Credendo insures the project financing for the Fengmiao offshore wind farm

Credendo has recently issued an insurance policy related to the project financing for the Fengmiao offshore wind farm in Taiwan. Credendo is providing its support on the back of various large contracts signed by Belgian exporters. DEME, through its Taiwanese joint venture CDWE, will be involved in the transportation and installation of 33 jacket foundations, the pin piles anchoring them to the seabed, and the offshore substation, while Jan De Nul will be responsible for the transportation and installation of the export cables that transfer the power from the wind farm to the mainland.

This 495-megawatt project is being developed by the Danish company Copenhagen Infrastructure Partners (CIP), a global leader in offshore wind development. The wind farm will be built just off Taiwan’s west coast, in the Taiwan strait.

Construction will start soon and is expected to be completed by the end of 2027. The project shall be funded by means of EUR 2.9 billion in project financing provided by 27 international and local banks, partly secured by several ECAs. Alongside Credendo, Atradius, EIFO, UKEF and Taiwan Exim are also providing support.