Fengmiao 1 (Taichung)
Located ~35 km off Taichung coast. CIP's first Round 3 project in Taiwan. Annual generation ~1.8 TWh expected.
Status
Under Constructionlifecycle stage
DeliveringHafrok completion outlook
Ownership
CICopenhagen Infrastructure Partners (CI V) — 100% ◆
Location
TaiwanTaiwan Strait
Technology
Capacity
495 MW ◇
Turbines
33 × 15 MW ◇
Model
Vestas V236 15-0 ◇
Foundation
Jacket ◇
Site & conditions
Site rights
Seabed rights held ∴
Origination
Taiwan Round 3 Zonal Development — Block 3.1 (區塊開發 3-1) · 2022 ·
Water depth
52–64 m ◇
Distance from shore
36 km ◇
Wind speed
11.0 m/s @ 150 m ≈
Revenue & grid
Offtake
PPA ◇
Grid
Secured · 2022-12 ◇
Connection
Taiwan Power Company Taichung Zhongqing substation ◇
Schedule
FID
19 Mar 2025 ◇
COD · announced
2027 ◇
COD · Hafrok
2027 expected
Delivery outlook modelled by Hafrok · calibrated on delivered projects
2027
expected year of commercial operation
Chance of delivery
≈98%
estimated chance this project reaches commercial operation
Under Construction projects complete ≈97% of the time on Hafrok's record. A secured offtake contract lifts this one slightly; technical complexity pulls a little the other way.
COD outlook
If it completes, when — Hafrok’s probability by year (teal)
| Year | Probability |
|---|---|
| 2027 (expected) | 86.7% |
| 2028 | 13.3% |
How Hafrok got this date
1
Starting point: the last dated milestone
Construction start in
2025. From there Hafrok adds how long similar projects (in established offshore-wind markets) took to reach commercial operation, measured on projects that have delivered.2
Typical timing
Starting point plus the typical remaining time gives a middle estimate of
2027; the faster quarter of similar projects would be done by 2026, the slower quarter not until 2028.3
Result
Expected commercial operation
2027, likely range 2026–2028 (the middle half of outcomes for similar projects). The developer's announced date falls inside that likely range, so the announced date is adopted.4
Year-by-year chart
The bars spread that estimate across years using how similar projects actually slipped against their dates — more often late than early, which is why the bars lean right.
5
Chance of delivery — separate from timing
Start from the share of Under Construction projects that went on to complete — ≈97%, measured on Hafrok's record of delivered and abandoned projects, with an allowance held back where that record cannot yet speak (projects still unresolved, changed market conditions). Based on the measured record — all 257 construction starts with a final outcome reached operation — adjusted down for projects still mid-build and for legal-challenge risk. Then adjust for this project's own evidence — offtake, market, size, technical complexity — to ≈98%, which rates it
Delivering on Hafrok's four-step delivery scale (Delivering · Expected · Prospective · Fragile).Project timeline & ownership verified milestones on the spine · ownership from Hafrok’s transactions record
Origination · 2022-12
Taiwan Round 3 Zonal Development — Block 3.1 (區塊開發 3-1)
- Awarded to
- Copenhagen Infrastructure Partners (CIP)
- Basis
- integrated tender
From the auction results — the round that created the project.
Farmdown · 2025-05
CIP → MOL (Mitsui OSK Lines) 10%
- Stake
- 10%
- Consideration
- €150m
- Implied 100% value
- €1,499m
- Implied
- €3.03m / MW
- Announced
- 2025-05
- Project stage
- under construction
In May 2025, Copenhagen Infrastructure Partners agreed to sell a 10% stake in the 495 MW Fengmiao I offshore wind farm to Mitsui OSK Lines Ltd (MOL), a Japanese shipping and energy company. MOL invested approximately JPY 25 billion (USD 172.6 million = EUR 163 million at USD/EUR 0.95 or JPY/EUR 0.0060). FX check: JPY 25,000m × 0.0060 = EUR 150m; USD 172.6m × 0.95 = EUR 164m. Implied 100% equity value: EUR 150m / 10% × 100% = EUR 1,499m. Implied EUR/MW: EUR 1,499m / 495 MW × 1,000,000 = EUR 3,028,000/MW. The project is CIP's third offshore wind farm in Taiwan (after Changfang-Xidao and Zhong Neng) and the first of Taiwan's Round 3.1 projects to reach financial close. It features 33×Vestas V236-15 MW turbines. MOL's entry is its first direct investment in a construction-stage offshore wind project in Asia. CIP retains 90% of the project through its Copenhagen Infrastructure V (CI V) fund. Data confidence: HIGH — deal value confirmed in JPY by CIP and MOL press releases.
