Ørsted and TSMC signed a corporate power purchase agreement (CPPA) on Wednesday that is the largest-ever contract of its kind within the renewable energy field.
Ørsted is a Danish company that offers state-of-the-art, smart green energy solutions to its wholesale, business, and residential customers. Taiwan’s TSMC is the world’s largest semiconductor foundry and a world-leader in green manufacturing.
TSMC will offtake full production from Ørsted’s 920MW Greater Changhua 2b & 4 offshore wind farm. The 20-year fixed-price contract period starts once Greater Changhua 2b & 4 reaches commercial operations in 2025-2026.
Matthias Bausenwein, President of Ørsted Asia-Pacific, said, “The agreement between Ørsted and TSMC underlines Ørsted’s pioneering role in the development of renewable energy in the Asia-Pacific. In Taiwan, we are already constructing the Greater Changhua 1 & 2a offshore wind farm. Combined with our Greater Changhua 2b & 4 project, which is now one step closer to a final investment decision, we are making offshore wind a cornerstone in Taiwan's transition from fossil-based to renewable energy.”