Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure V (CI V), has reached financial close on the 495MW Fengmiao I offshore wind project off the coast of Taichung, Taiwan.
In December 2022, Fengmiao I secured site exclusivity and 500MW grid capacity in Taiwan’s Round 3.1 auction. The project will be built by a group of international and local suppliers, with Vestas supplying 33 units of its latest 15MW turbine. Fengmiao I has secured project financing of approximately NTD 103 billion (USD 3.1 billion) from 27 international and Taiwanese banks. A portion of the debt will be guaranteed by four export credit agencies and Taiwan’s National Credit Guarantee Administration. Construction is scheduled for completion by the end of 2027. Six large local and international companies have signed long-term power purchase agreements for the entire project capacity. Fengmiao I is CIP’s third offshore wind project in Taiwan, following Changfang & Xidao and Zhongneng.
