Finance
The Hai Long Offshore Wind Project has completed a NT$55 billion incremental financing package, structured within the existing project financing framework.
The project is a joint investment and development by Mitsui & Co. of Japan, Northland Power Inc. of Canada and Gentari of Malaysia.
By securing increased financing on more competitive terms, the project’s capital structure is further optimised and its financial foundation strengthened for the successful completion of construction and long-term operations.
In addition to continued support from the original seven Export Credit Agencies (ECAs) and the existing lending syndicate, this financing attracted participation from the National Credit Guarantee Administration (NCGA) and 17 financial institutions.
The incremental financing includes six existing lenders that increased their commitments: Taipei Fubon Commercial Bank, The Hongkong and Shanghai Banking Corporation, Crédit Agricole Corporate and Investment Bank, CTBC Bank, DBS Bank and King’s Town Bank. It also includes 11 banks that are participating in the project’s financing structure for the first time. These comprise domestic state-owned, commercial and international banks: Mega International Commercial Bank, Chang Hwa Commercial Bank, the Export-Import Bank, Hua Nan Commercial Bank, the Land Bank of Taiwan, the Taiwan Business Bank, the Taiwan Cooperative Bank, the Taichung Commercial Bank, the Bank of Panhsin, the Entie Commercial Bank and Société Générale S.A.
Overall, the total number of financial institutions supporting the project has increased to 35.
A key highlight of this financing is the increased participation of Taiwanese banks, who have joined existing domestic and international financial partners in supporting the project.
This not only demonstrates the financial market’s long-term confidence in the Hai Long Project and Taiwan’s energy transition, but also underscores the continued maturity of Taiwan’s green finance market in attracting diversified capital to major energy infrastructure projects and their commitment to supporting green projects at home.
