Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure V (CI V), has reached financial close on the 495 MW Fengmiao I offshore wind…
Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure V (CI V), has reached financial close on the 495 MW Fengmiao I offshore wind project off the coast of Taichung in Taiwan.
Fengmiao I project has secured an approximately $3.1 billion project financing from 27 international and Taiwanese banks.
A portion of the project finance debt will be guaranteed by four export credit agencies (ECAs) and Taiwan’s National Credit Guarantee Administration. Fengmiao I is scheduled to complete construction by the end of 2027 and a group of six large local and international corporates have entered into long-term power purchase agreements with Fengmiao I for its entire capacity.
Fengmiao I is CIP’s third offshore wind project in Taiwan, following the successful construction of Changfang and Xidao, and Zhongneng.
In December 2022, Fengmiao I secured site exclusivity and 500 MW grid capacity in Taiwan’s Round 3.1 auction and is the first of Taiwan's Round 3 projects to reach financial close and the first to start construction.
Fengmiao I will be constructed by a group of international and local suppliers, all with
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