Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels,  2.10.2019  
C(2019 ) 7194 final  
PUBLIC VERSION  
To the notifying parties  
Subject : Case M. 9535  – JERA / MACQUARIE / SWANCOR / FORMOSA 2  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 6 September 2019 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which JERA Formosa 
2 B.V (“JERA”, The Netherlands ), controlled by JERA Co., Inc.,  Macquarie 
Corporate Holdings Pty Limited (“Macquarie”, Australia ), and Swancor Renewable 
Energy Co., Ltd. (“Swancor”, Taiwan),  acquire within the meaning of Article 3(1)(b) 
and 3(4 ) of the Merger Regulation  joint control of the whole of  Formosa 2 
International Investment Co., Ltd  (“Formosa 2 ”).3 
2. The business activities of the undertakings concerned are:  
 for JERA: JERA is a special purpose vehicle, controlled by JERA Co., Inc. 
JERA Co., Inc. is jointly owned by two Japanese utility companies, TEPCO 
Fuel & Power, Inc., which is a 100% subsidiary of Tokyo Electric Power 
Company Holdings, Inc., and Chubu Electric Power Co., Inc.,  
 
 for Macquarie: diverse range of businesses, including in vesting in a wide range 
of sectors including resources and commodities, energy, financial institutions, 
infrastructure and real estate,  
 
 for Swancor: Taiwan -based developer and operator of offshore wind farms, 
providing engineering, procurement, permitting , asset management and 
operation and maintenance services across offshore wind farms in Taiwan,  
 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p . 3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 314, 18.9.2019 , p. 11. 

2  for Formosa 2: construction and operation of the Formosa 2 offshore windfarm 
located off the coast of Miaoli County, in North -West Taiwan.  
3. After examination of  the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5 (a) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement . This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Cecilio MADERO VILLAREJO  
Acting Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .