Changfang and Xidao is a 600 MW offshore wind project off the coast of Changua County, Taiwan. The project reached financial close and start of construction in February 2020. The Changfang and Xidao project is owned by two funds managed by Copenhagen Infrastructure Partners (CIP) and a minority stake is owned by two local life insurance companies. CIP will lead the project through its construction phase with expected start of commercial operations targeted 2023 Q4.
The project required the international expertise and local knowledge that ERM was able to provide. These requirements involve a complex review of all available project documents linked to Environmental and Social (E&S) aspects of the project against OECD Common Approaches and Equator Principles (EPs). Both the OECD Common Approaches and the EPs are underpinned by the IFC Performance Standards (IFC PS) and World Bank Group IFC Environmental, Health and Safety Guidelines, Environmental, Health and Safety Guidelines for Wind Energy and Environmental, Health and Safety Guidelines for Electric Power Transmission and Distribution (IFC EHS Guidelines); collectively the "Reference Framework."
ERM’s bilingual team comprised the necessary expertise in offshore wind, biodiversity, and social aspects required to carry out the environmental and social due diligence service. Given the high concern of the project’s impact on biodiversity, ERM also provided guidance to the Changfang and Xidao project ensuring their compliance with the Reference Framework. Working closely with Changfang and Xidao project and Lenders Consortium, ERM was able to help steer the due diligence process to achieve a timely financial close.
Chief Development Officer Taiwan, Copenhagen Offshore Partners