Synera Renewable Energy

What Synera Renewable Energy does

Synera Renewable Energy (SRE), formerly Swancor Renewable Energy, is a Taipei-headquartered offshore wind developer and operator that has been active in Taiwan's offshore wind sector since 2012 and operates as a portfolio company of Stonepeak Partners (approximately USD 88 billion AUM). The company has delivered two of Taiwan's three operational offshore wind farms — Formosa 1 (128MW, 7.5% stake) and Formosa 2 (376MW, 51% majority stake acquired May 2025) — and is developing Formosa 4 (495MW, establishment permit secured late 2024), Formosa 5 (up to 1,536MW floating), Formosa 6 (800MW, awarded August 2024), and Formosa 7, alongside regional pipelines in Japan (2GW), South Korea (840MW), the Philippines, Vietnam, and Australia, totaling 6+GW.

SRE's technology stack covers the full lifecycle of offshore wind: site development, jacket and monopile foundations, semi-submersible floating platforms (Formosa 5), and operation/maintenance supported by SCADA systems and cybersecurity infrastructure. Construction is delivered through contracted Tier-1 marine contractors including CDWE (using Taiwan-flagged vessel Green Jade), Cadeler (35 Siemens Gamesa 14MW turbines), Jan De Nul (60km of export cables), and Century Wind Power (local jacket foundations).

Revenue is generated through (i) operating stakes in wind farms with long-term PPAs and CPPAs (15-20 years) with utilities like Taiwan Power Company and corporate aggregators like Taiwan Smart Electricity & Energy, (ii) project development services earning fees and equity carried interests, and (iii) growing corporate offtake via CPPAs serving Taiwan's export-oriented industries — notably semiconductors, electronics, and manufacturing — that need large-scale clean energy to meet Scope 2 and decarbonization targets.

Name

Synera Renewable Energy

Legal name

Synera Renewable Energy Co., Ltd.

Website

https://sreglobal.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

Synera Renewable Energy is a Taiwan-based offshore wind developer and operator, backed by Stonepeak, with a 6+GW APAC pipeline. It develops, constructs, and operates fixed-bottom and floating offshore wind farms, selling power through long-term utility PPAs and corporate CPPAs to Taiwan's export-oriented industries.

Ownership category

akta.pro rank

Product category

Offshore Wind Energy Development

NAICS

Wind Electric Power Generation (221115)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Contracted Wind Power Generation (PPA/CFD/FiT-backed) (EUACAFAJ)

akta.pro secondary industries

Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD), Renewable Energy Asset Management (Solar/Wind/Hydro/Geothermal) (EUAEAMAB)

Keywords

• Offshore wind development
• Renewable energy generation
• Wind farm operations
• Corporate power purchase
• Floating offshore wind

Headquarters

HQ city

Taipei

HQ country

Taiwan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Offshore Wind Farm Operations: SRE generates revenue through ownership stakes in operational offshore wind farms (Formosa 1: 7.5% stake, Formosa 2: majority 51% ownership post May 2025) and long-term power generation sales.
2. Corporate Power Purchase Agreements (CPPAs): SRE signs long-term CPPAs with corporate offtakers like TSEE, providing fixed portions of wind farm generation for resale to companies seeking decarbonization solutions. Revenue secured through 15-20 year contractual agreements.
3. Project Development Services: SRE develops offshore wind projects from concept through construction and operations, earning development fees and maintaining equity stakes in projects.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Synera Renewable Energy (SRE) is an offshore wind farm developer and operator that develops, finances, constructs, and operates utility-scale offshore wind power projects across Asia-Pacific. The company sells the generated electricity through long-term Corporate Power Purchase Agreements (CPPAs) with corporate offtakers and Power Purchase Agreements (PPAs) with state-owned utilities, while maintaining equity ownership stakes in the wind farm assets.

Product overview

Synera Renewable Energy (風睿能源) is an offshore wind developer offering a portfolio of wind farm products across the project lifecycle: operational farms (Formosa 1 at 128MW, Formosa 2 at 376MW), development-stage projects (Formosa 4 at 495MW, Formosa 6 at 800MW), and early-stage projects (Formosa 5 floating at 1.5+GW, Formosa 7). The company also has development pipelines in Japan (2GW) and South Korea (840MW). SRE provides end-to-end services including development, construction, operation, and maintenance of offshore wind assets, supported by parent company Stonepeak Partners with approximately $88 billion in assets under management.

Differentiator

Problem solved

Functional benefit

Products and services

• Formosa 1 Offshore Wind Farm Taiwan's first commercial-scale offshore wind farm, developed in two phases (2 demonstration turbines in 2016; 20 turbines in 2018-2019) with a total installed capacity of 128MW. SRE holds a 7.5% stake and provides operation and maintenance services.
• Formosa 2 Offshore Wind Farm Large-scale offshore wind farm with 376MW installed capacity, located off the coast of Miaoli County, Taiwan, featuring 47 jacket foundations. SRE increased its shareholding to 51% majority ownership in May 2025. Power sold under a 20-year PPA with Taiwan Power Company.
• Formosa 4 Offshore Wind Farm 495MW offshore wind project off Miaoli County, Taiwan, and the first offshore wind project developed entirely by a local team in Taiwan since commercialization. Expected to generate approximately 2 billion kWh annually, powering roughly 500,000 households. Output is fully subscribed through long-term CPPAs with corporate offtakers including TSEE.
• Formosa 5 Floating Offshore Wind Farm Taiwan's first floating offshore wind project, located 20km off the Miaoli County coast in 65-80m water depth, with a maximum potential capacity of 1,536MW. Plans to use semi-submersible floating platforms designed to withstand typhoons and earthquakes.
• Formosa 6 Offshore Wind Farm Taiwan's single largest offshore wind farm by capacity, located 35km off the Changhua County coast with 800MW of awarded development capacity, featuring 57 jacket foundations across an 84km² area in 31-46m water depth.
• Formosa 7 Offshore Wind Farm Offshore wind project currently in progress in Taiwan, part of SRE's expanding pipeline of development projects.

