Hai Long team confirms €3bn Taiwan wind financing deal

(ReNews, Winchester UK, 17 October 2023) Northland Power and its partners have met all conditions and completed the NT$117bn (€3bn) financing for the 1 GW Hai Long offshore wind project off Taiwan. The financing will be provided by 16 international and local banks, including China Trust, Taipei Fubon Bank, Taiwan Life, Fubon Life, HSBC, Crédit Agricole Bank, Auspreci Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank MUFG Bank and Deutsche Bank. A high proportion of the funds in this joint loan case will be provided by local financial institutions. At the same time, Hai Long has obtained the highest credit guarantee ratio from Taiwan's history, provided by seven export credit agencies, including Export Development Canada (EDC), Japan Bank for International Cooperation (JBIC), Japan Trade Insurance (NEXI) and UK Export Finance Agency.