Today, the Formosa 2 Offshore Wind Farm celebrated the start of onshore construction with a groundbreaking ceremony in Miaoli County. Once constructed, Formosa 2 will be one of the earliest offshore wind farms in Taiwan and will generate enough green electricity for over 380,000 households per year.

Formosa 2 is a 376MW offshore wind farm project, jointly developed by Macquarie’s Green Investment Group ("GIG") and Swancor Renewables, and is located 4-10 kilometers offshore from Miaoli County. Onshore construction will begin imminently and will be managed by Taiwanese company Fortune Electric, who are responsible for the construction of the onshore substation and cable system required to connect the wind farm to the local electricity network. Offshore construction will begin in Spring 2020, with Jan De Nul responsible for the foundations and submarine cable system and Siemens Gamesa providing 47 x 8MW wind turbines.

"We are very pleased to announce the start of construction of Formosa 2 and to have the opportunity to celebrate with our construction partners, central and local government and local community representatives" States Kimberly Cram, Senior Vice President Macquarie’s GIG and Project Director of Formosa 2. "Formosa 2 is a great example of how experienced local and international companies can work together in order to deliver world class energy projects and bring benefit to the local region."

Earlier this year Formosa 2 contributed NT$119 million stamp tax to Miaoli County upon signing of its construction projects. To date Formosa 2 has signed more than 70 contracts with local companies and has also cooperated with local universities including sponsoring an offshore wind related university programme with the NUU.

Notes to editors
*Macquarie Capital has announced it will now develop and invest in green energy projects in Taiwan through Macquarie's Green Investment Group (GIG) platform. GIG is Macquarie's global platform for principal investment in the green economy and its mission is to accelerate the transition to a greener global economy. For more information about GIG, please see below.

About Green Investment Group and Macquarie Group

Macquarie's Green Investment Group (GIG) is a specialist in green infrastructure principal investment, development, project delivery, and the management of portfolio assets, and related services. Its track record, expertise and capability make it a global leader in green investment, dedicated to supporting the growth of the global green economy.

The institution was initially launched by the UK Government in 2012 as the Green Investment Bank (GIB) - the first institution of its type in the world. It was purchased by Macquarie in 2017 and combined with Macquarie Capital's renewables team to create one of the world's largest teams of specialist green investors. Now operating as Macquarie's Green Investment Group, the platform has more than 400 staff working in over 15 countries across Europe, North America, Asia and Australia, combining international best practice from across Macquarie's activities.

Across the globe, GIG has supported 16 offshore wind projects, representing over 4.5 GW of operating capacity including almost 50% of the UK's offshore wind capacity in operations or under construction.

Macquarie Group Limited (Macquarie) is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs 15,715 people in 30 markets. At 31 March 2019, Macquarie had assets under management of £305.8 billion.

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About Swancor Renewable

Swancor Renewable is a leading Taiwanese offshore wind developer, pioneering the sector in Taiwan through the development of Formosa I (128MW – to be fully operational by end of 2019), Formosa II (376MW – Financial Close in October 2019) and Formosa III (2.0GW – under development). Swancor Renewable is focused on the development, construction and operation of offshore wind farms in Taiwan and the region. Swancor Renewable owns 25% of Formosa II and with the support of Stonepeak Infrastructure Partners, its equity investor, will continue to play a leadership role in the offshore wind sector in Taiwan and across Asia.

Media contacts
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