Taiwan Companies Set to Grab Offshore Wind Opportunities

June 1, 2012

Taiwanese companies from various industries are set to search for profit in renewables market, after the government’s decision to fund construction of 600 large offshore wind turbines.

Around 50 local companies formed the Taiwan Wind Turbine Industry Association (TWTIA) this April, with the purpose of boosting wind power use and its development on the island, the CENS.com portal writes.

Following the government`s plan, they want to grab business opportunities worth over USD 34.47 billion.

The window of opportunities expands further with the Bureau of Energy’s (BOE) intention to publish incentive regulations on test operations of offshore wind turbines in Taiwan in two weeks.

Namely, BOE plans to initially give around USD 23.4 million to two private operators each to purchase necessary facilities and components and a subsidy of around USD 8.3 million to utility company Taiwan Power Co. only for spending on construction.

(1 Taiwan dollar = 0.033389 U.S. dollars)

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Offshore WIND staff, June 1, 2012; Image: taiwangenerations