Export Finance Australia backs offshore wind project in Taiwan
Export Finance Australia (EFA) is providing a guarantee of approximately AUD170 million equivalent to support the 583 MW Greater Changhua 4 Offshore Wind Farm in Taiwan.
Media release
4 February 2025
Export Finance Australia (EFA) is providing a guarantee of approximately AUD170 million equivalent to support the 583 MW Greater Changhua 4 Offshore Wind Farm in Taiwan.
Once completed, the project will power nearly two million households and reduce carbon emissions by 3.5 million tonnes annually, contributing to Taiwan’s 2050 net zero target.
EFA is working alongside the project’s financing partners, including international banks, Credendo, the Export and Investment Fund of Denmark (EIFO), Korea Trade Insurance Corporation (KSURE), Taiwanese National Credit Guarantee Administration (NCGA), and UK Export Finance (UKEF) to back this significant renewable energy project through a transaction with a total value of around US$1.6 billion.
EFA Managing Director and CEO, John Hopkins, said the deal highlights EFA’s role in advancing infrastructure development across the Indo-Pacific and builds on EFA’s strong support for the energy transition, with finance delivered across the region and Australia for renewable energy, electric vehicle and critical minerals projects.
“Export Finance Australia is proud to support this project, which demonstrates the power of global partnerships to deliver large-scale, clean energy infrastructure,” Mr Hopkins said.
“This transaction reinforces our commitment to offshore wind and renewable energy as a critical solution for the energy transition.”
The Greater Changhua 4 investment forms part of Australia’s strategy to drive sustainable infrastructure development and economic growth in the Indo-Pacific.
ENDS
Media Contact
Eleanor Brophy, +61 400 806 103, media@exportfinance.gov.au
About Export Finance Australia (EFA)
EFA is Australia’s export credit agency. EFA provides commercial finance for export trade and overseas infrastructure development. From small and medium sized enterprises to large corporates, foreign governments and infrastructure projects, we help Australian businesses take on the world. In doing so, EFA finance supports Australia’s economic security and regional resilience.
EFA administers the Australian Government’s National Interest Account, which currently includes the Southeast Asia Investment Financing Facility, the Critical Minerals Facility, the Defence Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific. EFA also provides support to other Commonwealth entities, including Housing Australia and the Northern Australia Infrastructure Facility.
