A Taiwanese energy contractor building part of Taipower's second offshore wind farm is drowning in debt, which is bad news for its banks, its subcontractors, and the project's schedule.

• Forwin's subsidiary Fuwei Energy owes banks close to NT$22 billion after breaching its loan terms, and lenders are demanding repayment.
• Banks want to seize the money Taipower is holding back on the contract, but Taipower says it has no contract with the banks and cannot pay until the wind farm is finished and connected to the grid.
• Fuwei failed to pass earlier payments down to its contractors, so turbine maker Vestas lost confidence and cut ties, stalling installation work.
• Taipower stepped in this summer at Fuwei's own request and took over the turbine installation contracts to keep the project moving.
• Forwin has been delisted, and while buyers have circled Fuwei, none has resolved the money problem.

Outlook: Installation is likely to stay stuck until either a buyer rescues Fuwei or the banks and the company settle their fight over the withheld funds.