The Zhong Neng offshore wind project in Taiwan has reached financial close, Copenhagen ƶijϻ Partners said Wednesday.
The process for reaching financial close on the Zhong Neng project started 14 months ago and the large-scale offshore wind project will now be financed through CI IV, CSC, and loans for a consortium of 20 banks, COP said.
Zhong Neng, is a 298MW offshore wind project off the coast of Changhua County, Taiwan. It will provide approximately. 300,000 households in Taiwan with electricity. The construction will start in 2023.
"Copenhagen ƶijϻ Partners (COP) has been involved in the project organization throughout the development of Zhong Neng, and we will continue our involvement in the construction phase of the project," COP said, congratulating Joris Hol, CEO of the Zhongneng project.
Zhong Neng is a joint venture between Copenhagen Infrastructure Partners (“CIP”) through its fund Copenhagen Infrastructure IV (“CI IV”) and China Steel Corporation (“CSC”).
The project is located next to CIP’s offshore wind farm, Changfang and Xidao, which is currently under construction. The project will utilize jacket foundations to be supplied by CSC’s subsidiary, Sing Da Marine Structures, and Vestas will provide 31 174-9.6MW turbines.