TIDMORSTED 
 
 
   Today, Ørsted and Taiwan-based TSMC have signed a corporate power 
purchase agreement (CPPA). TSMC will offtake the full production from 
Ørsted's 920MW Greater Changhua 2b & 4 offshore wind farm, making 
it the largest-ever contract of its kind within renewable energy. The 
20-year fixed-price contract period starts once Greater Changhua 2b & 4 
reaches commercial operations in 2025/2026, subject to grid availability 
and Ørsted's final investment decision. 
 
   TSMC, the world's largest semiconductor foundry, is also a world-leader 
in green manufacturing. With this CPPA, TSMC once again demonstrates its 
long-term commitment to environmental sustainability. 
 
   J.K. Lin, Senior Vice President of Information Technology and Materials 
Management & Risk Management at TSMC, says: "TSMC is happy for this 
opportunity to collaborate with Ørsted and not only expand the 
adoption of renewable energy, but also to work towards Taiwan's energy 
transition to build world-class industrial environment. As a corporate 
citizen, TSMC is taking 'green action' to carry out our responsibility 
to environmental protection." 
 
   Under the agreement with TSMC, the Greater Changhua 2b & 4 offshore wind 
farm will receive a price for power including T-RECs (Taiwan renewable 
energy certificate) during the 20-year contract period that is higher 
than the feed-in-tariff which was originally secured via the outcome of 
Taiwan's first offshore wind 
https://www.globenewswire.com/Tracker?data=Jz1kyDwC4QOPt0oaXyT4Xy9-SVYI0Wn5AzfIVr3ITp_0cPph3C9Ablm4xtnb4XBpkQvbI78oOTHtIIrDESXwfQig2d0xjA2Q8FXPv4NSij73OAzTMhpIgkLqRHPnoRArj4msoPx3WmWlmGQ1amHh7_4s6qFqZpTDMCyg2tr2HnTXn2AcYoex7uaK3fXx566v 
auction in June 2018 
https://www.globenewswire.com/Tracker?data=bY4UuTdjl8mPkOOVQNKJBJ9H_LLv9XFhRBPnagF-GhI6f6vfYqZtfnXI6-akhb4YSoYhJIzxt2ub1uvkXjnwyWUtu3woQTipuoV-l9ePbZl62ud9CM9-4an65PnaS1SdiFhHjXCnKUC8eCM9ItCBnA== 
. This improves the project's financial viability and helps Ørsted 
mature Greater Changhua 2b & 4 towards a final investment decision. 
 
   Martin Neubert, Executive Vice President and CEO of Ørsted Offshore, 
says: "We commend TSMC for their leadership in renewable energy sourcing 
and for taking tangible action to deliver on their ambitious greenhouse 
gas reduction targets. By sourcing renewable energy at an unprecedented 
scale, TSMC demonstrates strong support for the development of renewable 
energy. Signing the largest-ever corporate PPA with the world's leading 
semiconductor company shows that Ørsted is a trusted renewable 
energy partner for corporates and governments." 
 
   Matthias Bausenwein, President of Ørsted Asia-Pacific, says: "The 
agreement between Ørsted and TSMC signed today underlines 
Ørsted's pioneering role in the development of renewable energy in 
the Asia Pacific. In Taiwan, we are already constructing the Greater 
Changhua 1 & 2a offshore wind farm. Combined with our Greater Changhua 
2b & 4 project, which is now one step closer to a final investment 
decision, we are making offshore wind a cornerstone in Taiwan's 
transition from fossil-based to renewable energy." 
 
   The information provided in this announcement does not change 
Ørsted's previous financial guidance for the financial year of 2020 
or the announced expected investment level for 2020. 
 
   About Greater Changhua 2b & 4 
 
   Greater Changhua 2b & 4 will be Ørsted's third offshore wind farm 
in Taiwan, subject to final investment decision which Ørsted 
expects to take in 2023. The wind farm will have a capacity of 920MW and 
will be located in the Taiwan Strait approx. 50 km off the coast of 
Changhua County. 
 
   Taipower, Taiwan's transmission system operator, will be building new 
transmission grid to accommodate for Taiwan's buildout of offshore wind. 
With the current grid construction timeline, Taipower is expected to 
provide Greater Changhua 2b & 4 with grid access in late 2025. 
Ørsted expects to generate the first power from Greater Changhua 2b 
& 4 shortly thereafter and to fully commission the wind farm in 2026. 
 
   Greater Changhua 2b & 4 will be located adjacent to the 900MW Greater 
Changhua 1 & 2a offshore wind farm which Ørsted is currently 
constructing. Ørsted is also the co-owner of Taiwan's first 
commercial-scale offshore wind farm, Formosa 1, which was extended to 
its current capacity of 128MW in October 2019. 
 
   For further information please contact: 
 
 
 
   Ørsted Group Media Relations 
 
   Tom Lehn-Christiansen 
 
   +45 99 55 60 17 
 
   tomlc@orsted.dk 
 
   Ørsted Investor Relations 
 
   Allan Bødskov Andersen 
 
   +45 99 55 79 96 
 
   alban@orsted.dk 
 
   About Ørsted 
 
   Ørsted's vision is to create a world that runs entirely on green 
energy. Ørsted develops, constructs, and operates offshore and 
onshore wind farms, solar farms, energy storage facilities, and 
bioenergy plants, and provides energy products to its customers. 
Ørsted ranks #1 in Corporate Knights' 2020 index of the Global 100 
most sustainable corporations in the world and is recognised on the CDP 
Climate Change A List as a global leader on climate action. 
Headquartered in Denmark, Ørsted employs 6,600 people. 
Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2019, 
the company generated revenue of DKK 67.8 billion (EUR 9.1 billion). For 
more information on Ørsted, visit orsted.com or follow us on 
Facebook, LinkedIn, Instagram and Twitter. 
 
   Attachment 
 
 
   -- 2b & 4 
      https://ml-eu.globenewswire.com/Resource/Download/bb142ffd-0d4c-465b-a924-d075f1a3da8d