Ørsted Sells 55% Stake in 632 MW Greater Changhua 2 Offshore Wind Farm to Cathay Life Insurance
Ørsted has agreed to sell a 55% stake in the 632 MW Greater Changhua 2 Offshore Wind Farm to Cathay Life Insurance for approximately DKK 5 billion, with the transaction expected to close upon the project's commercial operations. The wind farm, located off the coast of Changhua County, includes both the operational Greater Changhua 2a and the under-construction Greater Changhua 2b, which is set to become operational by Q3 2026. This divestment aligns with Ørsted's capital recycling strategy and supports Cathay's commitment to Taiwan's renewable energy transition.
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Ørsted has entered an agreement with Cathay Life Insurance and its affiliate Cathay Power to sell a 55% stake in the 632 MW Greater Changhua 2 Offshore Wind Farm, located 50-60 km off the coast of Changhua County, Taiwan. The project includes the operational Greater Changhua 2a (295 MW) and the under-construction Greater Changhua 2b (337 MW), expected to be operational by Q3 2026.
The transaction, valued at approximately DKK 5 billion (TWD 25 billion), will close upon the project's commercial operations. Ørsted will provide long-term operations and maintenance services from its hub at the Port of Taichung. This divestment contributes to Ørsted's strategy of capital recycling and has generated proceeds of about DKK 33 billion in 2025, with a target of over DKK 35 billion for 2025 and 2026. The partnership enhances Cathay's commitment to Taiwan's renewable energy transition.
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