Evidence
- globenewswire.com — Copenhagen Infrastructure Partners divests 10% stake in ↗ 2025-05 ◆ held
- mol.co.jp — MOL to Join Offshore Wind Power Project off Taiwan - Advancing toward Clean Energy Production through Participation from Construction Phase - | Press Release | Mitsui O.S.K. Lines, Ltd. ↗ 2025-05 ◆ held
- renewablesnow.com — MOL to take 10% stake in CIP’s Fengmiao I wind project off Taiwan - Offshore Wind News ↗ 2025-05 ◆ held
From Hafrok’s transactions record
Dashed tick marks today (9 Sep 2026). The ▲ below the spine is the developer-announced COD. The teal diamond on the spine is origination — the seabed award or round that created the project. Every other ownership event lives in the band below: one station per recorded deal, dated at its label, in deal order rather than to calendar scale. Secondary trades appear only at the interchanges; grey lines are parties whose entry or exit Hafrok’s record does not hold.
Revenue & offtake the regime the project was built under
Offtake regime on record
RegimePortfolio of six corporate CPPAs (zero-subsidy); offtakers include Google, Far EasTone, Sino-American Silicon Products/SES and others
InstrumentPPA
A built project sells its power under the contract or support regime it was financed with; it is not expected to bid into new government offtake rounds. Where the record does not yet name that regime, the row says so rather than guessing.
Installation how the build is going · from satellite counts and Hafrok’s registers
Installation under way
no satellite count yet: this farm is outside the tracker’s coverage so far
Installation · on record
StageUnder Construction
Offshore constructionstarted 2026-Q1
Expected start of operation2027
Sources & verification
1/16 fields verified · rests on 9 sources (2 primary) · ◆ 6 documents held
◆Verified≈Modelled◇Sourced∴Inferred⌁Convention○Unverified∅No source·Derived
Numbers are stable citation ids — grouped by source class, so they are not consecutive.
Operator1
[11]
Mitsui O.S.K. Lines2025-05-09◆ MOL to Join Offshore Wind Power Project …
“MOL ... has agreed to acquire a 10% stake in CI Fengmiao Ltd from Copenhagen Infrastructure Partner P/S (CIP) ... CI Fengmiao is a 100% shareholder of Feng Miao Offshore Wind Farm, that CIP is develop…”
supportsoperator
Financier1
[6]
Credit Agricole CIB2025-03◆ Financing the first Round 3.1 offshore w…
“This is also the first-ever offshore wind project in Taiwan to be supported by multiple corporate offtakers under power purchase agreements. [...] awarded grid capacity in Taiwan's Round 3.1 auction.”
supportsStatusConnection point
Trade press6
[2]
offshoreWIND.biz2022-12◆ Taiwan awards Round 3.1 offshore wind ca…
Press report — cited, not quoted; read it at the source link.
supportsTotal capacity
[3]
GlobeNewswire (CIP press release)2025-03-19◆ Copenhagen Infrastructure Partners reach…
“Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure V (CI V), has reached financial close on the 495MW Fengmiao I offshore wind project off the coast of Taichung, Taiw…”
supportsFinal investment decisionCommercial operationTotal capacityMechanismDetail
[5]
[7]
Power Technology2025
Press report — cited, not quoted; read it at the source link.
supportsTotal capacityFoundationWater depthDistance from shore
[8]
[9]
Unverified import1
[1]
unknown◆ Financing the first Round 3.1 offshore w…
supportsTotal capacityFoundationWater depthDistance from shoreCoordinates