TAIPEI (Taiwan News) — CTBC Bank said Wednesday (Dec. 11) that it led 15 financial institutions to secure a NT$60 billion (US$1.8 million) investment for Orsted’s Greater Changhua 4 North West Wind Farm.
The company said in a press release the investment case included six domestic banks, nine foreign banks, and five foreign export credit agencies, per CNA. The investment was the largest offshore wind financing case in Taiwan this year, the bank explained.
The project is also the first offshore wind farm project to receive financing from the National Credit Guarantee Administration, per UDN.
CTBC Bank said it leveraged its track record in offshore wind power with Orsted to help investors acquire a 50% stake. The bank acted as the lead organizer and collateral agent.
According to the agreement, Orsted will be responsible for constructing Greater Changhua 4 North West Wind Farm. It is expected to be completed by the end of next year.