Copenhagen Infrastructure II K/S and Copenhagen Infrastructure III K/S are selling a minority stake in their 600-MW Changfang and Xidao offshore wind farm to Taiwan Life Insurance Co. Ltd. and Transglobe Life Insurance Inc.
The project, located 13 km to 15 km off the coast from Changhua County, Taiwan, is in the phase of a financial close. It has received all the permits for development, according to a news release. It has already secured a power purchase agreement with Taiwan Power Co.
This is the first transaction in Taiwan in which life insurance companies have made direct investments in the renewables sector. The transaction value was not disclosed.
FIH Partners A/S acted as an adviser for Copenhagen Infrastructure Partners K/S, which manages the two funds. Taiwan Life is owned by CTBC Financial Holding Co. Ltd.