Greater Changhua Offshore Wind Farms

Three, as you mentioned, phase one, mostly demonstration with small-scale projects with big subsidies.

Phase two, we're talking about projects like Greater Changhua, also came with 20-year fixed subsidies.

So Phase three has been not so simple.

This is where the government has phased out subsidies and we've moved on to corporate power purchasing agreements, which has made things a struggle, as we can see from the results of the latest tenders.