SRE's Construction-Ready Formosa 4 Sells Out of Capacity　Urging Action on Financing to Support Energy Transition

Synera Renewable Energy Group (SRE), a benchmark offshore wind developer in the Asia-Pacific region, today announced that its Formosa 4 Offshore Wind Project has successfully completed the full allocation of its electricity trading and is fully prepared to proceed with construction. The company now looks forward to working closely with the government and domestic financial institutions to advance project financing, accelerate the energy transition, and achieve long-term sustainability goals.

The Formosa 4 project was awarded 495 MW of capacity in 3.1 auction in 2022. Following the signing of a power purchase agreement earlier this month with Taiwan Smart Electricity & Energy Co., Ltd., the project has subsequently entered into multiple Corporate Power Purchase Agreements (CPPAs) with leading domestic enterprises and power service management companies. With these agreements in place, the entire output of the project has now been fully contracted.

Lucas Lin, Chairperson at SRE, stated: "We are delighted to see the Formosa 4 project achieve significant milestones in CPPAs. This represents a strong vote of confidence for SRE's development team and underscores our privilege in supplying large volumes of green electricity to Taiwan's export-oriented industries—an increasingly critical competitive advantage in global markets.

Looking ahead, under the guidance of the government, we are keen to actively advance project financing. In particular, the government's consistent and reliable approach to financing guarantee mechanisms will be a decisive pillar for the project's smooth progression. Such support will enable us to accelerate construction and respond promptly to the urgent demand for green power from enterprises, while continuing to contribute meaningfully to Taiwan's energy transition and environmental sustainability."

The Formosa 4 Project is located off the coast of Miaoli County and obtained its establishment permit by the end of 2024. It became the first project among all capacity-awarded sites in the same auction round to reach this major development milestone. Upon completion, the project is expected to generate approximately 2 billion kWh of electricity annually, delivering a reliable and high-quality green power supply to corporate users in Taiwan.