Danish pension fund Lægernes Pension has invested almost DKK 400m in a wind farm off the coast of Taiwan.

The wind farm has been established by Copenhagen Infrastructure Partners (CIP), with Lægernes Pension as one of the investors.

It is expected to increase the country’s offshore wind turbine capacity by 25 per cent.

The wind farm, Changfang-Xidao, began development in 2017 and was inaugurated on 21 May 2024.

Its total capacity is just under 600 megawatts, corresponding to green electricity for 650,000 households in Taiwan.

According to Lægernes Pension, the combination of a positive climate contribution and the possibility of a competitive return constituted a significant motivation to invest in the project.

When the wind farm is fully operational, it will produce enough renewable energy to reduce CO2 emissions by 1.1 million tons a year.

Commenting on the investment, Lægernes Pension & Bank CEO, Chresten Dengsøe, said it was part of the pension fund’s climate strategy.

“At Lægernes Pension, we have realised a goal to lower our climate footprint from investments in shares, properties and government bonds one year ahead of schedule,” he stated.

“However, our ambitions do not end there. By expanding our investments in renewable energy with, among other things, even more wind turbines, we want to raise our ambitions and lower the climate footprint from our investments further.”

CIP senior partner, Christina Grumstrup Sørensen, added: "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.

"We get the opportunity to spread Danish knowledge and know-how in the green area and secure green electricity for 650,000 households in Taiwan, so the project is a good opportunity to support a more sustainable development also internationally.

"If Lægernes Pension can achieve a competitive return at the same time, we will kill two birds with one stone."

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