Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure V (CI V), has signed an agreement to sell a 10 per cent stake in the 495 MW Fengmiao I offshore wind project in Taiwan to Mitsui O.S.K. Lines (MOL). The project, located off the coast of Taichung County, is slated for completion by the end of 2027.
The project began development in 2020 and secured site exclusivity and grid allocation under Taiwan’s Round 3.1 auction in December 2022. Construction commenced following financial close in March 2025, and work remains on track for scheduled completion.
The project is backed by a blend of equity and senior loans arranged through a consortium of 27 global and Taiwanese banks and financial institutions. The financing structure is further supported by guarantees from four export credit agencies and Taiwan’s National Credit Guarantee Administration.
Following the completion of the transaction, subject to customary closing conditions and regulatory approvals, including foreign investment clearance and filings with Taiwan’s Ministry of Economic Affairs—CI V will retain its position as the controlling shareholder and operator of Fengmiao I. BNP Paribas served as financial advisor, while White & Case acted as legal advisor to CIP on the sale.
