Copenhagen Infrastructure Partners has agreed to sell a 25 percent stake in the 595-megawatt Changfang and Xidao (CFXD) offshore wind farm in Thailand to Global Power Synergy Public Company. Financial terms were not disclosed.
The deal was made on behalf of the Copenhagen Infrastructure II and Copenhagen Infrastructure III funds, which will continue as joint majority owners in the project and lead the construction phase toward commercial operations in 2024.
Global Power Synergy Public Company (GPSC) will acquire the stake through its wholly-owned subsidiary, Global Renewable Synergy Company (GRSC). GPSC operates as a subsidiary and power flagship of PTT Public Company, the largest energy company in Thailand.
CIP acquired the wind farm in 2017. The project obtained grid allocation in 2018 and entered into a 20-year power-purchase agreement with Taiwan Power Company in 2019. CIP said CFXD is financed through a combination of equity and senior loans from a consorti
