Ørsted has signed an agreement with Cathay Life Insurance and its affiliate Cathay Power under which Cathay will acquire a 55% ownership stake in the 632 MW greater changhua 2 offshore wind farm off the coast of Changhua County, taiwan.
The site is located around 50–60 km offshore and comprises greater changhua 2a (295 MW), which is operational, and greater changhua 2b (337 MW), which is under construction with commissioning expected in the third quarter of 2026. Ørsted will continue to provide long-term operations and maintenance services from its hub at the Port of Taichung.
The transaction value for the 55% equity stake is approximately DKK 5 billion, equivalent to about TWD 25 billion, and reflects existing project financing arrangements. Completion of the transaction is planned to coincide with the project reaching commercial operations, expected in the third quarter of 2026. In July 2025, Ørsted reached financial close on project financing of around DKK 20 billion for the full development.
Following this agreement, Ørsted’s divestments during 2025 total around DKK 33 billion, bringing the company close to its stated target of securing more than DKK 35 billion in proceeds through partnerships and divestments across 2025 and 2026.
