Taipei: EGCO Group is looking for more deals in Taiwan after successfully expanding renewable energy according to the joint venture plan of Yunlin offshore wind farm, which has supplied electricity to the grid for 80 units in January 2025 and has received the electricity business license for official commercial operation with a total capacity of 640 megawatts in June 2025.
According to Thai News Agency, Dr. Jiraporn Sirikham, President of EGCO Group, revealed that in 2025, the Yunlin project will be able to recognize full-year revenue, which will help support EGCO Group’s goal of increasing renewable energy power generation capacity to 30% of total capacity by 2030. In addition, Taiwan also has a plan to move forward with many renewable energy power plants. Therefore, EGCO Group is studying to expand investment by focusing on projects that have already been initiated in the form of mergers and acquisitions in order for the company to receive rapid returns, with a target return of no less than 8% ROE.
EGCO Group began investing in Taiwan in late 2019 by acquiring shares in Yunneng Wind Power Co., Ltd., which is currently constructing the Yunlin offshore wind farm project. It foresees that Taiwan has a clear policy to promote clean energy. The goal of reducing reliance on nuclear and coal has significantly increased the proportion of clean energy. It is also an area with potential for offshore wind investment, especially in the Taiwan Strait, which is one of the windiest areas in the world. The Taiwanese government has promoted investment for foreign investors by allocating a large budget to support the transition to clean energy and a green economy.
Yunlin is operated by Yunning Wind Power Co., Ltd., a joint venture between Skyborn Renewables (31.98%), TotalEnergies (29.46%), EGCO Group (26.56%) and Sojitz Corporation (12%). After receiving its Electricity Business License (EBL) for commercial operation in June, TotalEnergies is currently responsible for the primary O and M, while Skyborn Renewables is handling the project management. The other two shareholders, EGCO Group and Sojitz Corporation, provide support for the power generation business and management in Taiwan, as well as make key management decisions for the project.
Yunlin is located in the Taiwan Strait, approximately 8-17 kilometers from the west coast of Yunlin County, Taiwan. The depth ranges from 7-35 meters and covers an area of approximately 82 square kilometers. It consists of 80 wind turbines with a capacity of 8 MW each, for a total capacity of 640 MW. The electricity generated is transmitted to Taiwan’s power grid through two onshore power stations in Taixi and Shihu Townships in Yunlin County, for sale to Taiwan Power Company (TPC) under a 20-year power purchase agreement.
Yunlin is one of the largest offshore wind farms in Taiwan, with an annual electricity generation capacity of 2.4 billion units, which can power more than 600,000 Taiwanese households, accounting for 90% of Yunlin County’s total household electricity demand, and reduces carbon dioxide emissions by approximately 1.2 million tons per year. Over the years, Yunlin has been a leader in protecting the environment and supporting the local community, working closely with local communities, fisheries associations and universities to reduce the impact on the ecosystem.
Dr. Jiraporn said that Yunlin is the first offshore wind farm of EGCO Group operating in Taiwan. In addition to helping create green energy for Taiwan, it also helps increase the renewable energy production capacity in proportion to the shareholding of EGCO Group by approximately 170 megawatts. At the same time, it also helps EGCO Group achieve its goal of increasing the proportion of electricity production from renewable energy to 30% by 2030. In terms of performance, Yunlin is expected to generate cash flow for EGCO Group on average of 2,000 million baht per year during the first 5 years of the full project implementation. In the first 5 months of 2025 (January-May 2025), Yunlin had an electricity production capacity (Capacity Factor) of approximately 35%. This high average Capacity Factor confirms the potential of wind energy in the Taiwan Strait and future income generation.
‘The success of the investment in Yunlin creates opportunities for further investment in other projects in Taiwan in the future, as Yunlin opens up the investment market for EGCO Group in Taiwan, which is a potential market and an important strategy for investing in clean and renewable energy. The Taiwanese government recognizes EGCO Group as a potential Thai investor with commitment to successfully implementing the project. EGCO Group has knowledge and expertise in offshore wind power plants from the Yunlin project and has highly experienced and specialized partners. The company has been preparing and continuously seeking new investment opportunities, especially in renewable energy and natural gas projects. If it is considered appropriate, the knowledge gained from this project will be used as a basic factor for further consideration,’ said Dr. Jiraporn.