EnergyWatch

Ørsted resumes Taiwanese offshore wind projects

The energy company is taking note of the adjusted tariff but will wait to make its final investment decision on its Changua projects until after renegotiating contracts with suppliers.

Photo: Ørsted

Ørsted is lifting the suspension on its projects in Taiwan, Changhua 1 and 2a, which have a combined capacity of 900. This follows Taiwan's Ministry of Economic Affairs' Wednesday announcement that it had raised feed-in-tariff (FIT) rates, also stating that establishment licenses for projects allocated last April would be issued in the immediate future.

Contractual terms are markedly degraded relative to what Ørsted and the other developers had initially counted on. Instead of FIT of TWD 5.87 (EUR 0.17) per kWh, they are now offered TWD 5.54 per kWh, and the new terms also include a cap on subsidy-eligible full-load hours.

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