Copenhagen Infrastructure Partners (CIP), through its CI V fund, has reached financial close for the 495 MW Fengmiao I offshore wind project off the coast of Taichung, Taiwan. The project marks CIP’s third offshore wind development in the country, following the successful construction of the 600 MW Changfang & Xidao and 300 MW Zhong Neng projects.
Set for completion by late 2027, Fengmiao I has secured long-term power purchase agreements with six major local and international corporations, making it Taiwan’s first offshore wind project backed by a corporate offtaker portfolio.
BNP Paribas and CTBC Bank acted as joint financial advisors for the project financing. White & Case and Baker McKenzie advised Fengmiao I on financing, while Accura provided legal counsel on supply contracts. Orrick and Lee & Li served as legal advisors to the ECAs and project finance banks.
Thomas Wibe Poulsen, Partner and Head of Asia-Pacific at CIP, highlighted the achievement as a key milestone, recognizing the contributions of the project team, suppliers, contractors, financial institutions, and offtakers. He emphasized the project’s role in delivering clean energy to Taiwan’s large energy consumers, reinforcing the country’s renewable energy transition.
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