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Copenhagen Infrastructure Partners sells 10% stake in Fengmiao I wind farm to Mitsui O.S.K.

Copenhagen Infrastructure Partners’ CI V fund has signed an agreement to divest 10% of its offshore wind project Fengmiao I to Mitsui O.S.K. Lines, with commissioning expected by the end of 2027.

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Danish asset manager Copenhagen Infrastructure Partners (CIP) announced it has signed an agreement to divest a 10% stake in the offshore wind farm Fengmiao I to Mitsui O.S.K. Lines (MOL), a Japanese company active in maritime transport and energy infrastructure. The transaction is carried out on behalf of the Copenhagen Infrastructure V (CI V) fund, which retains majority control of the project.

Fengmiao I, CIP’s third project in Taiwan

Located off the coast of Taichung County, Fengmiao I is CIP’s third offshore wind project in Taiwan. Development began in 2020 and the project secured site exclusivity and grid allocation during Taiwan’s Round 3.1 auction in December 2022. Financial close was reached in March 2025, enabling construction to begin, with completion scheduled for the end of 2027.

The project is financed through a structure combining equity and senior loans provided by a consortium of 27 Taiwanese and international banks and financial institutions. The financing is partially backed by four export credit agencies and Taiwan’s National Credit Guarantee Administration.

Mitsui O.S.K. Lines joins as shareholder

With this acquisition, MOL becomes co-owner of the Fengmiao I project alongside CI V. Active in marine energy sectors, MOL operates a fleet of approximately 900 vessels worldwide. The project is set to supply six major energy consumers in Taiwan through long-term power purchase agreements that cover the full installed capacity.

Thomas Wibe Poulsen, Partner and Head of Asia-Pacific at CIP, stated: “We are pleased to welcome MOL as a co-investor in Fengmiao – and confident that we will jointly deliver a project of the highest operational standards.”

Deal subject to regulatory approvals

The transaction remains subject to several conditions, including Foreign Investment Approval and filings with Taiwan’s Ministry of Economic Affairs. CIP, through CI V, will retain its role as the primary operator of the site once the transaction closes.

CI V aims to finance energy transition projects in low-risk member countries of the Organisation for Economic Co-operation and Development (OECD). To date, six final investment decisions have been made, accounting for 60% of the fund’s committed capital.

BNP Paribas acted as financial advisor to CIP, while law firm White & Case served as legal advisor on the deal.

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