Copenhagen Infrastructure Partners has agreed to sell a 25% stake in its 595MW Changfang and Xidao wind farms off Taiwan.
Thai power company Global Power Synergy Public Company (GPSC) will acquire the stake through its wholly owned subsidiary, Global Renewable Synergy Company (GRSC).
Copenhagen Infrastructure Partners will remain the majority owner through its II K/S (CI-II) and III K/S (CI-III) funds. It will continue to lead development of the wind farm, which is due to start commercial operations in the first quarter of 2024.
Closing of the transaction is subject to certain conditions, including approval from several Tawianese government departments.
CIP partner Michael Hannibal said the sale of the minority stake recognises the value the investors had added to the project during the development phase and initial construction phase.
The wind farms – 96MW Changfang Phase 1 Changfang Phase 1 (96MW) Offshoreoff Changhua, Taiwan, Asia-Pacific Click to see full details, 451.2MW Changfang Phase 2 Changfang Phase 2 (451.2MW) Offshoreoff Changhua, Taiwan, Asia-Pacific Click to see full details and 48MW Xidao Xidao (48MW) Offshoreoff Changhua, Taiwan, Asia-Pacific Click to see full details – are due to feature 62 of Vestas’ V174-9.5MW turbines.
Copenhagen Infrastructure Partners secured grid capacity for the projects in 2018 and entered into a 20-year power purchase agreement with the state-owned Taiwan Power Company in 2019.
GPSC is a subsidiary of Thai energy company PTT Public Company.