Danish Fund Manager CIP Sells 10% Stake in Fengmiao I Offshore Wind Farm to MOL
Danish fund manager Copenhagen Infrastructure Partners (CIP) has agreed to divest a 10% stake in the 495MW Fengmiao I offshore wind farm in Taiwan to Japanese shipowner Mitsui OSK Lines (MOL).
As part of the acquisition, MOL will become a co-owner of Fengmiao I alongside CIP’s fifth flagship fund, CI V.
Fengmiao I, CIP’s third offshore wind project in Taiwan, is situated off the coast of Taichung County. The development of Fengmiao I commenced in 2020, with site exclusivity and grid allocation secured in Taiwan’s Round 3.1 auction in December 2022.
Following financial close in March 2025, construction of Fengmiao I began, and the offshore wind farm is expected to be completed by the end of 2027.
The project’s financing includes a mix of equity and senior loans from a consortium of 27 international and Taiwanese banks and financial institutions, with partial guarantees from four export credit agencies and Taiwan’s National Credit Guarantee Administration.
Once operational, Fengmiao I will supply energy to a group of six large local and international energy users in Taiwan under long-term power purchase agreements covering the entire capacity of the wind farm.