Taiwan, Changhua County: The Hai Long offshore wind project has secured $1.7 B (€1.5 B, TWD 55 B) in additional financing, with 11 banks participating in the project’s financing structure for the first time.
Hai Long is being developed by Mitsui & Co., Northland Power and Gentari approximately 45–70 km off Changhua County. The three-phase project will comprise 73 Siemens Gamesa 14 MW wind turbines with more than 1 GW of total capacity.
The new financing has been arranged within Hai Long’s existing project finance framework and involves 17 financial institutions. Six existing lenders increased their commitments, while the 11 newcomers include Taiwanese state-owned and commercial banks together with international lender Société Générale.
The new lenders are Mega International Commercial Bank, Chang Hwa Commercial Bank, The Export-Import Bank of the Republic of China, Hua Nan Commercial Bank, Land Bank of Taiwan, Taiwan Business Bank, Taiwan Cooperative Bank, Taichung Commercial Bank, Bank of Panhsin, Entie Commercial Bank and Société Générale.
Taipei Fubon Commercial Bank, HSBC, Crédit Agricole Corporate and Investment Bank, CTBC Bank, DBS Bank and King’s Town Bank have increased their existing commitments.
The financing also includes Taiwan’s National Credit Guarantee Administration, alongside seven existing export credit agencies and the lending syndicate. Following the transaction, 35 financial institutions now support the project.
Hai Long 2A was completed and grid-connected at the end of 2025, while Hai Long 3 is scheduled for completion and grid connection by the end of 2026.
Source: Offshorewind.biz
