Copenhagen Infrastructure Partners (CIP) has, through its fund Copenhagen Infrastructure V (CI V), achieved financial close on Fengmiao I, a 495 MW offshore wind project off Taichung, Taiwan. CIP announced this in a press release.
Fengmiao I, which will be CIP's third offshore wind project in Taiwan, secured exclusive rights to its site and 500 MW of grid capacity in Taiwan's Round 3.1 auction in December 2022. The project is the first in Taiwan's third bidding round to reach financial close and is now entering construction. Vestas will deliver 33 of its latest 15 MW turbines to the wind farm.
- The financial close of Fengmiao I marks an important milestone for CIP and is the result of many years of hard work and dedication from the project team, suppliers, contractors, banks, ECAs and buyers. Fengmiao I is the first offshore wind project in Taiwan to be supported by a portfolio of corporate customers and will provide much-needed clean energy to large energy consumers in Taiwan. This sets a new standard for Taiwan’s rapidly maturing offshore wind market under the government’s Energy Transition 2.0 policy, said Thomas Wibe Poulsen, Partner and Head of Asia-Pacific at CIP.
The project has secured financing of approximately NT$103 billion (USD 3.1 billion) from 27 international and Taiwanese banks. Part of the project financing is guaranteed by four export credit agencies (ECAs) as well as Taiwan’s National Credit Guarantee Administration. The wind farm is expected to be completed by the end of 2027.
CIP’s fifth flagship fund, CI V, completed its capital raising in March 2025, exceeding its target of EUR 12 billion. The fund invests in energy transitions within wind, solar and battery storage in low-risk countries in Europe, North America and the Asia-Pacific region.
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