Copenhagen Infrastructure Partners divests 10% stake in Fengmiao I

Fengmiao I is CIP’s third offshore wind project in Taiwan and is located off the coast of Taichung County. Development of Fengmiao I commenced in 2020, and site exclusivity and grid allocation were secured in Taiwan’s Round 3.1 auction in December 2022.

Construction of Fengmiao I was initiated following financial close in March 2025, and the offshore wind farm is on track for completion of construction by the end of 2027. Fengmiao I 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, Fengmiao I will deliver much-needed 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 I 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 I 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. The transaction recognises the value created by CIP during the development phase as well as CIP’s strong offshore wind track record in Taiwan,” said Thomas Wibe Poulsen, Partner and Head of Asia-Pacific at CIP.

CIP’s fifth flagship fund, CI V, 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 (FIDs) 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, filing for foreign investment approval and filings with the Ministry of Economic Affairs, Taiwan R.O.C., and following closing of the transaction, CI V will remain the controlling shareholder and operator of Fengmiao I.

BNP Paribas acted as Financial Advisor and White & Case acted as Legal Advisor to CIP on the transaction.

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