The Chinese language Economic Daily News (EDN) reported that Skyborn Renewable Energy’s 640MW Yunlin Offshore Wind Farm has turned to their financial backers for help after ballooning costs driven by project delays.
Citing an unnamed source close to the matter, the EDN report Yunneng Wind Power Co. Ltd, the project vehicle company of Yunlin OWF has asked the bank consortium backing them to take a haircut “of up to NTD$1 billion” or around 30 million Euros. Over 20 banks participated in the project including both local and foreign institutions and are now looking at taking damage. Previously, the stakeholders of Yunneng Wind Power has covered losses by raising capital from new investors, such as France’s Total...
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