Copenhagen Infrastructure Partners has agreed to divest a 10% stake in the 495MW Fengmiao 1 offshore wind farm in Taiwan to Mitsui OSK Lines (MOL).
Fengmiao 1 is CIP’s third offshore wind project in Taiwan and is located off the coast of Taichung County.
CIP has agreed to divest the 10% stake on behalf of its fifth flagship fund Copenhagen Infrastructure V (CI V).
Development of the wind farm commenced in 2020, and site exclusivity and grid allocation were secured in Taiwan’s Round 3.1 auction in December 2022.
Construction began following financial close in March 2025, and the offshore wind farm is on track for completion by the end of 2027.
Fengmiao 1 is financed through a combination of equity and senior loans from a consortium of 27 international and Taiwanese banks and financial institutions, partly guaranteed by four export credit agencies and Taiwan’s National Credit Guarantee Administration.
Once operational, the wind farm will deliver clean energy to a group of six large local and international energy users in Taiwan who have entered into long-term power purchase agreements with Fengmiao 1 for its entire capacity.
MOL is a Japanese shipping company that globally operates approximately 900 vessels and run social infrastructure businesses such as product transport business, dry bulk business, and energy and offshore business.
MOL enters Fengmiao 1 as co-owner alongside CI V.
“We are delighted to welcome MOL as co-investor in Fengmiao – and I am confident that we together will bring a project of the highest standards to commercial operation,” said Thomas Wibe Poulsen, partner and head of Asia-Pacific at CIP.
“The transaction recognises the value created by CIP during the development phase as well as CIP’s strong offshore wind track record in Taiwan.”
CIP’s CI V 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 committing 60% of the fund, ensuring fast deployment of capital and significant value creation early in the fund lifetime.
The transaction is subject to customary closing conditions.
BNP Paribas acted as financial advisor and White & Case acted as legal advisor to CIP on the transaction.