The company's chief financial officer Marianne Wiinholt set out its financing strategy for the country at a meeting with local investors.
Wiinholt said the company would fund the Greater Changhua projects by capital provided by the Ørsted Group combined with debt capital sourced from local Taiwanese banks and financial institutions — and backed by a Ørsted parent company guarantee.
Ørsted will also continue its European strategy of sourcing financial partners for up to a 50% share in each of the projects.
The Taipai 101 building (pic: Toomore Chiang)
"We are very committed to the Taiwanese offshore wind market and are interested in engaging in long-term partnerships with local companies," Wiinholt said.
"With 50.1% shares owned by the [Danish state], Ørsted's corporate balance sheet, and investment drade credit rating of BBB+/BAA1 demonstrates that we have the financial capabilities necessary to successfully develop, construct, operate and own world-class wind farms in Taiwan," Wiinholt added.
Ørsted's Asia Pacific general manager Matthias Bausenwein said the four Greater Changhua projects being developed by the company would require TWD 380 billion ($13 billion) of investment — more than six times the amount needed for the Taipai 101 skyscraper, the world's tallest building from 2004-2011
