Taiwan's under-construction Hai Long offshore wind project has secured a $1.7bn (NT$55bn) financing package, adding new lenders and improving terms as the project nears commissioning set for the end of 2026, according to Splash247.
Financing structure and terms
According to Splash247, the additional funding sits within the existing project finance structure and is intended to reinforce the financial base for construction and long-term operations. The deal builds on an earlier multi-billion-dollar facility arranged in 2023, backed by credit agencies from six countries and a syndicate of international and local banks.
Beyond the original seven ECAs (export credit agencies) and the established lender group, the tranche has drawn in the National Credit Guarantee Administration and 17 financial institutions, the publication reported.
Lender syndicate expands to 35 institutions
Six existing lenders increased their commitments: Taipei Fubon Commercial Bank, HSBC, Crédit Agricole CIB, CTBC Bank, DBS and King's Town Bank. Eleven banks are joining the financing for the first time, including Mega International Commercial Bank, Chang Hwa Commercial Bank, The Export-Import Bank of Taiwan, Hua Nan Commercial Bank, Land Bank of Taiwan, Taiwan Business Bank, Taiwan Cooperative Bank, Taichung Commercial Bank, Bank of Panhsin, Entie Commercial Bank, and Société Générale.
The total number of institutions supporting Hai Long now stands at 35, according to Splash247. The table below summarises the lender groups:
| Existing lenders increasing commitments | New lenders joining for first time |
|---|---|
| Taipei Fubon Commercial Bank | Mega International Commercial Bank |
| HSBC | Chang Hwa Commercial Bank |
| Crédit Agricole CIB | The Export-Import Bank of Taiwan |
| CTBC Bank | Hua Nan Commercial Bank |
| DBS | Land Bank of Taiwan |
| King's Town Bank | Taiwan Business Bank |
| Taiwan Cooperative Bank | |
| Taichung Commercial Bank | |
| Bank of Panhsin | |
| Entie Commercial Bank | |
| Société Générale |
Project profile
Hai Long is being developed about 45–70 km off Changhua county, Splash247 reported. The wind farm will comprise 73 turbines and more than 1GW of installed capacity. When fully operational, it is expected to become the largest offshore wind farm in Asia, generating enough electricity to cover the annual demand of more than 1m households, according to the report.
| Project parameter | Detail |
|---|---|
| Location | 45–70 km off Changhua county |
| Turbines | 73 |
| Installed capacity | >1GW |
| Annual household demand covered | >1m |
| Commissioning target | End of 2026 |
Project finance impact
The $1.7bn (NT$55bn) tranche sits within the existing project finance structure and is intended to reinforce the financial base for construction and long-term operations, according to Splash247. The publication noted that the package adds new lenders and improves terms ahead of commissioning at the end of 2026.
The financing builds on an earlier multi-billion-dollar facility arranged in 2023, backed by credit agencies from six countries. The current tranche has drawn in the National Credit Guarantee Administration and 17 financial institutions, bringing total supporting institutions to 35, as reported by Splash247.
For project sponsors and their financial counterparties, the widening of the lender group and the improved terms form the basis for the financing's stated purpose of supporting the project through construction and into operations, according to the report.
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