UK Export Finance (UKEF) is providing a £200m buyer credit guarantee to help finance the 605MW Greater Changhua 1 offshore wind farm off Taiwan to unlock the export potential of the UK’s offshore wind sector.
UKEF has now provided £500m of financing for three offshore wind projects in Taiwan alone since late 2019, creating trading opportunities for UK renewable energy companies and supporting green jobs.
Two UK renewable energy companies, Seajacks and Trelleborg’s applied technologies operation in the UK, have already capitalised on UKEF’s support by winning export contracts with Orsted, the company leading the development of the wind farm.