CIP sets up Taiwan office for offshore wind push

The Danish fund manager is teaming up with the island’s steel maker and a Japanese energy company to develop its fourth project.

Copenhagen Infrastructure Partners opened a project office in Taipei, Taiwan last week, in a bid to scale up its offshore wind portfolio on the island.

CIP is currently developing three offshore wind farms in Taiwan, located west of Changhua, with a total capacity of up to 1.5GW, according to Jesper Krarup Holst, chief executive of CI Wind Power Development Taiwan.

“The three projects are in the process of applying for the environmental permit which is required to be in place by end of 2017,” he said. The projects were acquired through two CIP funds in May this year – the €2 billion Copenhagen Infrastructure II and Copenhagen Infrastructure III, which hit a third close on €1.9 billion and is on its way to reaching its €3 billion target.

In addition to the development of the three projects, CIP agreed to collaborate with China Steel Company, Taiwan’s state-owned steel maker, and Diamond Generation Asia, Mitsubishi Corporation’s Asia-focused power generation unit, to jointly develop the area known as offshore wind zone 29. The latter received environmental approval on 29 September.

The Danish fund manager expects to set up an operation and maintenance base for the projects in Changhua and will launch an apprenticeship programme for wind turbine technicians at the Chienkuo Technology University.

CIP currently manages four funds with combined assets under management of more than €5.5 billion. Its investments include a wide range of renewable energy infrastructure assets in Europe, North America and East Asia (Taiwan).