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UPDATE 1-Germany's EnBW expands to Taiwan in renewable expansion push

Published 12/02/2018, 07:36 pm
Updated 12/02/2018, 07:40 pm
UPDATE 1-Germany's EnBW expands to Taiwan in renewable expansion push
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* EnBW takes 37.5 pct in each project

* Enters partnership with Macquarie, Swancor

* EnBW to spend 5 bln eur on renewables by 2025 (Adds details on partnership, Taiwan offshore market)

FRANKFURT, Feb 12 (Reuters) - German utility EnBW EBKG.DE on Monday said it took stakes in three offshore wind projects in Taiwan with a volume of about 2 gigawatt, marking the first such investment outside Europe in the group's renewables expansion.

EnBW said it acquired 37.5 percent in each of the three projects, adding it had therefore entered a partnership with energy infrastructure investor Macquarie MQG.AX and Taiwan-based chemicals and composite material maker Swancor 3708.TW .

No financial details were disclosed. EnBW, Germany's fifth-largest listed energy group, has said that it plans to invest more than 5 billion euros ($6.13 billion) to expand its renewables business by 2025.

"In moving into project development in Taiwan, we have opened the latest chapter in our offshore wind activities," Dirk Guesewell, head of generation portfolio development at EnBW, said in a statement.

"The expertise that we have built up in the offshore wind sector in the last few years is in demand worldwide, and we want to export it."

EnBW rivals including Danish offshore wind market leader Orsted ORSTED.CO have already expanded into Taiwan, which expects the local offshore wind market to grow to $4 billion in 2025. ($1 = 0.8153 euros) ($1 = 29.3090 Taiwan dollars)

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