Page 9 - AsiaElec Week 45

AsiaElec RENEWABLES AsiaElec
Denmark’s Ørsted completes opening of Taiwan’s Formosa 1 wind farm
TAIWAN
DENMARK’S Ørsted has completed the launch of operations at phase 2 of the Formosa 1 wind farm in Taiwan.
The TWD18.7bn ($614mn), 128-MW pro- ject is Taiwan’s first commercial offshore wind farm, and forms the first part of the Taiwanese government’s plans to build 5.7 GW of offshore wind capacity by 2025.
Ørsted (35%) built Formosa 1 in partnership with JERA (32.5%), Macquarie Capital (25%) and Swancor (7.5%).
Commercial generation began on September 5, when six turbines started operations.
The wind farm is located 2-6km off the coast of Miaoli County and boasts 128 MW of capacity from 20 Siemens Gamesa 6-MW turbines and two Siemens Gamesa 4-MW turbines.
The two smaller turbines formed the ini- tial phase 1 of the Formosa 1 project and were opened in 2017.
“Formosa 1 marks the first milestone for Ørsted’s expansion in Asia-Pacific. With this successful first step, we are confident that Ørsted will continue to lead the growth of offshore wind inAsia,”saidMatthiasBausenwein,presidentof Ørsted Asia-Pacific and chairman of Formosa 1.
As well as Formosa 1, Ørsted is building the 900-MW Greater Changhua 1&2a projects in
Taiwan, which are expected to open in 2022. Ørsted has recently been awarded the con- tract to develop an additional 920 MW at Greater Changhua 2b&4, which, subject to final investment decision (FID), is anticipated to be
completed in 2025.
In total, Ørsted has obtained site exclusivity
on four offshore wind sites with a planned total generation capacity of 2.4 GW.
On November 8, Ørsted and EPC contrac- tor Taiwan Cogeneration Corp. (TCC) broke ground for the onshore susbstation for the Changhua 1&2a projects.
TCC is to build two onshore substations for Changhua 1&2a, along with cable corridors and transition joint bays for the 900-MW project.
The contract, worth over TWD7bn ($230mn), is being now executed by Star Energy Corp. (SEC), a 100% subsidiary of TCC.
As well as TCC’s contract, Ørsted has also signed deals with Sing Da Marine Structure for jacket foundations and with Siemens Gamesa Renewable Energy for wind turbines.
Ørsted has recently raised TWD12bn ($394mn)fromalocalgreenbondissue,thefirst ever green TWD bond to be issued by a foreign company in Taiwan, to finance its investments in offshore wind in the country.™
POLICY
KEPCO to sell electricity to Guam for 25 years
South Korea’s state-run utility KEPCO has signed a deal with the Guam Power Authority to sell electricity to the US Pacific territory for 25 years after building a power plant.
Under a deal, Hyundai Engineering Co. will begin the construction of a 200MW combined cycle power plant in Guam in August 2020, and its commercial operation is set for October 2022, KEPCO said.
KEPCO and its wholly owned subsidiary, Korea East West Power Co., have a 60% stake and a 40% stake, respectively, in their special purpose company set up for the project.
The two companies will share $2.06bn in income from selling electricity over the next 25 years, KEPCO said.
Under a contract, KEPCO and Korea East West Power will operate the power plant for
NEWS IN BRIEF
25 years before transferring it to the Guam Power Authority.
DEMAND
India’s electricity demand
falls at fastest pace in at
least 12 years
India’s power demand fell 13.2 per cent in October from a year ago, posting its steepest monthly decline in over 12 years, government data showed, reflecting a deepening growth slowdown in Asia’s third-largest economy.
The South Asian country needs electricity to fuel its expanding economy but a third decline in power consumption in as many months points to tapering industrial activity in the nation that aims to become a $5 trillion economy by 2024.
India’s June quarter GDP grew at its weakest pace in six years as consumer demand
and government spending slowed, and economists see the falling electricity demand as a reflection of a further slowdown.
“The slowdown seems to be deep rooted, especially in the industrial sector. That would certainly increase the anxiety with regard to growth prospects in the current year,” said NR Bhanumurthy, a professor at the National Institute of Public Finance and Policy in New Delhi.
Consumption in heavily industrialized states such as Maharashtra and Gujarat led the decline. Last month, power demand in Maharashtra declined by 22.4 per cent and
in Gujarat by 18.8 per cent, the data from the Central Electricity Authority (CEA) showed. Barring four small states in the country’s north and the east, demand fell across regions, the data showed.
India’s power demand fell 13.2 per cent in October from a year ago, posting its steepest monthly decline in over 12 years, government data showed, reflecting a deepening growth slowdown in Asia’s third-largest economy.
Week 45 13•November•2019
w w w . N E W S B A S E . c o m
P9