MOL buys stake in Taiwanese offshore wind farm
Mitsui OSK Lines Acquires Stake in Taiwan Wind Farm
Copenhagen Infrastructure Partners (CIP), a Danish fund manager, has finalized a deal to sell a 10% stake in the 495MW Fengmiao I offshore wind farm in Taiwan to Japanese shipping giant Mitsui OSK Lines (MOL). This strategic partnership marks MOL’s entry as a co-owner alongside CIP’s fifth flagship fund, CI V. The Fengmiao I project, which is situated off the coast of Taichung County, is set to play a significant role in Taiwan’s renewable energy landscape.
Fengmiao I: A Key Renewable Energy Project
The Fengmiao I offshore wind farm is CIP’s third venture in Taiwan, with development commencing in 2020. The project secured site exclusivity and grid allocation during Taiwan’s Round 3.1 auction held in December 2022. Following a successful financial close in March 2025, construction of the wind farm began and is expected to be completed by the end of 2027.
Financing for the project is robust, involving a mix of equity and senior loans from a consortium of 27 international and Taiwanese banks and financial institutions. This financing is partially backed by four export credit agencies and Taiwan’s National Credit Guarantee Administration, ensuring a solid financial foundation for the project.
Once operational, Fengmiao I will supply energy to a consortium of six major local and international energy consumers in Taiwan. These entities have entered into long-term power purchase agreements, committing to buy the entire output of the wind farm. This initiative not only underscores Taiwan’s commitment to renewable energy but also enhances its energy security and sustainability efforts.
