Ørsted Partners with Cathay Life Insurance for Greater Changhua 4 Wind Farm

Ørsted A/S has finalized an agreement with Cathay Life Insurance, Taiwan's leading insurance provider, to co-invest in the Greater Changhua 4 Offshore Wind Farm. Cathay will acquire a 50% stake in the 583 MW wind farm, with Ørsted maintaining the other half.

The Greater Changhua 4 is part of a broader project totaling 920 MW, alongside Greater Changhua 2b. Expected completion is set for late 2025. This deal is valued at DKK 11.6 billion and includes joint financial responsibilities for construction contracts. All necessary regulatory approvals have been met, and the transaction should close by year-end.

Ørsted will handle full-scope EPC construction and long-term operations from its hub in Taichung. Cathay's investment highlights support for Taiwan's renewable energy shift. The investment, backed by local and international financiers, marks a significant green financing milestone in Taiwan.