Share:
You might also be interested in
Acted as LTA and LESA
expected completion date
The Hai Long offshore wind farm, located 45-70 km off the West coast of Changhua County in Taiwan, is one of the first large-scale offshore wind projects in the region.
Sponsored by Mitsui & Co., Ltd., and Northland Power Inc., this project is set to contribute significantly to Taiwan’s energy transition goals, with a planned capacity of just over 1GW. The wind farm is expected to be fully operational by 2026.
Developing a large-scale offshore wind project in a region with unique environmental and regulatory conditions presented several challenges. These included ensuring technical performance, addressing environmental and social impacts, and meeting stringent local regulatory requirements.
We were appointed as the Lender’s Technical Adviser (LTA) and Lender’s Environmental and Social Adviser (LESA) for the Hai Long project. Our contributions were necessary in the successful signing of the credit agreement for the Hai Long project, marking a significant milestone in Taiwan’s offshore wind journey. By providing thorough technical and environmental assessments, we helped secure the necessary financing, laying a solid foundation for the project’s future success.
Daniel Faith, Senior Consultant at K2M, said: "We’re pleased to have been selected as both the LTA and LESA for Hai Long. As well as being able to work on a ground-breaking project for Taiwan, we worked closely with lenders and ECAs to ensure that risks and opportunities related to the technical performance were recognised and accounted for. We will now continue to provide a comprehensive level of value to the project and lenders throughout its construction and operational phases.”
Scott Hsu, Country Director – Taiwan & Philippines at K2M, added: "The Hai Long offshore wind farm represents a significant step in Taiwan's offshore wind journey, and we’re honoured to be part of it. Our team is dedicated to ensuring Hai Long’s significant achievement, and after our official subsidiary opening in Taiwan this year, we’re closer than ever to our clients and the communities the projects we’re working on will ultimately serve. We are looking to expand our LTA and LESA services into new APAC markets, including Korea and Japan, but also other projects in Taiwan itself — and as we venture into those opportunities, we hope that our work on Hai Long is a testament to the quality of our advisory services.”
“K2M’s technical insights have been an important asset to us throughout the development phase, and will continue to inform the project trajectory as it progresses through construction and operation. As well as solidifying investor confidence in the Project’s ability to succeed and ultimately having led to this financial close, K2M’s work has benefited the Taiwanese Offshore Wind Industry through supporting such a landmark project.”