CIP Finalizes Funding for Third Offshore Wind Project in Taiwan
COPENHAGEN (Reuters) - Clean energy fund manager Copenhagen Infrastructure Partners said on Wednesday it has reached financial close on its 495 megawatt (MW) Fengmiao I wind project, off the coast of Taichung, Taiwan.
"Fengmiao I is the first offshore wind project in Taiwan to be supported by a portfolio of corporate offtakers and will deliver much-needed clean energy to large energy users in Taiwan," CIP said in a statement.
Fengmiao I, CIP's third offshore wind project in Taiwan, will be constructed by international and local suppliers, all with track records in Taiwan, CIP said.
Danish wind turbine maker Vestas, which supplies turbines to CIP's two existing projects, will supply 33 units of its latest 15MW turbine to Fengmiao I, according to CIP.
CIP said its fifth flagship fund, CI V, held final close in March and exceeded its target of 12 billion euros ($13.08 billion).
The fund 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, committing 60% of the fund, CIP added.
($1 = 0.9172 euros)
(Reporting by Louise Breusch Rasmussen, editing by Kim Coghill)
