TotalEnergies and
Corio Generation, two world-leading offshore wind and renewable energy developers, have signed a joint venture partnership to develop the Formosa 3 offshore wind farms in Taiwan. Under this agreement, Corio will remain the majority shareholder and lead developer.
The announcement comes after Taiwan’s Bureau of Energy confirmed in late December 2022 that Formosa 3’s Haiding 2 wind farm had been awarded 600MW grid capacity following the first phase of Taiwan’s Round 3 auctions. The Formosa 3 project comprises three proposed wind farms — Haiding 1, 2 and 3 — in Changhua county on the central-western coast of Taiwan. The project received Environmental Impact Assessment (EIA) approvals in 2018, with an EIA-approved capacity of around 2GW.
Vincent Stoquart, TotalEnergies’ senior vice-president renewables, said: “We are very pleased to team up again with our strategic partner Corio, this time to develop offshore wind in Taiwan. This marks a new step toward supporting Taiwan’s energy transition, bringing sustainable, low-cost energy to the country. It also demonstrates our dedication to build up our global multi-energy business model through a series of investments to grow our worldwide renewable portfolio from 17GW in 2022 to 35GW in 2025, in line with our ambition to be one of the top five renewables developers by 2030.”
Jonathan Cole, Corio Generation’s CEO, said: “Corio has one of the largest offshore wind project portfolios worldwide with more than 20GW in development. As a transformative source of clean and reliable energy, we believe offshore wind offers huge benefits to Taiwan’s communities and economy. The Formosa 3 wind farms will support job creation and provide many opportunities for local businesses to participate in the green energy transition.”
Other projects developed by TotalEnergies and Corio include: the GW West of Orkney wind farm project in Scotland; the 1.5GW Outer Dowsing Offshore Wind project in England; over 2GW of floating wind projects in South Korea; the 250MW floating wind farm tender in France’s South Brittany region; and the 500MW floating windfarm tender in France’s Mediterranean region.