Updated December 3, 2025 – LSP Renewables has been awarded a contract by Copenhagen Infrastructure Partners (CIP) to serve as client representative and marine coordinator for the Fengmiao 1 offshore wind farm project in Taiwan. This is also LSP Renewables’ third offshore wind project in the East Asia country. The 495 MW Fengmiao 1 site is located 35 km off the coast of Taichung. It will have thirty three, 15.0 MW turbines on jacket foundations and targets grid connection in 2027. With this award, LSP also renews its collaboration with CIP and continues to reinforces its presence in Asia’s growing offshore wind market. The market is also coming up as a favorite for technology majors like Google who plan to source renewable energy from Fengmiao I.
CIP’s $3.1 bn 495 MW Fengmiao I offshore wind project in Taiwan sees progress with financial closure
Reported March 19, 2025 – Danish-based Copenhagen Infrastructure Partners (CIP) has reached a US$3.1 billion financial close for Fengmiao I offshore wind farm project in Taiwan. This will be the third Taiwanese wind energy project enabled by some of the world’s largest renewable projects financier. The first and second of these projects are the Changfang & Xidao and Zhongneng (CFXD).
Project factsheet for Fengmiao I offshore wind farm in Taiwan
Location: Taichung, Taiwan
Cost: $3.1 billion
Developer: Copenhagen Infrastructure Partners (CIP)
Capacity: 495 MW
Turbine supplier: Vestas
Construction completion date: 2027
Financial advisors: BNP Paribas, CTBC Bank
Legal advisors on financing: White & Case, Baker McKenzie
– on supply contracts: Accura
– to financier banks and ECAs: Orrick, Lee & Li
Client representative and Marine coordinator: LSP Renewables
CIP’s project financial closure and broader outlook
The Fengmiao I offshore wind project is the first of Taiwan’s third round of projects auction to reach financial closure and start construction. After 2 years of planning, the 495 MW wind project has attracted prominent construction firms for its progress in development.
Of early disclosure in the list is Vestas, who will deliver 33 units of their 15 MW turbines. Also, with fast-tracking of the whole development process, construction of the Fengmiao I offshore wind farm project in Taiwan is due by the end of 2027.
CIP’s financial closure for the Fengmiao I features in its Copenhagen Infrastructure V K/S investment fund, one that also helped the Danish investment firm reach its acclaimed “world’s largest renewable energy projects financier” status.
The $3.1 billion is a money pool cast by 27 banks – both international and Taiwanese. Also in this pool is debt financing, where four Export Credit Agencies (ECAs) and Taiwan’s National Credit Guarantee Administration appear as guarantors.
Power Purchase Agreements (PPAs) for Fengmiao I’s 495 MW offshore wind project have also been completed. Some of the names in agreements include MediaTek and SAS & SES.
Termed as a “major milestone for CIP”, and the topping of the “culmination of years of hard work and dedication” from project stakeholders, the Fengmiao I offshore wind project sets a new benchmark for Taiwan’s green energy transition. Also in the long-term outlook is that the energy asset will profit both large and small-scale energy users in Taiwan.
