{"id":154388,"date":"2025-03-19T08:32:47","date_gmt":"2025-03-19T07:32:47","guid":{"rendered":"https:\/\/efecomunica.efe.com\/?p=154388"},"modified":"2025-03-19T10:13:22","modified_gmt":"2025-03-19T09:13:22","slug":"copenhagen-infrastructure-partners-reaches-financial-close-on-fengmiao-i-offshore-wind-farm","status":"publish","type":"post","link":"https:\/\/efecomunica.efe.com\/en\/copenhagen-infrastructure-partners-reaches-financial-close-on-fengmiao-i-offshore-wind-farm\/","title":{"rendered":"Copenhagen Infrastructure Partners reaches financial close on Fengmiao I offshore wind farm"},"content":{"rendered":"

Statement issued by the company (Announcement)<\/p>\n

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.<\/h3>\n
\n

Fengmiao I is CIP\u2019s third offshore wind project in Taiwan, following the successful construction of Changfang &Xidao and Zhongneng.<\/p>\n

In December 2022, Fengmiao I<\/strong> secured site exclusivity and 500MW grid capacity in Taiwan\u2019s 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 track records from previous offshore wind projects in Taiwan. Vestas is the turbine supplier to CIP’s two existing projects and will also supply 33 units of its latest 15MW turbine to Fengmiao I.<\/p>\n

Fengmiao I has secured an approximately NTD $ 103 billion (USD 3.1bn) project financing from 27 international and Taiwanese banks. A portion of the project finance debt will be guaranteed by four export credit agencies (ECAs<\/strong>) and Taiwan\u2019s 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.<\/p>\n

\u201cFinancial close on Fengmiao I marks a major milestone for CIP and is the culmination of years of hard work and dedication from the project team, suppliers, contractors, banks, ECAs and offtakers. Fengmiao I is the first offshore wind project in Taiwan to be supported by a portfolio of corporate offtakers and will deliver much-needed clean energy to large energy users in Taiwan. This sets a new benchmark for Taiwan’s rapidly maturing offshore wind market under the government\u2019s Energy Transition 2.0 policy,\u201d said Thomas Wibe Poulsen, Partner and Head of Asia-Pacific at CIP.<\/p>\n

Copenhagen Offshore Partners<\/strong> has been an integral part of the project organization through the successful development of Fengmiao I and will continue its involvement throughout the construction phase.<\/p>\n

CIP\u2019s fifth flagship fund, CI V, held final close in March 2025 and exceeded the target of EUR 12 billion. The fund aims to invest in the energy transition across a range of technologies, from wind and solar PV to battery storage, across low-risk OECD countries in Europe, North America and Asia Pacific. CI V has so far made six final investment decisions (FIDs) committing 60% of the fund, ensuring fast deployment of capital and significant value creation early in the fund lifetime.<\/p>\n

BNP Paribas and CTBC Bank acted as joint Financial Advisors for the project financing. White &Case and Baker McKenzie acted as Fengmiao I’s legal advisors on the financing, and Accura acted as Fengmiao I\u2019s legal advisor on the supply contracts. Orrick and Lee &Li acted as legal advisors to the ECAs and project finance banks.<\/p>\n

About Copenhagen Infrastructure Partners<\/h2>\n

Founded in 2012, Copenhagen Infrastructure Partners P\/S (CIP) today is the world\u2019s largest dedicated fund manager within greenfield energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.<\/p>\n

CIP manages 13 funds and has to date raised approximately EUR 32 billion for investments in energy and associated infrastructure from more than 180 international institutional investors. CIP has projects in more 30 countries and more than 2500 employees across platforms and projects globally. For more information, visit www.cip.com<\/a><\/p>\n<\/div>\n

\n
For further information, please contact:\r\n<\/strong>\r\nE-mail: media@cip.com\r\n\r\nOliver Routhe Skov, Head of Media Relations\r\nPhone: +45 30541227\r\nEmail: orsk@cip.com\r\n\r\nThomas K\u00f8nig, Global Head of Fundraising, Partner \u2013 Investor Relations\r\nPhone: +45 7070 5151\r\nEmail: tkon@cip.com<\/pre>\n<\/div>\n
AGENCIA EFE S.A.U.,S.M.E. shall not be liable for any information contained in this message and assumes no responsibility towards third parties in relation to its contents, being expressly exempt from any liability that the author may have in relation to the information in question. Agencia EFE reserves the right to distribute the press release on the news wire, or to publish it on EFE Comunica.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Statement issued by the company (Announcement) Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure V (CI V), has reached financial close on the 495MW Fengmiao I offshore wind project […]<\/p>\n","protected":false},"author":198164071,"featured_media":48434,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[121851],"tags":[],"class_list":["post-154388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nCopenhagen Partners reaches financial close on Fengmiao I<\/title>\n<meta name=\"description\" content=\"Copenhagen 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