July 8, 2020 Read More →

Ørsted signs world’s largest corporate renewable PPA with Taiwan’s TSMC


Ørsted and Taiwan-based TSMC have signed a corporate power purchase agreement (CPPA) for all the production from Ørsted’s 920MW Greater Changhua 2b & 4 offshore wind farm. The Danish energy giant said this makes it the largest-ever contract of its kind within renewable energy.

The 20-year fixed-price contract period starts once Greater Changhua 2b & 4 reach commercial operations in 2025/2026, subject to grid availability and Ørsted’s final investment decision.

Under the agreement with TSMC, the Greater Changhua 2b & 4 offshore wind farm will receive a price for power including T-RECs (Taiwan renewable energy certificate) during the 20-year contract period that is higher than the feed-in-tariff which was originally secured via Taiwan’s first offshore wind auction in June 2018.

Ørsted said the PPA improves the project’s financial viability and helps it mature Greater Changhua 2b & 4 towards a final investment decision.

Ørsted Asia-Pacific president Matthias Bausenwein added: “The agreement between Ørsted and TSMC signed today underlines Ørsted’s pioneering role in the development of renewable energy in the Asia Pacific. In Taiwan, we are already constructing the Greater Changhua 1 & 2a offshore wind farm. Combined with our Greater Changhua 2b & 4 project, which is now one step closer to a final investment decision, we are making offshore wind a cornerstone in Taiwan’s transition from fossil-based to renewable energy.”

More: Ørsted signs ‘world’s largest’ renewables PPA in Taiwan

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