CIP funds to remain majority owners of 595MW project due to start commercial operations in 2024
Bangkok-listed Global Power Synergy Public Company Limited (GPSC) has acquired a 25% stake in the 595MW Changfang and Xidao (CFXD) offshore wind farms in Taiwan. The Thai company, a subsidiary of state-owned oil and gas group PTT, is paying US$500 million for the shares.
The seller is Copenhagen Infrastructure Partners (CIP), on behalf of the funds Copenhagen Infrastructure II K/S (CI-II) and Copenhagen Infrastructure III K/S (CI-III). FIH Partners acted as exclusive financial adviser and White & Case was legal adviser to CIP on the transaction.
GPSC is doing the deal through a wholly owned subsidiary, Global Renewable Synergy Company Limited (GRSC).
The two CIP funds, CI-II and CI-III, will continue as joint majority owners of the project, and lead the construction…
