Incremental financing of Hai Long: largest offshore wind project across Taiwan and APAC

The Hai Long Project, the largest offshore wind farm in APAC to date, secured on 11 August a NTD 55 billion (USD 1.7 billion eq.) incremental financing - a defining transaction in the Asia-Pacific renewable energy market.

The project is sponsored by Japanese investor Mitsui & Co., Canadian power producer Northland Power Inc., and Malaysian low-carbon energy company Gentari. Targeting commercial operations in early 2027, it is set to be the largest offshore wind farm in Taiwan and Asia Pacific once fully operational, supplying clean electricity to over one million households.

After the mandate of 2023 (read more Will open in a new tab ), Crédit Agricole CIB acted as sole Documentation Bank and ECA Coordinator, leading negotiations with a diverse group of Export Credit Agencies. The incremental financing drew 17 financial institutions — comprising Taiwan Export-Import Bank (EXIM), 6 Taiwanese state-owned banks, 6 Taiwanese commercial banks and 4 international banks — of which 11 are new lenders. 6 existing lenders, including Crédit Agricole CIB, increased their commitments.

This closing extends Crédit Agricole CIB's track record across all 10 offshore wind financings in Taiwan. The seamless coordination of a complex, multi-ECA, multi-lender structure involving over 30 finance parties further cements its position as a leading partner in Taiwan's offshore wind sector and its commitment to the region's energy transition.