Currently under construction and set to begin operations by the end of 2021, the Formosa 2 wind farm will generate enough electricity to power 380,000 households per year. Global Risk Dialogue takes a look at the ambitious project – part of Taiwan’s new renewable energy grid that will expand energy capacity almost seven-fold.
The Formosa 2 Offshore Wind Project involves the development, construction, commissioning, ownership, operation and maintenance of an approximate 378MW (megawatt) wind-generating facility and related infrastructure located off the northwestern coast of Taiwan in the straits which separate Taiwan and China, near Chunan Town, Miaoli County – encompassing 68.81km2 (26.57mi2). Construction began in January 2020 and is scheduled to go-live by the end of December 2021.
The facility will be a part of Taiwan’s grander zonal development program being implemented by the Taiwan Government, which aims to add 5.5GW of wind power to its energy mix by 2025, representing a significant 694% increase of the current capacity of 692MW. Formosa 2’s predecessor, Formosa 1, which consists of 22 offshore wind turbines with a total capacity of 128MW, is part of the project and began construction in 2018. Planning for the Formosa 3 field will follow in the near future. “Sustainable sources of renewable energy like offshore windfarms are critical to reducing carbon emissions in the face of global warming,” says Zhen Yi Choy, Senior Engineering Risk Engineer at AGCS.
Formosa 2 by the numbers
- $2.05bn Project cost
- 2021 Estimated project completion date
- 3.8 km to 9.5km Minimum and maximum distances from shore
- 35m to 55m Minimum and maximum water depth
- 47 number of turbines in the farm
- 167m Rotor diameter (from center of gearbox to tip of turbine blade)
- 81.5m Turbine blade length
- 8MW Nominal power per turbine
- 1.4km Average length of 43 inter-array cables connecting each tower to neighboring towers to form an interconnected underwater grid
- 7.6km Average length of five export cables transporting power onshore
“Among the many things that can go wrong with offshore wind farms are high waves, earthquakes, typhoons and underwater currents. Weather can significantly impact the turbine blades, themselves, reducing performance, while underwater dynamics can threaten foundation stability,” says Zhen Yi.
Site investigations for both Formosa 1 and 2 examined the topography, geology and geotechnical conditions of the seabed from 2016 to 2018 to determine a model for engineers to select turbine and foundation types, design the towers and foundations, plan construction, evaluate safety measures, plan for operations and maintenance, assess energy yields and mitigate risks. The project also considered and made allowance for typhoon frequency and severity for the construction and operation planning.
At the time that construction began on the projects, the type of turbine used was considered to be a prototype. The lack of historical performance data meant that technical expertise was required on turbine performance to carry out risk assessment – requiring special expertise from AGCS’s Allianz Risk Consulting team in Hamburg. AGCS provides a coverage share in both projects, with construction all-risk (CAR), delay in start-up, the primary layer of third party liability coverages, terrorism and operational all risk cover, for first year of operations.
Download Global Risk Dialogue Winter/Spring 2020
This article is part of the our Global Risk Dialogue. Appearing twice a year, Global Risk Dialogue is the Allianz Global Corporate & Specialty magazine with news and expert insights from the world of corporate risk.
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