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.