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Total purchases share of 640MW offshore wind farm in Taiwan
Once commissioned, the project is forecast to produce enough renewable electricity to cover the power needs of 605,000 households
Image: Shutterstock
Energy major Total has announced it has acquired a 23% interest in Yunlin Holding GmbH, the owner of a 640MW offshore wind farm off the coast of Taiwan, around 200 kilometres southwest of Taipei.
Once commissioned, the ‘Yunlin’ 80 wind turbine project is forecast to produce 2.4TWh of renewable electricity, enough to cover the power needs of around 605,000 homes.
The wind farm had its first wind turbine installed last week.
Stéphane Michel, President Gas, Renewables and Power at Total, said: “This agreement provides Total with an opportunity to gain a foothold in one of Asia’s main offshore wind markets and strengthens the group’s position in this fast-growing segment, in line with its strategy of profitable development in renewables worldwide.”
Total (NYSE: TOT) has signed an agreement with WPD to acquire a 23 percent interest in Yunlin Holding GmbH.
Total (NYSE: TOT) has revealed that it has signed an agreement with WPD to acquire a 23 percent interest in Yunlin Holding GmbH, the owner of the Yunlin offshore wind farm located off the coast of Taiwan.
In exchange for the 23 percent stake, Total outlined that it will pay WPD a consideration based on its share of past costs. Total noted that the acquisition, which is subject to government approval, will broaden the group’s portfolio of offshore wind projects under development and construction.
Total acquires minor stake in Taiwanese offshore wind project 6:38 AM, 30th April 2021 Total s offshore wind power project in Europe. (Representative Image/File Photo)
PARIS, FRANCE: Total said it has signed an agreement with wpd to acquire a 23 percent interest in Yunlin Holding GmbH, the owner of Yunlin offshore wind farm located off the coast of Taiwan, around 200 kilometers southwest of Taipei.
The project, currently under construction, represents production capacity of 640 megawatts (MW) and benefits from a 20-year guaranteed-price power purchase agreement (PPA) with the state-owned company Taipower of $250/MWh for the first 10 years and $125/MWh for the following 10 years. For this acquisition of a 23 percent interest, Total will pay to wpd a consideration based on its share of past costs.
TOTAL: Total Enters a 640 MW Offshore Wind Project Under Construction in Taiwan
Total (Paris:FP) (LSE:TTA) (NYSE:TOT):
Total has signed an agreement with wpd to acquire a 23% interest in Yunlin Holding GmbH, the owner of Yunlin offshore wind farm located off the coast of Taiwan, around 200 kilometers southwest of Taipei. The project, currently under construction, represents production capacity of 640 megawatts (MW) and benefits from a 20-year guaranteed-price power purchase agreement (PPA) with the state-owned company Taipower of USD 250/MWh for the first 10 years and USD 125/MWh for the following 10 years
1. For this acquisition of a 23% interest, Total will pay to wpd a consideration based on its share of past costs.