Pine Wind Power to Acquire 26% Stake in Formosa 2 Offshore Wind Farm
- Editor
- Jan 23
- 2 min read
Updated: Jan 29
What's Happening: Pine Wind Power Co., Ltd, a subsidiary of J&V Energy, has agreed to acquire a 26% equity and debt interest in the 376MW Formosa 2 Offshore Wind Farm from Macquarie Asset Management. The investment will be supported by Taiwan Life Insurance Co Ltd and He Jun Energy Co Ltd, with JV Asset Management providing long-term asset management services.
The Key Moves:
Pine Wind Power to acquire 26% stake in 376MW Formosa 2 Offshore Wind Farm from Macquarie Asset Management.
Transaction supported by Taiwan Life Insurance and He Jun Energy, with JV Asset Management providing asset management services.
Formosa 2 Offshore Wind Farm comprises 47 Siemens Gamesa 8.0MW turbines, supplying power to approximately 380,000 Taiwanese households annually.
By The Numbers :
Formosa 2 Offshore Wind Farm has a capacity of 376MW.
The wind farm has been connected to the grid since March 2023.
JV Asset Management aims to reach US$1 billion in assets under management by 2026.
Key Quotes:
Kai Tan, Deputy CEO of J&V Energy: "Formosa 2 Offshore Wind Farm represents a compelling scale opportunity for J&V Energy to secure long-term contracted cashflows with Taipower."
Jerome Tan, CIO of J&V Energy and CEO of JV Asset Management: "We are delighted to partner with Taiwan Life and He Jun Energy on this landmark transaction matching long-term Taiwanese capital with world-class income producing assets."
Edward Northam, Head of Renewable Energy and Head of Asia Pacific for MAM Green Investments: "We are delighted to welcome J&V Energy, Taiwan Life, and He Jun, three Taiwanese investors committed to supporting the Formosa 2 project during its operational life and Taiwan's energy transition."
The Bottom Line: This acquisition marks J&V Energy's first operational wind farm investment in Taiwan, demonstrating its commitment to the country's energy transition. The deal also highlights the growing interest of Taiwanese investors in renewable energy assets and the increasing role of local capital in supporting large-scale offshore wind projects.
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