global energy company, JERA's mission is to provide cutting-edge solutions to the world's energy issue, creating a new energy era that will originate from Japan. JERA will focus on two main businesses: the LNG value chain and the large-scale renewable energy business. These businesses are complementary; renewable energy with variable power generation output is complemented by flexible, clean LNG thermal power generation and can help provide stable, clean, and economical energy. JERA has a global power generation of 79 GW, trades over 36 million tons of LNG each year, and supplies 30% of Japan's electricity, making it the largest energy company in its nation. JERA continues to develop its renewable energy business and has now achieved a total power generation of 1.1GW. Anticipating growing global demands for LNG and renewable energies, JERA is committed to becoming a global market leader in LNG and renewable energies.
About Macquarie’s Green Investment Group
Macquarie’s Green Investment Group (GIG) is a specialist in green infrastructure principal investment, project development and delivery, green impact advisory and the management of portfolio assets. Its track record, expertise and capability make it a global leader in green investment and development, dedicated to accelerating the green transition.
Initially launched by the UK Government in 2012 as the Green Investment Bank, it was the first institution of its type in the world. It was purchased by Macquarie in 2017 to create one of the world’s largest teams of specialist green infrastructure developers and investors. Now operating as the Green Investment Group, the business and its operating platforms have investments or operations in over 25 markets, more than 450 staff and a global development pipeline of more than 25 GW.
Macquarie Group Limited (Macquarie) is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs 15,849 people in 31 markets. At 31 March 2020, Macquarie had assets under management of £299.7 billion.
For more information, visit www.greeninvestmentgroup.com and www.macquarie.com.
EnBW Energie Baden-Württemberg AG (EnBW AG) is one of the largest energy supply companies in Germany and Europe. EnBW Group operates the entire value chain, from generation and trading, to renewable energies, grid operations and sales. A public company with over 100-years history, EnBW currently has a workforce of over 22,000 employees.
In 2013, EnBW embarked on a radical reorganization, in response to the fundamental changes brought about by the German Energiewende. EnBW realigned the company under the motto: “Energy Transition. Safe. Hands on.” Against the background of the phasing out of nuclear power and increasing decarbonization, EnBW began to expand renewable energies - primarily wind and hydropower - to make them one of the main pillars of EnBW’s business. The first step in Offshore Wind was Baltic 1 in 2010, Germany’s first commercialized Offshore Wind Farm. In 2019, the EnBW team also brought online two large Offshore Wind Farms in Germany, Hohe See and Albatros, the largest Offshore Wind Farm project to date with a joint capacity of 610MW. The two wind farms have been fully connected to the grid as of early 2020.
In addition to its core market, Germany, EnBW is actively seeking project opportunities in currently developing and emerging growth markets around the world with ambitious expansion targets. EnBW has developed business units not only in Germany, but also in Northern Europe, France, Turkey, USA, and Asia Pacific. In Asia Pacific, EnBW has its regional headquarter in Taipei and is a stakeholder in the Formosa 3 project.
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