Copenhagen Infrastructure Partners inaugurates the Changfang-Xidao
offshore wind farms in Taiwan
At a ceremony in Taipei, Taiwan, CIP today officially celebrated
that it has completed construction of the Changfang-Xidao offshore
wind project. With a total capacity of nearly 600 MW, the two
offshore wind farms increase Taiwan’s combined offshore capacity by
approximately 25% and contribute significantly to its energy
transition and ambitious net-zero goals.
Changfang-Xidao has one of the highest degrees of localisation,
i.e. use of local suppliers and vendors, in the history of Taiwan’s
offshore wind industry. The wind farms are located 11 km off the
west coast of Taiwan and consist of 62 Vestas V174 turbines and
jacket foundations supplied by Taiwan’s Century Wind Power. When
fully operational, Changfang-Xidao will generate enough renewable
energy to power around 650,000 local households and will deliver an
annual expected CO2 reduction of 1.1 million tons.
Changfang-Xidao are CIP’s first offshore wind farms in Asia
Pacific, which has developed into a key offshore market. CIP has a
significant portfolio of 21 GW offshore wind in the Asia Pacific
and is among the frontrunners in the build-out of offshore wind in
Korea and Australia, as well as Taiwan.
Christina Grumstrup Sørensen, Senior Partner at CIP, says: “The
inauguration of Changfang-Xidao is a landmark for CIP as well as
for the offshore wind industry in Taiwan. In the past seven years,
the development and construction team, suppliers, partners and
shareholders have demonstrated the power of close collaboration.
Together we have successfully constructed a project that makes a
meaningful contribution to Taiwan’s energy transition and that
plays a significant role in the establishment of the local offshore
wind industry – and will support Taiwan’s long-term offshore wind
ambitions.”
Mads Skovgaard Andersen, Partner at CIP, commented: “I would
like to thank and congratulate the construction team and our supply
chain partners on reaching this important milestone. Your stamina,
dedication, and problem-solving skills have been instrumental for
the success of Changfang-Xidao and have enabled the construction of
a project that stands out as a testimony to the professionalism of
the offshore supply chain here in Taiwan.”
Changfang-Xidao is majority owned by CIP’s Flagship funds CI II
and CI III. Thailand-based Global Power Synergy Public Company
(GPSC) and two Taiwanese life insurance companies, Taiwan Life and
Transglobe Life, each own minority stakes. The project was
constructed by a highly experienced team led by Copenhagen Offshore
Partners, CIP’s exclusive offshore wind development partner, and
the local Copenhagen Infrastructure Service Company, the global
service provider to CIP.
Since entering Taiwan in 2017, CIP has been committed to
offshore wind in the country and has invested significantly in
developing Taiwan’s offshore wind projects, supply networks and
fostering a strong industry ecosystem. CIP and other partners
currently have three offshore wind projects in Taiwan with a
combined capacity of approximately 1,400 MW: Changfang-Xidao
(600MW), Zhongneng (300MW), and Fengmiao (500MW). Zhongneng is
owned by CI IV and China Steel Corporation and is under
construction with commercial operations expected in 2025. Fengmiao
is owned by CI V and is targeting a final investment decision by
the end of 2024 and commercial operations in 2027.
With a target size of EUR 12 billion, CIP’s fifth flagship fund,
CI V, is set to become the largest of its kind globally. The fund
aims to invest in a range of technologies from wind and solar PV to
energy storage across Europe, North America, and Asia Pacific. A
third of the projected projects in CI V are expected to be
developed in Asia Pacific.
CI V is off to a strong start with a large and diversified
portfolio of renewable energy infrastructure projects in the
development stage. It has potential equity commitments of EUR 22
billion and 70% of the target fund size for CI V is expected
committed by the end of 2024. The fund is expected to have made six
financial investment decisions by the end of 2024, including on the
Fengmiao offshore wind project in Taiwan.
About Copenhagen Infrastructure PartnersFounded
in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the
world’s largest dedicated fund manager within greenfield renewable
energy investments and a global leader in offshore wind. The funds
managed by CIP focus on investments in offshore and onshore wind,
solar PV, biomass and energy-from-waste, transmission and
distribution, reserve capacity, storage, advanced bioenergy, and
Power-to-X.
CIP manages 12 funds and has to date raised approximately EUR 28
billion for investments in energy and associated infrastructure
from more than 160 international institutional investors. CIP has
approximately 500 employees and 12 offices around the world. For
more information, visit www.cip.com
For further information, please contact:
E-mail: media@cip.com
Simon Mehl Augustesen, Chief Communication OfficerPhone: +45
3052 6721Email: siau@cip.com
Thomas Kønig, Partner – Investor RelationsPhone: +45 7070
5151Email: tkon@cip.com
Legal disclaimerThis release does not
constitute an offer to sell or the solicitation of an offer to
purchase any security. Any investment involves substantial risks
including complete loss of capital. There can be no assurance that
CIP will be able to implement the strategy described herein or, if
implemented, that it will lead to successful results. Similarly,
there can be no assurance that CIP will be able to maintain the
advantages discussed herein over time or outperform third parties
or the financial markets generally.
Certain information contained herein constitutes
“forward-looking statements,” which can be identified by the use of
terms such as “may,” “will,” “expects,” “intends,” “plans,”
“believes,” “estimates” or comparable terminology. Forward-looking
statements are subject to a number of known and unknown risks and
uncertainties, including without limitation changes in economic
conditions, political changes, legal and regulatory requirements,
interest rate fluctuations, as well as changes in markets,
prospects and competition. There can be no assurance that
historical trends will continue. Some of the views expressed herein
are the opinions of CIP and should not be construed as absolute
statements and are subject to change without notice.