Yetserday, Ørsted and Taiwan-based TSMC have signed a corporate power purchase agreement (CPPA).
TSMC will offtake the full production from Ørsted’s 920MW Greater Changhua 2b & 4 offshore wind farm, making it the largest-ever contract of its kind within renewable energy. The 20-year fixed-price contract period starts once Greater Changhua 2b & 4 reaches commercial operations in 2025/2026, subject to grid availability and Ørsted’s final investment decision.
TSMC, the world’s largest semiconductor foundry, is also a world-leader in green manufacturing. With this CPPA, TSMC once again demonstrates its long-term commitment to environmental sustainability.
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 the outcome of Taiwan’s first offshore wind auction in June 2018. This improves the project’s financial viability and helps Ørsted mature Greater Changhua 2b & 4 towards a final investment decision.