EnBW acquires 37.5 percent stake in each of three offshore wind projects in Taiwan

12.02.18
  • EnBW, Maquarie Capital and Swancor Renewable cooperate in the development of offshore wind projects with a total volume of approximately 2,000 MW
  • First step for EnBW into new international growth markets

EnBW Energie Baden-Württemberg AG is rigorously pursuing its growth path in renewables and is expanding its business in Taiwan. Together with Australian investor Macquarie Capital and Taiwanese project developer Swancor Renewable, the Company is to press ahead with the development of three offshore wind projects in Taiwan. For this purpose, EnBW has acquired a 37.5 percent stake in each of three offshore wind projects in Taiwan with a potential total volume of approximately 2,000 MW. The acquisition is subject to the approval of the Cartel Authority in charge.

EnBW intends to expand renewable energies to form one of the main pillars of its business by 2020.With a view to long-term growth, EnBW will invest over 5 billion euros in the further expansion of renewables through to 2025. In the process, it is targeting selective internationalisation as a supplement to its core market of Germany.

Taiwan holds strong potential for renewable energies. After deciding to phase out nuclear power by 2025 – with nuclear energy accounting for some 40 percent of power generation in the past – Taiwan aims to make up for the resulting shortfall by expanding renewable energies and most of all offshore wind power. Taiwan has set ambitious targets in this regard: 5.5 GW of Offshore wind power is to be ready by 2025. Allocation of the necessary grid connection capacity is planned for the first half of 2018. 

Swancor Renewable, as the Taiwan-based partner among the three companies, is able to contribute its local network, while EnBW will take on the majority of the technical project development. For this purpose, EnBW has already provided its own personnel on site in Taiwan for the joint team, which is supported by experts from the EnBW offshore office in Hamburg. A local skilled workforce will is also be established, with employees trained and qualified by EnBW.

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