Thankfully, Copenhagen Infrastructure Partners (CIP) has other, more optimistic news to share. They’re currently selling a 10% stake in the Fengmiao I offshore wind project to Mitsui O.S.K. Lines (MOL). This smart strategic maneuver helps propel the project, found just offshore of Taichung County, Taiwan. The team’s overall goal is full completion by the end of 2027.
The Fengmiao I offshore wind project reaching financial close in March 2025 was a big feat along its development path. When complete, this project will provide green power to six large energy users across Taiwan. These large consumers, both domestic and export-oriented, have all signed on to long-term power purchase agreements for the entire capacity of the project.
Financing for the Fengmiao I O&M project includes a mix of equity and senior loans. These senior loans are backed by a consortium of international and Taiwanese banks, export credit agencies, and Taiwan’s National Credit Guarantee Administration. This powerful support gives their loans considerable stability and muscle. The project successfully secured site exclusivity and subsequent grid allocation in Taiwan’s Round 3.1 auction held in December of 2022. This accomplishment made its stronghold in the industry even more concrete.
CIP has allocated 60% of its capital to the six final investment decisions (FIDs) for Fengmiao I. This historic investment shows their commitment towards the positive and fruitful development of this landmark offshore wind project. With construction now underway, the project is anticipated to help create more of the renewable energy Taiwan needs, while playing an important role in Taiwan’s energy transition.
CIP partner and head of Asia-Pacific Thomas Wibe Poulsen said he was excited about MOL’s participation joining the project. He stated,
“We are delighted to welcome MOL as co-investor in Fengmiao – and I am confident that we together will bring a project of the highest standards to commercial operation. The transaction recognises the value created by CIP during the development phase as well as CIP’s strong offshore wind track record in Taiwan.”
This project will be CIP’s third offshore wind investment in Taiwan. It’s a testament to their deep commitment to expanding renewable energy infrastructure throughout the entire region. Since its launch in 2020, Fengmiao I has seen tremendous success. Today, it’s become one of the leading forces behind Taiwan’s clean energy agenda.
