Cathay Life and Cathay Power acquire 55% stake in Greater Changhua 2 Offshore Wind Farm

Cathay Life Insurance and Cathay Power's acquisition of a 55% stake in Ørsted's 632 MW Greater Changhua 2 Offshore Wind Farm for US$730 million represents a significant investment in Taiwan's renewable energy sector. The deal, expected to close in Q3 2026 upon full commercial operation, demonstrates the growing interest of institutional investors like Cathay Life in infrastructure assets, particularly in the burgeoning offshore wind market. Cathay Private Equity, affiliated with the buyers, focuses on long-term value creation through strategic partnerships, suggesting a commitment to the project's success. Ørsted, the seller, is a major player in the renewable energy space, and this transaction aligns with their broader strategy, which has included divesting other renewable energy assets. The transaction is notable for its size, the involvement of prominent players like Ørsted and Cathay Life, and its location in Taiwan, a market actively promoting offshore wind development. The deal underscores the increasing appetite for renewable energy assets among institutional investors seeking stable, long-term returns. The investment by Cathay Life and Cathay Power signals confidence in the Greater Changhua 2 project and Taiwan's regulatory environment for offshore wind. This acquisition is likely to encourage further investment in Taiwan's renewable energy infrastructure.