CIP sells stake in offshore wind farm to Taiwanese investors
Transactions - JANUARY 13, 2020

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CIP sells stake in offshore wind farm to Taiwanese investors

by Kali Persall

Copenhagen Infrastructure Partners (CIP) has sold a minority stake in offshore wind project Changfang and Xidao to Taiwanese insurance companies, Taiwan Life Insurance and TransGlobal Life.

The divestment was made through CIP’s CI-II and CI-III funds, which will retain majority ownership in the project. CI-II has 19 Danish and international institutional investors and CI-III has 42 institutional investors from the Nordics, Continental Europe, the United Kingdom, Israel, Asia, Australia and multilateral organizations.

The insurance companies will co-invest through a jointly established holding company.

“This transaction is a significant milestone as it is the first of its kind to enable local life insurance companies to make a direct investment in a Taiwanese offshore wind farm,” said Michael Hannibal, partner at CIP.

Located 13-15 kilometers (8-9 miles) off the coast of Changhua County in Taiwan, the site has an expected capacity of 600 megawatts. T

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