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Lægernes Pension, the €16 billion pension scheme for Danish doctors has invested approximately €53 million in a Taiwanese wind farm. The Changfang-Xidao project is located 11 km off the west coast of Taiwan and is majority owned by Copenhagen Infrastructure Partners (CIP) alongside local Taiwanese partners the Global Power Synergy Public Company, Taiwan Life, and Transglobe Life.
The construction of the facility began in 2021 and was completed on 21 May 2024. The project was led by Copenhagen Offshore Partners (COP), which develops offshore wind projects exclusively for CIP, and involved an exceptional level of collaboration with local suppliers and vendors. The wind farm’s capacity is just under 600 MegaWatts (MW), which will enable green electricity to be supplied to 650,000 households in Taiwan in a move that increases the country’s total offshore wind turbine capacity by a quarter.
Lægernes ahead of sustainability schedule
Chresten Dengsøe, CEO of Lægernes Pension & Bank believes that the investment will demonstrate that sustainability targets can be achieved alongside healthy financial returns. According to Dengsøe, Lægernes Pension has achieved its stated emissions reduction targets for equities, government bonds, and property investments one year ahead of schedule. However, he would like to forge ahead and this investment in offshore wind is part of the pension provider’s ambitions to further reduce its climate footprint.
The Changfang-Xidao wind farm has the capacity to reduce Taiwan’s overall annual emissions by more than one million tonnes of CO2. Dengsøe believes the project is a good example of Danish green energy expertise contributing to sustainable development on an international basis. “If Lægernes Pension can achieve a competitive return at the same time, then we will kill two birds with one stone,” adds Dengsøe.
Christina Grumstrup Sørensen, Senior Partner at CIP, says that the inauguration of Changfang-Xidao is a milestone for CIP as well as for the partners in the project: “Together we have successfully built a project that makes a meaningful contribution to Taiwan’s energy transition and plays a significant role in establishing the local offshore wind industry – and will support Taiwan’s long-term ambitions in offshore wind,” she says.
