SeaEnergy PLC and Taiwan Generations Corporation (TGC) have announced that they have entered into an agreementto jointly develop TGC’s pipeline of offshore windfarm projects. Under the terms of the agreement, the companies will work on a variety of projects, commencing with the 600 MW Changhua Offshore Windfarm.
The Changhua Offshore Windfarm will be located in the Taiwan Strait off Changhua county on the West Coast of Taiwan, about 2.5 to 10 km from shore in water depths up to 30m. The windfarm will initially be jointly owned by TGC and SERL, and may in the future, include other strategic investors as the development progresses. The agreement provides SeaEnergy with the right to retain a 25% working interest in the windfarm developments.
Steve Remp, Chairman of SeaEnergy PLC said: “We are very pleased to receive this international recognition for the quality and capabilities of our team. While the SeaEnergy team remain focused on delivering the Scottish Round awards we have already secured, and await the Crown Estate’s decisions regarding Round 3, we are confident that we can make a significant contribution to the growing global offshore wind industry. The extensive offshore wind experience our team has developed in the UK makes us perfectly placed to undertake this joint venture in Taiwan.”
“This project is the perfect way for us to take our unique expertise overseas and to explore new and exciting opportunities at relatively low risk,” added SeaEnergy Renewables Limited CEO, Joel Staadecker.
The Taiwan Government has set a target of 15%, or 8,450MW, of Taiwan’s electricity to be generated from renewable resources by 2025 and passed the Renewable Energy Act in July 2009. It has recognised the potential of offshore wind of offering the fastest gateway to attaining this goal and foresees at least 3,000MW of offshore wind power. It is anticipated that an associated feed-in tariff system will be announced by January 2010 which will contribute significantly to generating the development required to meet this target.
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