This acquisition represents J&V Energy’s initial foray into operational wind farm investments within Taiwan. Credit: J&V Energy Technology/PRNewswire.

Pine Wind Power, a wholly owned subsidiary of J&V Energy, has announced an agreement with Macquarie Asset Management (MAM) to acquire 26% equity and debt interests in the 376MW Formosa 2 offshore wind farm.  

The acquisition will be supported by financial backing from J&V Energy’s partners, Taiwan Life Insurance and He Jun Energy.  

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Additionally, JV Asset Management, an affiliate of J&V Energy, will provide long-term asset management services as part of the transaction. 

Situated off the coast of Miaoli County, the Formosa 2 offshore wind farm features 47 Siemens Gamesa 8.0MW wind turbine generators that have been supplying power to approximately 380,000 Taiwanese households annually since their grid connection in March 2023.  

The project was developed by MAM in collaboration with JERA and Synera Renewable Energy and is one of Taiwan’s pioneering large-scale offshore wind projects. 

MAM Green Investments head of renewable energy and head of Asia-Pacific Edward Northam said: “Macquarie was an early participant in Taiwan’s offshore wind industry, combining local knowledge with extensive offshore wind expertise from Europe. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“We proudly supported the early development and construction of offshore wind projects, creating investment opportunities before bringing in long-term partners. 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.” 

This acquisition represents J&V Energy’s initial foray into operational wind farm investments within Taiwan.  

It builds upon the company’s previous experience in developing and investing in other Taiwanese wind projects such as Formosa 4 and 5, and the Huan Yang Offshore Wind Farm. 

J&V Energy deputy CEO Kai Tan said: “Formosa 2 Offshore Wind Farm represents a compelling scale opportunity for J&V Energy to secure long-term contracted cash flows with Taipower and demonstrates our continuing commitment to Taiwan’s energy transition ambitions.  

“We look forward to joining JERA and Synera Renewable Energy in delivering lasting operational success for the asset.”