Taiwan / DaTan Combined Cycle Power Plant Project for Units 8 and 9
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI, Chairman and CEO:Atsuo Kuroda) has decided to provide Export Credit Insurance for a project that will construct two units in the DaTan combined cycle power plant in Taiwan. The project was awarded by Taiwan Power Company to a consortium of Marubeni Corporation (“Marubeni”) and two U.S. companies: General Electric Company and General Electric International Inc. (“GE group”). NEXI will underwrite the insurance for a financing portion provided by Marubeni, of the total project cost worth approximately 130 billion yen.
This project will build additional two units of number 8 and 9 in the aforementioned power plant, located in Taiwan’s northwestern city Taoyuan. The full turn-key project covering design, procurement, engineering and installation work, and commissioning is scheduled to be completed in December 2022. The GE group will supply major equipment such as gas turbines, steam turbines, generators and waste heat recovery boilers, while Marubeni will procure related auxiliary machinery and undertake engineering and installation work for the entire station. The total output is expected to exceed 2,000 MW.
Given Taiwan’s rising electricity demand driven by economic growth and its reducing nuclear power station operations, securing alternative sources to nuclear energy is a pressing matter. In such circumstances, the project will contribute to the stable supply of electricity in Taiwan, as well as to global efforts to combat climate change by constructing a high-efficiency power plant with low environmental impact.
Moreover, this is a joint project by Japanese and U.S. companies, and is also in line with the approach of the Japanese and U.S. governments to realize the idea of “Free and Open Indo-Pacific Ocean.”
As Japan’s policy-based financial institution, NEXI will continue to actively support exports by Japanese companies.
| Insured | Marubeni Corporation |
| Tenor | 5 years |
| Covered Risks | Pre-shipment: political risk 80% and commercial risk 80% Post-shipment: political risk 97.5% and commercial risk 90% |
Contact: Overseas Investment Insurance Underwriting Group, Underwriting Department
Tel: +81-(0)3-3512-7668