- Cathay acquires 55% of Ørsted's 632 MW Greater Changhua 2 Offshore Wind Farm.
- The transaction is valued at approximately DKK 5 billion, closing expected in Q3 2026.
- Ørsted will provide long-term operations and maintenance from its Taichung hub.
- Financial close on a DKK 20 billion project financing package was reached in July 2025.
Investment Agreement
Ørsted has signed an agreement with Cathay Life Insurance and its affiliate Cathay Power, allowing Cathay to acquire a 55% ownership stake in Ørsted’s 632 MW Greater Changhua 2 Offshore Wind Farm in Taiwan.
Project Details
The Greater Changhua 2 site is located 50–60 km off the coast of Changhua County and includes Greater Changhua 2a, which is operational at 295 MW, and Greater Changhua 2b, currently under construction with a capacity of 337 MW. Commissioning is expected in Q3 2026.
Financial Aspects
The transaction for the 55% equity stake is valued at approximately DKK 5 billion, considering existing project financing arrangements. The closing of the transaction is planned to coincide with the project reaching commercial operations in Q3 2026. Ørsted reached financial close on a project financing package of approximately DKK 20 billion for the entire project in July 2025.
Operational Role
Under the agreement, Ørsted will provide long-term operations and maintenance services from its O&M hub at the Port of Taichung.
