Credendo backs $3.3 B Taiwan wind project
Credendo insures $3.3 B (€2.9B) project financing for the 495 MW Fengmiao offshore wind farm involving Belgian and international firms.
Image for illustration purposes
Taiwan: Credendo has issued an insurance policy to support the financing of Taiwan’s Fengmiao offshore wind farm project. This backing is based on several major contracts secured by Belgian exporters. DEME, through its joint venture CDWE, will manage the transport and installation of 33 jacket foundations, pin piles, and the offshore substation. Meanwhile, Jan De Nul will handle the transport and installation of the export cables that will connect the wind farm to the mainland grid.
The 495 MW offshore wind farm is being developed by Copenhagen Infrastructure Partners (CIP), a Danish firm known for its significant involvement in offshore wind projects. The wind farm is planned for construction in the Taiwan Strait, just off the country’s western coast.
Construction is expected to begin shortly, with completion targeted by the end of 2027. The investment is funded through project financing by a consortium of 27 local and international banks. A portion of this financing is secured by multiple export credit agencies (ECAs), including Credendo, Atradius, EIFO, UKEF, and Taiwan Exim.
The project underscores growing global cooperation in renewable energy, highlighting Belgium’s active role in international offshore wind development.
Source: Credendo
#Belgian exporters#CDWE#Copenhagen Infrastructure Partners#Credendo#DEME#Fengmiao wind farm#offshore wind#project financing#renewable energy#Taiwan
