Germany's EnBW expands to Taiwan in renewable expansion push (updated)
12/02/2018 08:36
* EnBW takes 37.5 pct in each project
* Enters partnership with Macquarie, Swancor
* EnBW to spend 5 bln eur on renewables by 2025
(Adds details on partnership, Taiwan offshore market)
FRANKFURT, Feb 12 (Reuters) - German utility EnBW EBKG.DE
on Monday said it took stakes in three offshore wind projects in
Taiwan with a volume of about 2 gigawatt, marking the first such
investment outside Europe in the group's renewables expansion.
EnBW said it acquired 37.5 percent in each of the three
projects, adding it had therefore entered a partnership with
energy infrastructure investor Macquarie MQG.AX and
Taiwan-based chemicals and composite material maker Swancor
3708.TW .
No financial details were disclosed. EnBW, Germany's
fifth-largest listed energy group, has said that it plans to
invest more than 5 billion euros ($6.13 billion) to expand its
renewables business by 2025.
"In moving into project development in Taiwan, we have
opened the latest chapter in our offshore wind activities," Dirk
Guesewell, head of generation portfolio development at EnBW,
said in a statement.
"The expertise that we have built up in the offshore wind
sector in the last few years is in demand worldwide, and we want
to export it."
EnBW rivals including Danish offshore wind market leader
Orsted ORSTED.CO have already expanded into Taiwan, which
expects the local offshore wind market to grow to $4 billion in
2025. urn:newsml:reuters.com:*:nC7N1AJ01R urn:newsml:reuters.com:*:nB9N1E709M
($1 = 0.8153 euros)
($1 = 29.3090 Taiwan dollars)
(Reporting by Christoph Steitz; Editing by Maria Sheahan)
((christoph.steitz@thomsonreuters.com; +49 69 7565 1269;
Reuters Messaging:
christoph.steitz.thomsonreuters.com@reuters.net))
Keywords: ENBW ENERGIE WINDFARM/TAIWAN