Tokyo-based Mitsui O.S.K. Lines (MOL) has done such, having purchased a 10% stake in the CI Fengmiao I offshore wind project. This acquisition more than doubles MOL’s existing renewable energy portfolio. The agreement puts MOL in a prominent co-investor position among other international players in key venture to improve Taiwan’s energy landscape.
Fengmiao I located approximately 35 kilometers (22 miles) offshore from Taichung County, Taiwan. It features a remarkable generating capacity of 495 megawatts (MW). This new capacity will provide power to an estimated 650,000 homes. Construction of the multimodal project started in March 2025 and is expected to be finished by late 2027.
Fengmiao I’s funding structure utilizes a unique combination of equity investments and senior debt. This impressive fiscal muscle is provided by a syndicate of 27 international as well as local Taiwanese banks and financial institutions. What makes the funding even more strategic is that it has partial support from four export credit agencies and guarantees from Taiwan’s National Credit Guarantee Administration.
Greenlink will be supported by 33 bottom-fixed Vestas 15MW turbine units. These wind turbines will produce renewable power for a collaborative of 6 large local and multinational energy users, including tech powerhouse Google and semiconductor manufacturer United Microelectronics Corporation. The energy will all be delivered through long-term power purchase agreements, providing financial certainty to the developers and the ratepayers in Georgia – the people who will buy the electricity.
Thomas Wibe Poulsen, CIP partner and head of Asia-Pacific, shared his excitement on MOL’s participation in the project.
“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.” – Thomas Wibe Poulsen, CIP partner and head of Asia-Pacific.
The strategic investment by MOL reflects a growing commitment to renewable energy initiatives and aligns with global trends towards sustainable energy solutions. As the project progresses, stakeholders on both sides will be watching its progress closely. They are particularly interested in how it can be applied to reform Taiwan’s energy sector.