Ørsted selects Taiwanese and international banks for financing Greater Changhua projects

Global offshore wind leader Ørsted is dedicating all efforts in developing the first 900MW Greater Changhua projects and has announced today that Bank of Taiwan, Cathay United Bank and BNP Paribas have been appointed as lead arrangers for its targeted five-year NT$ twenty-five billion syndicated revolving credit facility. The deal is expected to be signed during first quarter of 2019 and aim at having at least 10 banks in the final deal, mostly local banks.

Matthias Bausenwein, President for Ørsted Asia Pacific, said that “Ørsted will fund the Greater Changhua projects by capital contributions from the Ørsted Group combined with debt capital sourced from local Taiwanese financial institutions - backed by a Ørsted A/S parent company guarantee. We intent to finance up to 50% of our CAPEX needs in local currency from the Taiwanese bank and bond market. This will give local banks and lifers a great opportunity to participate in the offshore wind sector with very low risk exposure.”

Matthias Bausenwein added, “Ørsted has a strong desire to use the new regulation to issue New Taiwan Dollar green bonds. We see the local bond market as our long term primary source of funding in Taiwan and thus will look to issue bonds regularly over the coming years. We expect the first bond to be issued during 2019, with the exact timeline depending on our Final Investment Decision for the Greater Changhua 1&2a projects.

For further information, please contact: 

Ørsted Asia-Pacific Media Relations
Rachel Chan
+886 933 529 367