MITSUI OSK Lines said it has acquired a 10% stake in Taiwan’s 495 MW Feng Miao Offshore Wind Farm for about ¥25bn ($170m).

The investment deepens the Japanese shipping group’s exposure to Taiwanese renewable power projects, as it seeks to expand its offshore wind business amid a broader net zero push.

MOL purchased the minority position from Copenhagen Infrastructure Partners, which is developing the wind farm through wholly owned subsidiary CI Fengmiao, 35 km off Taichung county.

The project has been under construction since March 2025 when sponsors made a final investment decision, with full commissioning slated for the end of 2027. Its generation capacity can meet power demand for about 650,000 Taiwanese households.

Feng Miao sold 100% of its electricity through long-term offtake agreements with high-profile corporate buyers including Google, United Microelectronics and others.

For MOL, the acquisition builds on its initial Taiwan offshore wind investment two years ago in Formosa I and furthers its goal to provide services across the entire lifecycle of such facilities. This ranges from specialised vessels to maintenance capabilities and direct project ownership.

“Through this deployment, MOL aims to deepen our understanding of the offshore wind power business,” said the company.

Last year, MOL acquired a majority stake in Hokutaku, Japan’s largest wind turbine maintenance company. It is also a shareholder in Odfjell Oceanwind, which specialises in floating offshore wind technologies.

The shipping giant set offshore wind as a priority segment under its Blue Action 2035 business plan, amid a broader industry pivot towards renewables and lower emissions fuel sources.