Denmark’s investment fund EIFO have committed to €150 million (DKK 1.119 billion) project financing guarantee for Taiwan’s Fengmiao 1 Offshore Wind Farm.
Managed by Copenhagen Infrastructure Partners (CIP), the 495MW offshore wind farm will feature 33 Vestas V236-15MW turbines, with Semo Maritime focusing on the project’s offshore substation.
EIFO’s Role in Global Offshore Wind
According to EIFO, the fund has played a role in financing over 30% of the world’s installed offshore wind capacity, excluding China. The recent support for Fengmiao 1 comes shortly after EIFO's DKK 1 billion (approximately €134 million) backing for Ørsted’s Greater Changhua 4 offshore wind project in Taiwan.
Peter Boeskov, EIFO's Chief Commercial Officer, said “This financing agreement aligns very well with EIFO’s strategy to support effective green energy projects and strengthen Danish exports. We are very pleased to once again contribute to financing a wind farm in Taiwan, where Danish players such as Vestas and Semco Maritime play a key role.”
Financial Backing
CIP has secured approximately NTD 103 billion (US$3.1 billion) in total project financing from a consortium of 27 international and Taiwanese banks. Additionally, it has entered into power purchase agreements with six major Taiwanese corporations committed to procuring electricity from the wind farm.
The construction of Fengmiao 1 is slated for completion by the end of 2027.
If you are looking for new offshore wind opportunities in Taiwan, please get in touch with our APAC team here.
