Latest news with #ThomasWibePoulsen
Yahoo
12-05-2025
- Business
- Yahoo
CIP to sell 10% stake in Taiwan's Fengmiao I offshore wind farm to MOL
Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure V (CI V), has reached an agreement to sell a 10% stake in the 495MW Fengmiao I offshore wind farm in Taiwan to Mitsui O.S.K. Lines (MOL). The Fengmiao I offshore wind project, situated off the coast of Taichung County, achieved financial close in March 2025. The construction of the project is under way, with an anticipated completion date by the end of 2027. The project is financed through a mix of equity and senior loans supported by international and Taiwanese banks, export credit agencies and Taiwan's National Credit Guarantee Administration. Initiated in 2020, Fengmiao I is CIP's third offshore wind venture in Taiwan. The project secured site exclusivity and grid allocation in Taiwan's Round 3.1 auction in December 2022. Upon completion, Fengmiao I will provide clean energy to six major local and international energy consumers in Taiwan, which have committed to long-term power purchase agreements for the wind farm's full capacity. CIP partner and head of Asia-Pacific Thomas Wibe Poulsen said: '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.' MOL, a Japanese shipping giant operating around 900 vessels globally, has joined as a co-owner alongside CIP's fifth flagship fund, CI V. The fund focuses on investments in the energy transition, including wind, solar PV, and battery storage in low-risk OECD countries across Europe, North America, and Asia Pacific. CI V has already committed 60% of its capital to six final investment decisions (FIDs), demonstrating swift capital deployment and early value creation within the fund's lifespan. The transaction is currently pending customary closing conditions, including filing for Foreign Investment Approval and filings with the Ministry of Economic Affairs in Taiwan. Post-transaction, CI V will maintain its position as the controlling shareholder and operator of Fengmiao I. BNP Paribas served as the financial advisor, while White & Case provided legal counsel to CIP for this transaction. "CIP to sell 10% stake in Taiwan's Fengmiao I offshore wind farm to MOL" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
09-05-2025
- Business
- Yahoo
MOL expands renewable energy portfolio with 10% stake in CI Fengmiao
Tokyo-based Mitsui O.S.K. Lines (MOL) has entered into an agreement to acquire a 10% stake in CI Fengmiao, a move that marks its growing involvement in the offshore wind power sector. Copenhagen Infrastructure Partners (CIP) is developing the Feng Miao offshore wind farm in Taiwan through CI Fengmiao, which holds 100% of shares in the project. This strategic investment is expected to provide MOL with valuable insights from the construction phase of the wind power project. Located approximately 35km off the coast of Taichung County, Taiwan, the Feng Miao I offshore wind farm will boast a generating capacity of 495MW. This output is sufficient to power around 650,000 households, making a significant contribution to Taiwan's energy needs. The project will be equipped with 33 bottom fixed Vestas-15MW turbine units. The investment by MOL is projected to be around Y25bn ($172.6m), underlining the company's commitment to renewable energy. CIP partner and head of Asia-Pacific Thomas Wibe Poulsen said: '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.' Construction of the wind farm commenced in March 2025, simultaneously with the final investment decision, and is expected to be completed by the end of 2027. Fengmiao I's funding structure includes a mix of equity investments and senior debt provided by a group of 27 global and local Taiwanese banks and financial entities, with partial backing from four export credit agencies, along with guarantees from Taiwan's National Credit Guarantee Administration. The generated green energy will supply a consortium of six major local and international energy consumers in Taiwan, including Google and United Microelectronics Corporation, under long-term power purchase agreements. MOL's involvement in the Feng Miao I project follows its previous investment in the Formosa I offshore wind farm, reinforcing its strategy to expand its renewable energy business. The company plans to dispatch personnel to oversee the project from the construction phase and will also provide vessel support for construction and maintenance operations. "MOL expands renewable energy portfolio with 10% stake in CI Fengmiao" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
09-05-2025
- Business
- Yahoo
MOL expands renewable energy portfolio with 10% stake in CI Fengmiao
Tokyo-based Mitsui O.S.K. Lines (MOL) has entered into an agreement to acquire a 10% stake in CI Fengmiao, a move that marks its growing involvement in the offshore wind power sector. Copenhagen Infrastructure Partners (CIP) is developing the Feng Miao offshore wind farm in Taiwan through CI Fengmiao, which holds 100% of shares in the project. This strategic investment is expected to provide MOL with valuable insights from the construction phase of the wind power project. Located approximately 35km off the coast of Taichung County, Taiwan, the Feng Miao I offshore wind farm will boast a generating capacity of 495MW. This output is sufficient to power around 650,000 households, making a significant contribution to Taiwan's energy needs. The project will be equipped with 33 bottom fixed Vestas-15MW turbine units. The investment by MOL is projected to be around Y25bn ($172.6m), underlining the company's commitment to renewable energy. CIP partner and head of Asia-Pacific Thomas Wibe Poulsen said: '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.' Construction of the wind farm commenced in March 2025, simultaneously with the final investment decision, and is expected to be completed by the end of 2027. Fengmiao I's funding structure includes a mix of equity investments and senior debt provided by a group of 27 global and local Taiwanese banks and financial entities, with partial backing from four export credit agencies, along with guarantees from Taiwan's National Credit Guarantee Administration. The generated green energy will supply a consortium of six major local and international energy consumers in Taiwan, including Google and United Microelectronics Corporation, under long-term power purchase agreements. MOL's involvement in the Feng Miao I project follows its previous investment in the Formosa I offshore wind farm, reinforcing its strategy to expand its renewable energy business. The company plans to dispatch personnel to oversee the project from the construction phase and will also provide vessel support for construction and maintenance operations. "MOL expands renewable energy portfolio with 10% stake in CI Fengmiao" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
