European Chemical Industry News & Insights

Ørsted Secures Financing for Greater Changhua 2 Project

At a glance
  • Greater Changhua 2 is a 632 MW offshore wind farm located 50-60 km off Changhua County, Taiwan.
  • Greater Changhua 2a is operational, while 2b is under construction, expected to be completed by end of 2025.
  • The financing package is supported by guarantees from five export credit agencies.
  • Ørsted structured the asset-level project financing with strong support from international and local banks.

Project Overview

Greater Changhua 2 is a 632 MW offshore wind farm located 50-60 km off the coast of Changhua County, Taiwan. It consists of Greater Changhua 2a, which is operational, and Greater Changhua 2b, currently under construction and expected to be commissioned by the end of 2025.

Financing Structure

Ørsted has secured project financing for Greater Changhua 2, with strong support from both international and local banks, as well as export credit agencies. This financing is part of Ørsted's broader strategy to progress its partnership and divestment programs.

Support from Export Credit Agencies

The asset-level project financing package is backed by guarantees from five export credit agencies: Export Finance Norway (Eksfin), the Export and Investment Fund of Denmark (EIFO), the Export-Import Bank of Korea (KEXIM), Export-Import Bank of the Republic of China (T-EXIM), and UK Export Finance (UKEF).