TotalEnergies and Corio Generation signed a joint venture partnership to develop the Formosa 3 offshore wind farms in Taiwan, TotalEnergies announced on Thursday.
The Formosa 3 project comprises three proposed windfarms, Haiding 1, 2 and 3, in Changhua County on the central-western coast of Taiwan.
When complete, the project will have a capacity of around 2 gigawatts (GW).
Corio has one of the largest offshore wind project portfolios worldwide, with more than 20 GW in development.
Under the agreement, Corio will remain the majority shareholder and lead developer with a 50% stake and 10 shares overall in the project.
TotalEnergies plans to grow its worldwide renewable portfolio from 17 GW in 2022 to 35 GW in 2025, ‘in line with our ambition to be one of the top 5 renewables developers by 2030,’ Vincent Stoquart, senior vice president of renewables at TotalEnergies, said.
The two companies have also collaborated on wind farms in Scotland, England, South Korea and France.
