Green Investment Group, EnBW partner with JERA on Taiwanese wind project

General view of the Negishi LNG Terminal, which is jointly operated by Tokyo Gas and JERA, in Yokohama, Japan October 17, 2019. Picture taken October 17, 2019. REUTERS/Yuka Obayashi

LONDON (Reuters) - Macquarie's Green Investment Group (GIG) and EnBW Energie Baden-Württemberg AG EBKD.DE have reached an agreement with Japanese utility JERA to join in developing Taiwan's Formosa 3 offshore wind farm.

JERA now holds a 43.75% stake in the project. The Green Investment Group holds 31.25% and EnBW holds 25%.

Financial details were not disclosed.

Formosa 3 is an offshore wind project off the central-western coast of Taiwan. It has three separate sites which have a total capacity of 2 gigawatts.

The project secured approval after an environmental impact assessment in 2018.

JERA’s entry into Formosa 3 follows previous partnerships on the Formosa 1 and Formosa 2 offshore wind projects.

“Taiwan is fast becoming Asia’s foremost offshore wind market,” said Mark Dooley, global head of the Green Investment Group.

Reporting by Nina Chestney; Editing by Edmund Blair