Eksfin provides 1 billion NOK in financing of Norwegian exports to the Greater Changhua Offshore Wind Farms in Taiwan

The Danish company Ørsted, one of the world’s leading offshore wind developers, has purchased installation and technology services from Norwegian companies Solstad Offshore, Fred. Olsen Windcarrier, Framo, and Glamox for the Greater Changhua Offshore Wind Farms project in Taiwan. The services have already been delivered to the project. Eksfin provides NOK 1 billion in financing for the project based on the Norwegian export deliveries.

Norwegian suppliers strengthen their position in international offshore wind markets

International offshore wind farms represent the most important market for Norwegian offshore supplier companies undergoing transition. To ensure competitiveness and long-term growth, Norwegian companies need strong partnerships with global offshore wind developers like Ørsted.

The construction of offshore wind farms requires significant investment. That is why Eksfin offers loans and guarantees to international developers, on the condition that they choose Norwegian suppliers for their projects.

Eksfin is participating in the financing of Ørsted’s project based on offshore wind vessel services for the Greater Changhua Offshore Wind Farms from Solstad Offshore  and Fred. Olsen Windcarrier, pump technology from Framo, and lighting for foundations supplied by Glamox.

CEO of Eksfin, Tone Lunde Bakker, emphasises the significance of Norwegian export deliveries to the project:

“Advanced offshore wind vessels and technology services delivered from Norway to international offshore wind farms represent a major export success. In addition, we are pleased to see that Norwegian technology suppliers like Framo and Glamox have established a firm foothold in the international offshore wind market.

Not only does this project improve access to renewable energy in Taiwan, but it also secures significant contracts for Norwegian industry,” Lunde Bakker emphasises.

International co-operation on financing

The Greater Changhua Offshore Wind Farms project is being financed through an international banking syndicate. Eksfin participates in the project financing alongside several international banks and other countries’ export credit agencies, including Denmark’s EIFO, UK Export Finance, Korea Eximbank, and Taiwan Exim.

Read the press release about Ørsted’s financing here.

Twenty-year power purchase agreements have been signed with Taipower and TSMC for the delivery of clean energy from Greater Changhua.

Strong export growth in offshore wind

Norwegian suppliers to offshore wind experienced an export increase of nearly 70 per cent in 2024 compared to the previous year. This makes offshore wind the industry with the highest percentage growth among the government’s prioritised export initiatives, according to the 2025 Export Report.

There remains significant potential for Norwegian suppliers in the expanding global offshore wind market, where expertise from Norway’s offshore oil and gas sector can be applied to offshore renewable energy production.

——————————————————————————————