Wind Energy – Formosa 1
Japan’s Mitsui OSK Lines, Toho Gas and Hokuriku Electric Power will buy a stake of 25% in Formosa International Investment from Australia’s Macquarie Group to enter Taiwan’s offshore wind power business.
The Japanese firms said the deal takes them into the overseas offshore wind power market, with the aim of gathering industry knowledge to help expand their renewable energy business. They did not disclose the terms.
Formosa International Investment fully owns an operator of the 128-MegaWatt (MW) Formosa 1 offshore wind power farm, Taiwan’s first of commercial size.
The deal is expected to be completed after complying with necessary procedures, including approvals from Taiwan authorities.