Copenhagen Infrastructure Partners (CIP) announced that reached financial close for the 589 MW offshore wind project’s establishment in the coast of Changhua County, Taiwan. In fact, the Changfang and Xidao wind farm will be powered by 62 of MHI Vestas 9.5MW turbines and are expected to begin operations in early 2024.
Following the company’s announcement, the construction of the offshore wind farm is estimated to begin in the following period.
This project, besides being a remarkable project in Taiwan where it marks the continuation of the offshore wind build out, is part of leading the way for the complete APAC region going into offshore wind.
…said Anders Eldrup, CIP APAC Chairman.
CIP informed that the financial close was reached via its Copenhagen Infrastructure II (CI II) and Copenhagen Infrastructure III (CI III). For the records, CI II and CI III managed to raise around $3 billion from export credit agencies, banks and financial organizations.
Reaching financial close marks a major milestone for the Changfang and Xidao project and we are really excited about entering the construction phase of the project and will once commercial operation start provide clean energy to more than 600,000 households in Taiwan
…Michael Hannibal, CIP Partner continued.
Located at the Changhua County, Taiwan, Changfang and Xidao wind farm will be installed with 62 wind turbines, delivered by MHI Vestas.
The offshore infrastructure was first developed in 2017 and gained approval back in December 2019.
After the official approval of the wind project, a 20-year power purchase agreement (PPA) was inked among CIP and the state-owned Taiwan Power Company.
…CEO of Changfang Xidao, Jesper Krarup Holst concluded:
Since we entered the Taiwan offshore wind market in 2017 we have worked intensively with Taiwanese companies and the government to build up the local supply chain and we are therefore proud to deliver the project with the highest extent of localization in Taiwan to date.