Electricity Generating Public Company Limited (EGCO) announced Greenwing Energy B.V., a wholly owned subsidiary of EGCO, has entered into a share purchase agreement to acquire a 25% ownership interest in Yunlin Holding GmbH (Yunlin) owned by Taiwan Offshore Holding GmbH on December 19, 2019. This investment was approved by the Board of Directors of EGCO in the Meeting held on November 22, 2019. Herewith, EGCO would like announce that the transaction was completed on April 17, 2020.
Yunlin is a holding company which owns 100% of Yunneng Wind Power Co., Ltd. of Taiwan. Yunneng is constructing a 640MW offshore wind farm which will be situated in the Taiwan Strait approximately 8 km west of the coast of Yunlin County in Taiwan. Commissioning of the project will occur in phases, with phase 1 comprising 352MW scheduled for completion in Q4 2020, and phase 2 comprising 288MW scheduled for completion in Q3 2021.