CIP Sells 10% Stake in Fengmiao I Offshore Wind Farm to MOL
May 9, 2025
Copenhagen Infrastructure Partners (CIP), on behalf of its fund Copenhagen Infrastructure V (CI V), has entered into an agreement to divest a 10% stake in the 495MW Fengmiao I offshore wind farm in Taiwan to Mitsui O.S.K. Lines (MOL).
The transaction, for which no further details were revelaed, is subject to customary closing conditions, filing for Foreign Investment Approval and filings with the Ministry of Economic Affairs, Taiwan R.O.C.
Following closing of the transaction, CI V will remain the controlling shareholder and operator of Fengmiao I.
Fengmiao I is CIP’s third offshore wind project in Taiwan and is located off the coast of Taichung County.
Construction of Fengmiao I was initiated following financial close in March 2025, and the offshore wind farm is on track for completion of construction by the end of 2027.
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Fengmiao I is financed through a combination of equity and senior loans from a consortium of 27 international and Taiwanese banks and financial institutions, partly guaranteed by four export credit agencies and Taiwan’s National Credit Guarantee Administration.
Once operational, the 495 MW offshore wind farm will deliver much-needed clean energy to a group of six large local and international energy users in Taiwan who have entered into long-term power purchase agreements with Fengmiao I for its entire capacity.
“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 recognizes the value created by CIP during the development phase as well as CIP’s strong offshore wind track record in Taiwan,” said Thomas Wibe Poulsen, Partner and Head of Asia-Pacific at CIP.
