Thailand's EGCO Group buys stake in 640MW offshore wind developer

The developer is owned by WPD and a consortium of Japanese investors.

Thailand’s Electricity Generating Public Company (EGCO) Group, through its affiliate Greenwing Energy, has completed the acquisition of a 25% stake in Yunlin Holding, which is developing the 640MW Yunlin offshore wind project in Taiwan.

Yunlin Holding is owned by German developer WPD with a 73% stake and by a consortium of Japanese investors led by Sojitz Corporation and including Chugoku Electric Power, Chubu Electric, Shikoku Electric Power and JXTG Nippon Oil & Energy Corporation with 27%. The sale of the 25% stake was announced in December 2019.

In June 2019, Yunlin Holding achieved financial close for the $3b (TWD94b) wind project, which is supported by 19 banks and three export credit agencies from Denmark (EKF), Germany (Euler Hermes) and the Netherlands (Atradius). The offshore wind park will feature 80 Siemens Gamesa 8MW turbines. Commissioning of the first 352MW phase is scheduled by end-2020, and the 288MW phase 2 is expected in third semester 2021.

This article was originally published by Enerdata.