K2 Management (K2M), a leading global renewable energy project management consultancy, announces its critical role in supporting the credit agreement signing of the Hai Long offshore wind farm in Taiwan. The project is sponsored by Mitsui & Co., Ltd., and Northland Power Inc., and is located approximately 45-70 km off the West coast of Changhua County in Taiwan.
With Hai Long set to achieve a combined capacity of just over 1GW, the project is a significant contributor to the local government’s overall energy transition goals. Construction is expected to be completed by 2026, with operations anticipated to span over 25 years. The project has achieved NTD117 billion in debt provision from lenders and Export Credit Agencies (ECAs), who are supporting Hai Long through long-term project financing: one of the first large-scale offshore wind projects to do so in Taiwan.
As the appointed Lender’s Technical Advisor (LTA) and Lender’s Environmental and Social Advisor (LESA), K2 Management conducted technical due diligence, ensuring a comprehensive understanding of the construction, performance, and safety of the project — but also managed the necessary considerations of the local communities and habitats with respect to Taiwanese regulations.
Daniel Faith, Senior Consultant at K2M, said: "We’re pleased to have been selected as both the LTA and LESA for Hai Long. As well as being able to work on a ground-breaking project for Taiwan, we worked closely with lenders and ECAs to ensure that risks and opportunities related to the technical performance were recognised and accounted for. We will now continue to provide a comprehensive level of value to the project and lenders throughout its construction and operational phases.”
Scott Hsu, Country Director – Taiwan & Philippines at K2M, added: "The Hai Long offshore wind farm represents a significant step in Taiwan's offshore wind journey, and we’re honoured to be part of it. Our team is dedicated to ensuring Hai Long’s significant achievement, and after our official subsidiary opening in Taiwan this year, we’re closer than ever to our clients and the communities the projects we’re working on will ultimately serve. We are looking to expand our LTA and LESA services into new APAC markets, including Korea and Japan, but also other projects in Taiwan itself — and as we venture into those opportunities, we hope that our work on Hai Long is a testament to the quality of our advisory services.”
Frank Spee, ECPI Director for Hai Long, said: “K2M’s technical insights have been an important asset to us throughout the development phase, and will continue to inform the project trajectory as it progresses through construction and operation. As well as solidifying investor confidence in the Project’s ability to succeed and ultimately having led to this financial close, K2M’s work has benefited the Taiwanese Offshore Wind Industry through supporting such a landmark project.”
K2M acted as Lender’s Technical Advisor and Lender’s Environmental and Social Advisor on landmark offshore wind project in Taiwan Strait.
