Copenhagen Infrastructure Partners (CIP) has entered into an agreement to sell a ten percent stake in the 495 MW offshore wind farm Fengmiao I to Japanese shipping company Mitsui O.S.K. Lines (MOL). CIP did not disclose the value of the transaction.
The wind farm, which is CIP's third offshore project in Taiwan, is located off Taichung County. The project was developed from 2020 and secured exclusive rights and grid connection through Taiwan's bidding round 3.1 in December 2022. After financial close in March 2025, construction began. When Fengmiao I is completed by the end of 2027, it will supply power to six major energy consumers in Taiwan under long-term power purchase agreements.
The financing of the project is composed of equity and loans from a consortium of 27 banks and institutions, as well as guarantees from four export credit agencies and Taiwan's national guarantee scheme. MOL, which operates approximately 900 vessels globally, will become a co-owner together with CIP’s fund Copenhagen Infrastructure V (CI V), which will remain the majority shareholder and operator.
- We are pleased to welcome MOL as a co-investor in Fengmiao – and I am confident that together we will bring a project of the highest standard to commercial operation. The deal recognizes the value that CIP has created in the development phase, as well as CIP’s strong track record in offshore wind in Taiwan, says Thomas Wibe Poulsen, Partner and Head of Asia-Pacific at CIP.
The transaction is pending approvals from the Taiwanese authorities.
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