Natural Power advises on one of Taiwan’s largest offshore wind power projects
The transaction will see Sojitz and its consortium participate as a co-owner in the project right through construction and into operations for the 640MW offshore wind farm in Taiwan. The project will sell power to Taiwan Power Company over a 20-year term with a feed-in tariff scheme under Taiwan’s Renewable Energy Development Act.
Kotaro Kato, Project Coordinator, Sojitz Corporation, said: “This represents Sojitz’s first entry into offshore wind and we believe that offshore wind power has the greatest potential for growth in Japan in years to come. This investment represents the first expansion of the company’s renewable energy business into offshore.
“Through participation in this project, Sojitz not only achieves immediate investment objectives but also acquires the expertise to contribute to the expansion of offshore wind industry domestically in years to come.”
Kotaro continues: “Given this was our first investment in offshore, we were heavily reliant on our technical advisor, Natural Power, and were delighted with the expertise, knowledge and support throughout the acquisition – ultimately leading to a successful transaction for Sojitz and WPD.”
Paul Concannon, Senior Project Manager in Natural Power’s Dublin office, acted as Lead Technical Advisor to Sojitz and its consortium for the transaction. He said: “We were delighted to support Sojitz on this exciting investment and to be active in the Taiwanese offshore market since mid-2018. This is a burgeoning market and to be working to support the first-mover projects in what is a new industry for Taiwan, is really exciting and has led to an increasing presence for Natural Power in the market.”
Natural Power’s global due diligence team provides services throughout all stages of the transaction cycle across renewable energy technologies, from initial risk assessment and reporting in early transaction stages through to comprehensive reporting for credit-committee or data room presentation at final bid stage or financial close. Find out more here https://www.naturalpower.com/our-services/due-diligence/
Sojitz Corporation is a sogo shosha (general trading company) based in Tokyo, Japan. It is engaged in a wide range of businesses globally, including buying, selling, importing, and exporting goods, manufacturing and selling products, providing services, and planning and coordinating projects, in Japan and overseas.
The Natural Power Consultants Limited. Press release - Natural Power advises on one of Taiwan’s largest offshore wind power projects. URL: https://www.naturalpower.com/natural-power-advises-on-one-of-taiwans-largest-off.... [Date Accessed: 15/04/2019].
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