PRESS RELEASE
ON THE INAUGURATION OF THE FORMOSA 2 OFFSHORE WIND FARM
Australian Office, Taipei
16 May 2023
The Australian Office congratulates Macquarie Asset Management’s Green Investment Group (GIG), industry partners, and government and other stakeholders on successful completion of the Formosa 2 Offshore Wind Farm project, an important milestone in the development of Taiwan’s offshore wind industry and Taiwan’s energy transition. Australian Representative Jenny Bloomfield was pleased to attend inauguration events for the project at Miaoli County’s Waipu Fishing Port and in Taipei.
Formosa 2 becomes Taiwan’s third operational offshore wind farm, and the second offshore wind farm developed in Taiwan by Macquarie and its partners. Formosa 2 is expected to power up to an equivalent of 380,000 households in the Miaoli area.
Headquartered in Australia, Macquarie was an early participant in identifying development opportunities for Taiwan’s offshore wind industry. Macquarie played a key role in the development and delivery of Taiwan’s first commercial-scale offshore wind farm, Formosa 1; has just completed installation of all 47 wind turbines in the Formosa 2 wind farm; and Macquarie’s specialist offshore wind business Corio Generation is a major partner in the development of the Formosa 3 wind farm.
Together, the Formosa 1, 2 and 3 wind farms are estimated to power the equivalent of over 2 million Taiwanese homes with clean, green power each year. Through these projects, Macquarie is bringing its extensive offshore wind expertise to Taiwan, together with strong environmental protections, and is delivering innovative projects whose success is paving the way for future offshore wind developments in Taiwan.
The Formosa 2 project will also make important contributions to the local community by supporting local supply chains and jobs and, in partnership with Miaoli’s National United University, promote energy education and lay a solid foundation for developing the green talent of the future.
Today’s inauguration is another important milestone in the long-standing and mutually beneficial trade and investment relationship between Australia and Taiwan.
Australia is proud to be Taiwan’s largest energy and resources provider and close energy transition partner, and Taiwan was Australia’s fourth largest goods export market in 2022. Our cooperation has long delivered a secure supply of energy resources for Taiwan and a stable investment and export market for Australian resources. As the world transitions to a net zero emissions future, we have new opportunities to deepen our cooperation to ensure a reliable energy supply while reducing greenhouse emissions through investments in wind and solar, and in priority low emissions technologies like hydrogen.
Australia and Taiwan have held three dialogues on hydrogen trade and investment opportunities. In November 2022, a Taiwanese delegation visited Australia for discussions with government and industry stakeholders and toured investment-ready hydrogen projects. The annual Australia-Taiwan Joint Energy and Minerals Trade and Investment Cooperation (JEMTIC) consultations, the 28th round of which will be held in Australia this year, continue to explore new opportunities for energy cooperation and investment and support the multi-layered energy and resources relationship between Australia and Taiwan.
We will continue to work together to promote trade and investment opportunities in offshore wind and other renewable energy sources, in low emissions technologies such as hydrogen and across the breadth of our economic relationship.