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Orsted to sell stake in offshore wind project for NT$75 billion
By Angelica Oung / Staff reporter
Orsted A/S, the world’s biggest developer of offshore wind farms, has agreed to sell a NT$75 billion (US$2.63 billion) stake in a project off Taiwan, it said yesterday.
Institutional investor Caisse de depot et placement du Quebec (CDPQ) and Cathay PE a private equity fund of Cathay Securities Investment Trust Co (國泰投信) are to acquire a 50 percent stake in the 605-megawatt Greater Changhua 1 project, with CDPQ being the majority partner, Orsted said in a statement.
Orsted would retain the remaining 50 percent stake and continue to operate the wind farm, it said.
Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) and Taiwan’s Cathay Private Equity are leading a consortium that’s buying a 50% stake in an offshore wind farm project in Taiwan for NT$$75 billion (US$2.66 billion) from Denmark’s Ørsted.
The Danish green energy firm, which will retain the other 50% shareholding in the Greater Changhua 1 wind farm, will use the proceeds to finance engineering, procurement and construction services for the project.
The wind farm is expected to be completed by 2022, Ørsted says in a statement on December 28.
It did not disclose the identity of the other consortium members.