HEXA Renewables, a leading independent power producer in the Asia Pacific region backed by global infrastructure fund I Squared Capital, has teamed up with the Taiwan government's offshore solar division and completed the commissioning of the world's largest offshore floating solar power plant. Located in Changhua County in Taiwan, this groundbreaking project spans four plots totalling 347 hectares.
The initial stage of the project consisted of two plots (1 and 2) with a nameplate capacity of 181 MWac which was developed and built by Chenya Energy, a then-subsidiary of HEXA's current investor, I Squared Capital, in 2020. After the divestment of Chenya Energy in the same year, HEXA progressed with the development of the second stage of this project in collaboration with the Taiwanese government. This involved adding in an additional 192 MWac of power generation, making the combined project an aggregated capacity of 373 MWac, which is currently the largest offshore floating solar project in the world.
Driving Taiwan's Energy Transition
Beyond its impressive scale, HEXA's floating solar project marks a significant contribution toward Taiwan's decarbonisation targets, which include achieving 20 GW of renewable energy capacity by 2025 and reaching net-zero emissions by 2050. This project offsets 136,000 CO2 emissions annually and is able to supply renewable energy to approximately 74,000 households in Taiwan.
HEXA's achievements exemplify the power of public-private partnerships in advancing the clean energy transition. Constructed on land leased from the Taiwan government, this floating solar project not only expands the nation's renewable energy infrastructure but also strengthens Taiwan's position on the global stage as a pioneer in innovative floating solar technology.
Built on expertise, innovation, and a commitment to sustainability, the project not only benefits the Taiwanese community by enhancing sustainable energy security but also supports global efforts in the fight against climate change.
