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Ørsted's clamp on Taiwan only a partial success

Renewed pressure on suppliers did not reap enough bounty for Ørsted to downgrade expected offshore wind installation costs for Taiwan, where the company praises authorities after their feud.

Photo: /Ritzau Scanpix/Mads Claus Rasmussen/

Tuesday, Ørsted became the first developer to make a final financial decision for a large offshore wind project in Taiwan. Effective almost immediately, the Danish wind major is beginning construction of projects Changhua 1 and 2a with a combined effect of 900 MW, set for commissioning in 2022.

Prior to securing this economic foothold, Ørsted had otherwise engaged itself in some serious saber rattling by, among other things, suspending its projects in January, when Taiwan's authorities reduced the initially promised feed-in-tariff rates by around 12 percent. One month passed, and roughly half of the tariff reduction was restored before development resumed – although the utility did announce that supplier contracts would need to be renegotiated.

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