Today we celebrated together with the Minister for Economic Affairs, Mrs. Ho, the official start of construction at the Miaoli windfarm site. The project, located directly on the northwest shore of Taiwan, is the first privately financed windfarm on the island. With a total capacity of 49.8 MW it will also be the largest of the country.
Turbine manufacturer Enercon is building the whole windfarm by order of infraVest Wind Power Co. Ltd., Taipei. The foundation work for the 25 turbines of the E70 / 2.0 MW model has already begun.
Development, financing and building of this first commercial windfarm project of Taiwan is managed by the German infraVest GmbH, part of the VWind AG (innoVent-infraVest Group)
The financing is innovative. For the first time the German Hermes Export Insurance covered the currency exchange risk for a windfarm project. With the German Banks KfW, IKB and DEG as partners, this finance solution could be example for many other worldwide projects in the future.
The Minister for Economic Affairs, Mrs. Ho commended the project as an example for further renewable energy projects on the Taiwan island. A representative of the German government said, the coverage of the state owned Hermes Insurance shows, that the government supports the expansion of renewable energy also in Taiwan.
The windfarm will be set into operation at the end of this year, to produce electricity for about 40,000 Taiwanese households.