CIP completes sale of interest in Changfang and Xidao wind projects
Date
January 24, 2020
Type
M&A Transactions
Subtype
Transaction completed
Countries
Taiwan
Subsectors
Offshore Wind
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Danish wind energy developer Copenhagen Infrastructure Partners (CIP) has completed the sale of its 12% interest in its two offshore wind projects in Taiwan to Taiwan Life Insurance Co and Transglobe Life Insurance Co through a joint-venture company.
The Financial Supervisory Commission (FSC) of Taiwan has approved the TWD2.5 billion (US$83.47 million) and TWD1.7 billion (US$56.78 million) investment from Taiwan Life and Transglobe, respectively, for the 12.5% stake of the 48 MW Xidao and the 552 MW Changfang offshore wind projects located off the coast of Changhua County.
CIP will remain the largest shareholder of 87.5% to the two wind farms that have a combined capacity of 600 MW. The projects are expected to be operational by 2024.