Quantifiable outcome

• 97% WTG availability achieved by SRE projects
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and major.

• CSBC-DEME Wind Engineering (CDWE)coreImplementation/ SI/ Consulting PartnerCDWE contracted for transportation and installation of turbine foundations, offshore substation, and scour protection works for Formosa 4. Their flagship vessel Green Jade serves as primary construction vessel.
• CadelercoreImplementation/ SI/ Consulting PartnerCadeler signed firm contract for transportation and installation of 35 Siemens Gamesa 14MW wind turbines at Formosa 4. Operations scheduled for March 2028 with approximately 150 days duration. Contract value USD 82-94 million.
• Jan De NulcoreImplementation/ SI/ Consulting PartnerBelgian marine engineering company contracted to install 60 kilometers of export cables for Formosa 4. Also preferred contractor for export cables on upcoming Formosa 6 project.
• Century Wind PowercoreImplementation/ SI/ Consulting PartnerTaiwanese supplier awarded contract to supply 35 jacket foundations for Formosa 4. Holds full coordination responsibility for foundation package, exceeding Taiwan's local content requirements.
• DFOcoreImplementation/ SI/ Consulting PartnerDFO contracted to provide Service Operation Vessel (SOV) for Formosa 4. 15-year contract involves constructing Taiwan-flagged vessel designed to European standards.
• Taiwan Smart Electricity & Energy (TSEE)coreStrategic or Co-development PartnerLong-term CPPA partner for Formosa 4. TSEE will receive fixed portion of generation for resale to corporate offtakers seeking decarbonization solutions.
• Seaway7majorImplementation/ SI/ Consulting PartnerMarine engineering firm contracted for transportation and installation works alongside CDWE for Formosa 4 project.
• Taiwan Power CompanycoreStrategic or Co-development Partner20-year PPA signed with Formosa 2 for grid connection. Taiwan's state-owned utility purchasing power from operational wind farms.
• Siemens GamesacoreTechnology or IntegrationSiemens Gamesa turbines equipped for Formosa 4 wind farm (35 turbines of 14MW capacity each). Technology provider for wind turbine supply.

Scale indicators9 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Ørsted: Global offshore wind market leader headquartered in Denmark, with operating capacity exceeding 8GW and a large development pipeline across Europe, the US, and Asia-Pacific including Taiwan. Comparable to SRE as a vertically integrated offshore wind developer pursuing utility-scale farm development under long-term PPAs.
• Engie: French multinational utility with a growing offshore wind portfolio globally, including in Asia-Pacific. Comparable to SRE in developing utility-scale offshore wind projects and securing long-term corporate and utility off-take agreements.
• EDF Renewables: Subsidiary of EDF Group operating globally in offshore wind development with a presence in Taiwan and other Asian markets. Comparable to SRE in terms of offshore wind project development and long-term PPA-based revenue structures.
• Iberdrola (Avangrid / ScottishPower Renewables): Global renewable energy major with offshore wind operations through its subsidiaries in Europe and the US, and growing Asia-Pacific ambitions. Comparable to SRE in offshore wind development model and PPA-based long-term revenue structures.
• RWE Renewables: Major European utility with a sizable offshore wind development portfolio and active operations in Asia-Pacific. Comparable to SRE as a global offshore wind developer competing for the same Taiwan auction capacity and pursuing similar large-scale project finance structures.
• EnBW: German utility with significant offshore wind development operations in Europe and Asia-Pacific expansion ambitions. Comparable to SRE in developing offshore wind farms under long-term PPAs and pursuing similar utility-scale capacity auctions in Asia.

Others

• Vestas: Global leader in wind turbine manufacturing, competing with Siemens Gamesa (SRE's chosen supplier for Formosa 4). Relevant as a comparable adjacent ecosystem participant in offshore wind supply and indirectly as a competitor for SRE's turbine procurement cost structure.

Direct peers

• Copenhagen Infrastructure Partners (CIP): PE-backed renewable energy fund manager that develops offshore wind projects through dedicated funds, including significant Asia-Pacific exposure (Taiwan, Korea, Japan). Directly comparable to SRE because CIP combines institutional capital with offshore wind development expertise and pursues long-term contracted revenues in similar markets.
• Northland Power: Canadian independent power producer with offshore wind operating assets in Europe and active Asia-Pacific development pipeline including Taiwan. Comparable to SRE as a non-utility developer focused on offshore wind farm ownership with long-term contracted revenues.

Emerging players

• wpd: Germany-based renewable energy developer with offshore wind projects in development across Asia including Taiwan. Comparable to SRE as a privately held offshore wind specialist pursuing similar markets and capacity auctions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/SyneraRenewableEnergy
• LinkedInlinkedin.com/company/synerarenewableenergy
• Instagraminstagram.com/sre_taiwan

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Synera Renewable Energy