The Hai Long offshore wind project in Taiwan has secured additional financing of TWD 55 billion (approximately EUR 1.5 billion), marking the entry of eleven new banks into its financing structure.
This financing, structured within the existing project finance framework, involves 17 financial institutions. Six existing lenders have increased commitments, while new entrants include Taiwanese state-owned and commercial banks, and international lender Société Générale.
The new participants are Mega International Commercial Bank, Chang Hwa Commercial Bank, The Export-Import Bank of the Republic of China, Hua Nan Commercial Bank, Land Bank of Taiwan, Taiwan Business Bank, Taiwan Cooperative Bank, Taichung Commercial Bank, Bank of Panhsin, Entie Commercial Bank, and Société Générale.
Existing lenders increasing their commitments are Taipei Fubon Commercial Bank, HSBC, Crédit Agricole Corporate and Investment Bank, CTBC Bank, DBS Bank, and King’s Town Bank.
The financing also includes Taiwan’s National Credit Guarantee Administration (NCGA) and the project’s export credit agencies, expanding the total number of supporting financial institutions to 35.
Hai Long is developed by a consortium of Mitsui & Co., Northland Power, and Gentari. Located 45 to 70 kilometers off Changhua County, it will consist of 73 wind turbines with a combined capacity exceeding 1 GW across three phases.
The first phase, Hai Long 2A, was completed with 21 Siemens Gamesa 14 MW turbines and grid-connected by the end of 2025. Similarly, 16 turbines were installed on Hai Long 2B the previous year.
Construction is ongoing for Hai Long 3, which will include 36 Siemens Gamesa 14 MW wind turbines, with anticipated completion and grid connection by the end of 2026.
Once operational, Hai Long is expected to generate enough electricity to supply over one million Taiwanese households annually.
Original Story at www.offshorewind.biz