Formosa 6 offshore wind CPPA cements Star Trade’s stake across two SRE projects

Synera Renewable Energy Group‘s Formosa 6 offshore wind CPPA with Star Trade gives the buyer a contracted share of more than 10% of the combined capacity across two projects, after a parallel agreement for the 495MW Formosa 4 was signed in late 2025.

The Formosa 6 project carries an 800MW capacity and was awarded in the second auction round of Taiwan’s Phase 3 Zonal Development in 2024. It sits approximately 35 kilometres off the coast of Xianxi Township, Changhua County, covering around 84 square kilometres, and is SRE’s first offshore wind project in central Taiwan. Once operational, it is expected to generate enough clean electricity to power approximately 860,000 households annually.

What the Star Trade deal actually means for Formosa 6 offshore wind CPPA volume

SRE has not disclosed the exact megawatt volume tied to the Formosa 6 agreement, saying only that Star Trade has now contracted more than 10% of the two projects’ combined capacity. With Formosa 4 at 495MW and Formosa 6 at 800MW, the combined figure sits at 1,295MW, which places Star Trade’s contracted volume above 129MW in aggregate across the pair. Whether that exposure is evenly split or weighted toward one project is not stated.

The corporate power purchase agreement (CPPA) structure is doing the heavy lifting here for SRE’s revenue stack. SRE chairperson Lucas Lin noted that ‘Formosa 4’s capacity [was] fully subscribed late last year’, framing the Formosa 6 CPPA as evidence of ‘robust corporate demand for long-term green electricity supply and the growing role of offshore wind in meeting that demand.’ That is the developer’s characterisation; the underlying bankability of long-dated CPPAs in Taiwan’s evolving corporate energy market will ultimately depend on offtaker credit quality and grid connection timelines, neither of which SRE has commented on publicly.

Formosa 4 provides the context: geography, depth and household coverage

The Formosa 4 project, which anchors the Star Trade relationship, is located off the coast of Tongxiao Township, Miaoli County, in waters 57 to 64 metres deep, according to Formosa 4 Wind Power. That depth profile is at the outer edge of conventional fixed-bottom turbine deployment and points to the engineering complexity SRE is managing across its Taiwan portfolio.

When complete and in commercial operation, Formosa 4’s 495MW installed capacity is expected to meet the energy needs of approximately 500,000 households, Formosa 4 Wind Power states. Set alongside Formosa 6’s projected 860,000-household output, the two projects together represent a substantial slice of Taiwan’s offshore wind ambition, targeting a combined annual supply equivalent to around 1.36 million homes.

Formosa 4’s grid connection plan involves a 500MW offshore substation and a 500MW onshore substation, both expected to connect to Taiwan Power Company’s Fangli substation, according to Formosa 4 Wind Power. Formosa 6’s grid arrangements have not been detailed publicly at this stage.

Where Formosa 6 sits in SRE’s Taiwan pipeline

Formosa 6 is SRE’s fourth offshore wind project in Taiwan and its first in the central region. The Changhua County coastline has become a focal point for Taiwan’s Phase 3 offshore expansion under the framework administered by Taiwan’s Bureau of Energy, with multiple developers competing for zonal allocations.

For Star Trade, extending its contracted position from Formosa 4 into Formosa 6 signals a deliberate strategy of aggregating green electricity volume across projects rather than relying on a single offtake. Whether that approach satisfies any underlying Scope 2 or renewable energy certificate obligation has not been disclosed. The CPPA terms, including duration, pricing structure and delivery date, remain undisclosed.

Lucas Lin said SRE aims to ‘help more businesses in Taiwan access the green electricity they need while supporting the country’s energy transition.’ With Formosa 4 fully subscribed and a CPPA now in place for Formosa 6, the immediate commercial question is how quickly the remaining Formosa 6 capacity finds offtakers ahead of the project’s construction and financing milestones.