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Hai Long Offshore Wind Expands Financing Support to 35 Institutions

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Hai Long Offshore Wind on Tuesday secured $55 billion New Taiwan dollars ($1.71 billion) in incremental financing, bringing 11 new banks into its funding structure and strengthening support for the project's completion.

The financing, arranged within the existing project-financing framework, gives Hai Long access to more competitive terms and improves its capital structure as construction advances.

Located 45 kilometers to 70 km off Changhua County, the project will feature 73 wind turbines with over 1 gigawatt of total capacity and targets grid connection by end-2026.

Hai Long expects to rank as Asia's largest single offshore wind farm once operational, with annual clean power generation enough to meet the demand of over 1 million Taiwanese households.

The financing retains backing from seven existing export credit agencies and the lending syndicate, while the National Credit Guarantee Administration and 17 financial institutions also joined the package.

Six existing lenders increased their commitments under the financing package, including Taipei Fubon Commercial Bank, The Hongkong and Shanghai Banking Corporation, Credit Agricole Corporate and Investment Bank, CTBC Bank, DBS Bank and King's Town Bank.

A total of 11 banks joined the project's financing structure for the first time, including Mega International Commercial Bank, Chang Hwa Commercial Bank, The Export-Import Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Taiwan Business Bank, Taiwan Cooperative Bank, Taichung Commercial Bank, Bank of Panhsin, Entie Commercial Bank and Societe Generale.

The new participants include Taiwanese state-owned and commercial banks as well as international lenders, bringing the total number of financial institutions supporting the offshore wind project to 35.

Hai Long said stronger participation from Taiwanese banks reflects financial-market confidence in the project and Taiwan's energy transition, while highlighting the growing maturity of the country's green-finance market.

"This financing optimization demonstrates the strong collaboration among the government, financial sector, and private enterprises in advancing Taiwan's energy transition and the development of green finance," said Tim Kittelhake, CEO and Project Director of Hai Long project.

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