Copenhagen Infrastructure Partners (CIP) has locked in the financing for a 589-megawatt offshore wind project off the coast of Changhua County, Taiwan.
The Changfang and Xidao project will be financed through a combination of equity and senior loans from a consortium of 25 international and Taiwan banks and financial institutions, as well as six export credit agencies, according to CIP. The total project financing raised from the banks and financial institutions amounts to approximately $3 billion.
The Changfang and Xidao project is owned by CI II and CI III, with a minority stake taken up by Taiwan Life Insurance and TransGlobe Life Insurance.
The project has brought on international and local contractors under eight different construction agreements, including New Power Partners, PeakWind, Lautec, Wood Thilsted Partners, Bech Bruun, C2Wind and JUM BO Consulting Group.
The Changfang and Xidao project will localize the jacket foundation, pin piles, onshor