The explanation for Yunneng Wind Power Co. Ltd.’s application of shareholding structure adjustments filed at the Ministry of Economic Affairs is as follows:


  1. Yunneng Wind Power Co., Ltd. is the project company for the Yunlin Wind Offshore Farm (WOF Yunlin). The manufacture of wind turbine-related equipment in this project has been completed. However, due to the global pandemic impact during the wind farm construction period, the project schedule was severely hampered. As a result, the project company incurs overrun costs and faces a significant funding gap. The company subsequently filed an application at the Ministry of Economic Affairs for the introduction of new shareholders and equity adjustments. This case is about the financial difficulties of the Yunneng (the project company), not the WPD Group’s financial situation. Other WPD Group development and operational activities in Taiwan continue normally, with no concern for bankruptcy.
  2. WPD’s shareholding accounted for 48%, Sojitz’s shareholding accounted for 27%, and EGCO’s shareholding accounted for 25% of the total prior to Yunneng’s application for equity adjustments. Sojitz was co-funded by several well-known Japanese enterprises led by Sojitz Corporation, including long-term energy investors Chugoku Electric Power Co., Chudenko Corporation, Shikoku Electric Power Co., Inc., and JXTG Eneos Holdings, Inc.; EGCO is a Thai powerhouse. WPD as a shareholder with 48% shareholding has substantially completed injecting funds based on its capital contribution obligations for this case, including emergency funds.
  3. As the OWF Yunlin’s original initiator and largest shareholder, the WPD has actively negotiated with banks to bring in funds from TotalEnergies Group in order to ensure the project’s successful completion, avoid bankruptcy, and protect the rights and interests of suppliers.


  1. TotalEnergies Group is the world’s fourth largest petroleum and natural gas company. It has sought energy transformation in recent years and has been actively involved in offshore wind power and other renewable energy developments. It currently supplies approximately 9% of Taiwan’s natural gas. The TotalEnergies Group becoming a new shareholder in this project will be more conducive to its successful completion.
  2. The Ministry of Economic Affairs (MOEA) approved the equity structure of this case, with the WPD accounting for 25% shareholding, Sojitz accounting for 27% shareholding, EGCO accounting for 25% shareholding, and TotalEnergies Group accounting for 23% shareholding. WPD, as the shareholder with a 25% stake in this case, will continue to invest funds in this project at a 25% rate. Furthermore, WPD will not profit from this equity transaction.
  3. WPD Taiwan is still one of the project’s largest shareholders. In addition to continuing to meet the shareholders’ investment contribution obligations, it will make every effort to ensure the wind farm’s progress. It will also continue to invest in Taiwan’s renewable energy development in the future.

[Illustration] The Yunneng OWF Yunlin’s tower and first wind transition piece (TP) were made by regional Taiwanese manufacturers and are located offshore from Yunlin. The smooth completion of the machine hoisting operations on April 23 was a significant turning point in Taiwan’s offshore and power industry localization.

[Illustration] Yunneng OWF Yunlin’s wind tower is kept at the Port of Taichung.

[Illustration] Yunneng OWF Yunlin is the first wind farm in Taiwan with local components. Jacket transition pieces (TPs) created by local manufacturers in Taiwan are temporarily kept at the Port of Kaohsiung, which is a remarkable sight.

[Illustration] Yunneng OWF Yunlin substations in Taihsi Township and Xihu Township, Yunlin, have been integrated into the Taipower grid system for trial operation.