K2 completes due diligence on Cathay Life wind farm

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K2 Management, a renewable energy engineering and project management consultancy, has completed due diligence on Taiwanese insurer Cathay Life’s investment in Greater Changhua 4 – a 583-MW offshore wind farm in Taiwan. Cathay Life has now become a 50 percent shareholder in the project alongside Ørsted, a Danish renewable energy company.

The Greater Changhua 4 – North West wind farm, 50 kilometers offshore in the Taiwan Strait, is due to enter operation in 2025. (Courtesy: K2 Management)

The Greater Changhua 4 – North West wind farm, 50 kilometers offshore in the Taiwan Strait, is under construction and due to enter operation in 2025. This investment – the largest made by a Taiwanese corporate – demonstrates the benefits, including financial strength, technical expertise and industry best practices, that collaboration between international and local investors can bring to Taiwan’s rapidly growing offshore wind industry. 

For Cathay Life, K2M provided full-scope technical due diligence to support the landmark investment. This two-year due diligence phase included reviewing the wind farm’s projected energy yield, technical performance, and associated contracts.

“This significant investment will help bolster the industry and accelerate Taiwan’s renewable energy transition, and we’re delighted to have supported Cathay Life on this important project,” said a K2M representative.

This is the first project K2M has completed for Cathay Life under a technical advisory framework agreement between the two.

More info www.k2management.com