Copenhagen Infrastructure Partners Secures Landmark $3.1 Billion Financing for Taiwan Offshore Wind Project
Deal News | Mar 20, 2025 | Orrick
Copenhagen Infrastructure Partners (CIP) has successfully secured approximately NT$103 billion (US$3.1 billion) in financing for the development of the 495MW Fengmiao 1 offshore windfarm in Taiwan. This landmark project signifies a historic achievement as the first truly zero subsidy offshore windfarm in Asia, fully financed through corporate power purchase agreements (CPPAs). Orrick's advisory role for a consortium of export credit agencies and over 20 international and local commercial banks, hedge providers, and other financiers was crucial to reaching financial closure within a rapid timeframe. This pioneering project boosts Taiwan's renewable energy landscape and signifies a shift in how large-scale offshore wind projects can be financed. The Fengmiao 1 windfarm, located off Taichung County's west coast, is set to become operational by 2028, promising substantial advancements in renewable energy infrastructure.
Sectors
- Renewable Energy
- Financial Services
Geography
- Taiwan – The location of the Fengmiao 1 offshore windfarm and a key area of focus for renewable energy development highlighted in the article.
- International – Involvement of international banks and the global advisory firm Orrick indicates the international nature of the financing.
Industry
- Renewable Energy – The article is centered around a major development in the renewable energy sector with the financing of an offshore wind project in Taiwan.
- Financial Services – The transaction involves complex financial arrangements including export credit agencies, commercial banks, and hedge providers.
Financials
- NT$103 billion (US$3.1 billion) – Total financing amount secured for the development of the Fengmiao 1 offshore windfarm.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Copenhagen Infrastructure Partners (CIP) | Project Developer | Company | An investment company focused on renewable energy infrastructures, leading the Fengmiao 1 project development. |
| Orrick | Legal Advisor | Company | A global law firm that advised the financing syndicate composed of export credit agencies and commercial banks. |
| Export Credit Agencies | Lenders | Company | Part of the financing syndicate for the Fengmiao 1 project. |
| Commercial Banks | Lenders | Company | Over 20 international and local banks involved in the financing syndicate. |
| Copenhagen Offshore Partners (COP) | Construction Leader | Company | Responsible for leading the construction phase of the Fengmiao 1 offshore windfarm. |
| United Microelectronics Corporation | Offtaker | Company | One of the companies entering into a CPPA with the project company. |
| Sino-American Silicon Products Inc. | Offtaker | Company | One of the companies entering into a CPPA with the project company. |
| Far EasTone Telecommunications Co., Ltd. | Offtaker | Company | One of the companies entering into a CPPA with the project company. |
| MediaTek | Offtaker | Company | One of the companies entering into a CPPA with the project company. |