MOL has agreed to acquire a 10% stake in CI Fengmiao Ltd from Copenhagen Infrastructure Partner P/S (CIP)
Mitsui O.S.K. Lines, Ltd. (MOL) says it has agreed to acquire a 10% stake in CI Fengmiao Ltd from Copenhagen Infrastructure Partner P/S (CIP), a Danish renewable energy fund, in order to gain insights by participating in the offshore wind power business from the construction phase.
CI Fengmiao is a 100% shareholder of Feng Miao Offshore Wind Farm (Note 1), that CIP is developing in Taiwan. The project's wind farm has a generating capacity of 495 MW, which is equivalent to the electricity used by about 650,000 households in Taiwan.
MOL's investment in the project is expected to total around ¥25 billion.
The construction of the offshore wind farm began simultaneously with the final investment decision in March 2025, and is scheduled for completion by the end of 2027. In addition, the green energy will be delivered to a group of six large local and international energy users in Taiwan, including companies such as Google and United Microelectronics Corporation, who have entered into long-term power purchase agreements with Feng Miao Wind Power for its entire capacity.
The participation in the Feng Miao I is the second investment in offshore wind in Taiwan to MOL following the Formosa I Offshore Wind Farm (Note 2), and through our involvement in this project, we aim to further expand the renewable energy business and contribute to building a decarbonized society. MOL plans to dispatch personnel from the construction phase of this project. Through this deployment, MOL aims to deepen our understanding of the offshore wind power business. MOL will also contribute to the project by providing vessels to support construction and maintenance of the project.
The offshore wind power business, which is a segment of the renewable energy business, is considered as one of the concrete action plans in the portfolio strategy for the energy business under the management plan "BLUE ACTION 2035". MOL is committed to providing a wide range of services in the offshore wind power value chain, including investment in Odfjell Oceanwind AS for floating offshore wind development (Note 3), SOV business in Taiwan (Note 4), CTV operation in Japan (Note 5) and capital alliance with the wind power maintenance company Hokutaku Co., Ltd. For more information on MOL's offshore wind power business, please refer to "MOL Solutions."
About Copenhagen Infrastructure Partners P/S
Founded in 2012 in Denmark. CIP is one of the world's largest dedicated fund manager within greenfield renewable energy investment.