Ørsted has completed the sale of a 50% stake in the 583MW Greater Changhua 4 offshore wind farm to insurance firm Cathay Life Insurance.
The project forms part of the 920MW Greater Changhua 2b and 4 wind farm currently under construction in the Taiwan Strait. As part of the deal, Ørsted will continue to own Greater Changhua 2b.
The Danish developer will build Greater Changhua 4 under a full-scope engineering, procurement and construction contract as part of the agreement. It will also provide long-term operations and maintenance services from a hub at the Port of Taichung.
It marks a fast turnaround on the deal, which Ørsted only announced last week. Cathay Life Insurance is a subsidiary of Cathay Financial Holdings, which is an investor in the 605MW Greater Changhua 1 wind farm.
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