DNV has successfully acted as Lenders’ Technical Advisor (LTA) for the project financing of Ørsted’s 632 MW Greater Changhua 2 offshore wind farm in Taiwan, which achieved financial close in July 2025.
Located 50-60 km off the coast of Changhua County, this significant project encompasses the operational Greater Changhua 2a and the under-construction Greater Changhua 2b, with backing from 25 banks and five export credit agencies. DNV's involvement follows its earlier LTA role on the adjacent 583 MW Changhua 4 project, reinforcing its position as a trusted advisor in Taiwan’s offshore wind sector.
As part of its advisory role, DNV delivered an independent energy yield assessment and comprehensive technical due diligence of the wind farm and associated transmission assets.
“DNV’s appointment as Lenders’ Technical Advisor reflects our deep offshore wind expertise, deep knowledge of Taiwan environment, and longstanding relationship with Ørsted. The financial close represents a major milestone in Taiwan’s energy transition and ensures further progress on Ørsted’s strategic divestment and partnership programme. It demonstrates strong lender confidence and sets a benchmark for future offshore wind projects in Asia, particularly those involving advanced turbine technology and complex geotechnical conditions,” said Brice Le Gallo, Vice President and Regional Director, APAC, Energy Systems at DNV.
Ming Hui Zhang, APAC Offshore Wind Segment Lead, Energy Systems at DNV highlighted that “DNV's role in providing independent technical assurance to lenders has contributed to a confident and timely financial close for this complex, large-scale offshore wind project, which is situated in a seismic and typhoon-prone region.”
The Greater Changhua 2 project will produce clean energy equivalent to the power usage of hundreds of thousands of homes, and support local job creation and supply chain development in Taiwan. It supports the country’s ambition to install 5.7 GW of offshore wind by 2025 and 15 GW by 2035, while enhancing energy security and sustainability.
DNV’s Energy Transition Outlook report 2024 forecasts that with annual growth rates of 12% expected for offshore wind until 2050, offshore wind will play a pivotal role in the future energy mix. As the demand for renewable energy continues to grow, DNV remains committed to supporting the development of sustainable energy solutions that contribute to a greener future.