Collaboration between EIFO and CIP initiates for a novel wind energy project in Taiwan
Fengmiao I Offshore Wind Farm Project Moves Forward with International Collaboration
The Fengmiao I offshore wind farm project, located off the coast of Taichung, Taiwan, is set to become a significant player in the country's renewable energy sector. With a capacity of 495 MW, the project is poised to make a substantial contribution to Taiwan's renewable energy goals.
Copenhagen Infrastructure Partners (CIP) is the key financing partner for the project, investing approximately $3 billion through its fund Copenhagen Infrastructure V (CI V), which reached financial close on the project. This marks CIP's third offshore wind project in Taiwan.
The project highlights the growing collaboration between international players and Taiwan's offshore wind industry. Semco Maritime, a Danish company, is proud to contribute to the Fengmiao I project and deepen partnerships with EIFO, CIP, and Vestas. Semco Maritime will contribute to the offshore substation through a joint venture for the Fengmiao I wind farm.
Vestas APAC president Purvin Patel stated that the project underscores how collaboration with EIFO is accelerating the global energy transition. While the specific turbine supplier for Fengmiao I is not explicitly detailed, the engagement of well-known installation and operation contractors like DEME and Van Oord suggests a mature, large-scale project consistent with Taiwan’s offshore wind ambitions.
The financing package for the Fengmiao I wind farm is NTD 103 billion (DKK 21.2bn) and is backed by 27 international and Taiwanese banks. EIFO, Denmark's Export and Investment Fund, is providing a €150 million (DKK 1.1bn) project financing guarantee for the new offshore wind farm. EIFO has financed more than 30 percent of the world's installed offshore wind capacity outside China.
The deal between key Danish players and Taiwan's offshore wind industry is further strengthened. EIFO's chief commercial officer, Peter Boeskov, stated that the financing aligns with the agency's strategy to support green energy and boost Danish exports. Boeskov provides more information on this topic in a podcast titled "Podcast NZI with Atharva: Peter Boeskov on opportunities in wind."
CIP has signed power purchase agreements with six major Taiwanese companies for the electricity generated by Fengmiao I. The project is another step forward in Taiwan's commitment to a sustainable energy future, with the operations supported by a 15-year service operations vessel (SOV) contract with Dong Fang Offshore.
In summary, the Fengmiao I offshore wind farm project is a significant collaboration between international players and Taiwan's offshore wind industry. With a capacity of 495 MW, the project is poised to make a substantial contribution to Taiwan's renewable energy goals, supported by a robust financing package and strong local partnerships.
| Aspect | Details | |---------------------|-----------------------------------------------------| | Capacity | 495 MW | | Location | Offshore Taichung, Taiwan | | Financing Partner | Copenhagen Infrastructure Partners (CI V fund) | | Installed Capital | Approx. $3 billion | | Installation Partners| DEME (with CDWE JV), Van Ord | | Operations Support | 15-year SOV contract with Dong Fang Offshore | | Turbine Supplier | Not explicitly detailed, but engagement of well-known installation and operation contractors suggests a mature, large-scale project | | Financing Guarantee | EIFO providing €150 million (DKK 1.1bn) project financing guarantee |
Semco Maritime, a Danish company, is thrilled to join the Fengmiao I offshore wind farm project and strengthen relationships with EIFO, CIP, and Vestas, contributing to the offshore substation through a joint venture for the wind farm.The collaboration between international players and Taiwan's offshore wind industry is further solidified with the involvement of EIFO, Denmark's Export and Investment Fund, offering a €150 million (DKK 1.1bn) project financing guarantee for the new offshore wind farm, a testament to their commitment to supporting green energy and boosting Danish exports.
