Copenhagen Infrastructure Partners (CIP) has announced that a power purchase agreement (PPA) has been signed for output from the 500MW Fengmiao 1 offshore wind farm off Taiwan.
The PPA is with United Microelectronics Corporation (UMC), which will purchase more than 30 billion kilowatt-hours of power from Fengmiao 1 over least 30 years, marking the largest renewable energy transaction in UMC’s history.
This agreement will help UMC achieve its goal of 50% renewable energy use by 2030 as part of the company’s roadmap to net zero emissions and 100% renewable energy by 2050.
“This agreement demonstrates our commitment to sustainable development to our stakeholders, and also contributes to UMC’s carbon reduction goals and ESG vision,” said TS Wu, UMC vice president.
“The decision of a global semiconductor leader like UMC to partner with Fengmiao I underscores the market’s high confidence in CIP’s technical and financial capability to deliver offshore wind projects,” said Thomas Wibe Poulsen, APAC regional partner for CIP’s Flagship Funds and chairman of Fengmiao Offshore Wind Farm.
Last month CIP signed a PPA with Sino American Silicon Products (SAS) and its renewable energy subsidiary Sustainable Energy Solution (SES) for output from Fengmiao I.
The project is located 35 km off the coast of Taichung City and will feature 33 wind turbines.
It is expected to be operational by the end of 2027.