A consortium of 20 banks signed a $ 1.6 billion (NTD 45 billion) project finance agreement for the 298MW Zhong Neng I Zhong Neng I (298MW) Offshoreoff Changhua, Taiwan, Asia-Pacific Click to see all the details wind farm at sea.

The project – developed by a joint venture between Copenhagen Infrastructure Partners (CIP) (49%) and China Steel Corporation (CSC) (51%) – is planned for a site in the Taiwan Strait off Changhua County.

It will be funded by a combination of equity from CIP’s Copenhagen Infrastructure IV fund and CSC, as well as bank loans. Financial close is expected shortly, paving the way for the start of construction.

“CIP is very pleased to have reached this milestone of the project in close collaboration and partnership with our joint venture partner, CSC. We are delighted to soon enter the construction phase of Zhong Neng which, once commercial operation begins, will provide clean energy to approximately 300,000 homes in Taiwan, â€said Michael Hannibal, CIP partner.

The project site is located next to that of the CIP under construction 95MW Changfang Phase 1 Changfang Phase 1 (95MW) Offshoreoff Changhua, Taiwan, Asia-Pacific Click to see all the details, 446.5 MW Changfang Phase 2 Changfang Phase 2 (446.5 MW) Offshoreoff Changhua, Taiwan, Asia-Pacific Click to see all the details and 47.5 MW Xidao Xidao (47.5 MW) Offshoreoff Changhua, Taiwan, Asia-Pacific Click to see all the details wind farms. CSC and CIP will support Zhong Neng in its construction phase, with commercial operations scheduled to start in 2025.

The Jacket foundations will be supplied by CSC’s subsidiary, Sing Da Marine Structures, while Vestas will supply 31 of its V174-9.6 MW turbines. The project benefits from a 20-year PPA with state-owned Taiwan Power Company, signed in 2019.