France-based energy company Total has signed an agreement with wind project developer wpd to acquire a 23% interest in Yunlin Holding.
Yunlin Holding is the owner of the 640MW Yunlin offshore wind farm in Taiwan.
For the acquisition, Total has agreed to pay a consideration to wpd based on its share of past costs.
wpd currently owns a 48% stake in the Yunlin farm. Electricity Generating Public Company owns a 25% interest, while the remaining 27% is owned by a consortium of Japanese investors.
Companies in the consortium include Sojitz, ENEOS, Chugoku Electric Power, Chudenko and Shikoku Electric Power.
Located around 200km southwest of Taipei off the coast of Taiwan, the offshore wind facility is currently under construction.
The facility has a 20-year guaranteed-price power purchase agreement (PPA) in place with Taipower.
Covering 10km at water depths ranging from 7m to 35m, the facility will feature 80 wind turbines, each with an 8MW unit capacity.