Electricity Generating Public Company Limited or EGCO Group updates the significant progress of the Yunlin offshore wind farm construction campaign in Taiwan. The project team has successfully installed all 80 monopiles. The satisfactory progress reiterates the company’s intention to complete the construction and connect the wind turbine generators (WTGs) with a total capacity of 640 MW to the grid by the end of 2024. Once completed, the project will steadily generate revenue and strengthen EGCO Group’s cash flow.
Dr. Jiraporn Sirikum, EGCO Group’s President, stated, “The Yunlin project has shown remarkable progress regarding its completion of all monopile installation, which was the most challenging part of the construction campaign, ahead of schedule. Meanwhile, the other works have made impressive progress. The successful completion of the significant construction progress demonstrates all related parties’ good cooperation and project management capabilities. Based on all partners’ commitment to Taiwan’s clean energy transition as well as the continuous support from the Taiwanese government in all aspects, EGCO Group is confident to complete the rest of the project construction within 2024 as planned. So far, the project has installed 56 WTGs and is on track to complete the installation of remaining 24 WTGs out of 80 WTGs with a combined capacity of 640 MW by the end of 2024. Once completed, the Yunlin project is expected to generate a constant cash flow for EGCO Group with approximately THB 2,000 million per year for the first 5 years of its full operation.”
EGCO Group owns 26.56% stakes in the 640 MW Yunlin offshore wind farm. The project is located in the Taiwan Strait, between 8 and 30 kilometers off the west coast of Taiwan, and covers an overall area of 90 square kilometers. It delivers electricity under a 20-year power purchase agreement with Taipower (Taiwan Power Company). The completed WTGs fed to the grid has an average capacity factor in excess of 40%, confirming its capability to generate future income. Once completed by the end of 2024, the 640 MW Yunlin Project will be one of the largest offshore wind farms in Taiwan, producing enough clean energy to serve the energy needs of more than 600,000 Taiwanese households.
