SRE Increases Stake in Formosa 2 Offshore Wind Project　Boosting Confidence in the Offshore Wind Market

Synera Renewable Energy (SRE), a leading offshore wind developer in Asia, announced on May 13 the completion of its equity acquisition in Formosa 2 Offshore Wind Farm. Following the transaction, SRE has increased its stake from 25% to 51%, becoming the largest shareholder of the project. Amid global geopolitical and economic uncertainties, this move is highly significant: it not only reflects the company's continued confidence in the operational potential of the project and its firm commitment to Taiwan's green energy development, but also sends a clear signal to the offshore wind market. This action contributes to maintaining order and ensuring long-term stability in the local offshore wind industry.

Formosa 2 Offshore Wind Farm is the first project among Taiwan's Phase 2 offshore wind potential zones to reach commercial operation and connect to the grid. SRE has long been committed to promoting the sustainable development of Taiwan's offshore wind sector. As one of the original shareholders and developers of the project, SRE recognizes both the project's performance since commissioning and its broader socioeconomic value. The company also believes that all projects—whether in development, construction, or operation—deserve fair valuation. By exercising its Right of First Refusal (ROFR) to acquire an additional 26% stake, SRE demonstrates its belief that wind farms should be led by investors with long-term strategic vision rather than those seeking short-term returns. This also underscores the company's readiness to act when market prices deviate significantly, reinforcing its commitment to safeguarding the integrity and stability of Taiwan's offshore wind market.

SRE Chairman, Lucas Lin, stated: "Over the past twelve years, we have deeply cultivated the offshore wind sector and built a strong foundation, capabilities, and team in Taiwan. As Formosa 2 Offshore Wind Farm marks its second anniversary of commercial operation, the increased equity stake will enhance our ability to manage and optimize operational efficiency, ensure stable production of clean energy, and provide reliable support for export industries. This move also boosts confidence in the long-term healthy development of the overall market."

Synera Renewable Energy is backed by Stonepeak, a leading infrastructure investment firm headquartered in New York, managing US $72 billion in assets. With extensive experience in renewable energy, SRE holds equity in both the operational Formosa 1 and Formosa 2 offshore wind farms. It is also actively developing Formosa 4 and Formosa 6 projects, aiming to create economies of scale and operational synergy once all wind farms are commissioned and connected to the grid. At the same time, SRE is expanding into the Japanese and South Korean markets, steadily advancing its presence in the Asia-Pacific offshore wind sector and driving regional energy transition through prudent and sustainable operations.