Windpower Monthly rating 4/5
Our rating is based on a combination of project pipeline, political and policy support, investor confidence and structural readiness of the country in terms of grid infrastructure, permitting process and local supply chain.
Forecast of installed and operating wind power capacity based on the latest statisitics and measured against the Windpower Intelligence database.
A favourable policy framework increased Taiwan’s reputation as a future offshore wind hub rapidly from 2015. As a result, major developers have opened offices, formed joint ventures, and secured financial backing for a spate of projects.
The government set a target of 5.5GW by 2025, while onshore it is aiming for 1.2GW.
Between April and June 2018 its Ministry of Economic Affairs allocated 5.4GW across 14 sites, with wind farms due to be online from 2021.
There remains uncertainty about projects’ bankability and grid reliability, however, according to commercial lobbying group the European Chamber of Commerce Taiwan.
But it could be the launching pad for the offshore wind industy in the rest of Asia, with Vietnam, South Korea and Japan closely monitoring the market.
The recent negotiations between the industry and Taiwan's government on a Feed-In Tariff goes to show just how far the market has yet to go to become a major offshore wind player, writes Alastair Dutton, chairman of GWEC's Global Offshore Wind Task Force.
There are many good reasons to celebrate the recent strong market development of offshore wind in the Asia-Pacific region (APAC). Most forecasters expect APAC to take the volume lead for annual installed offshore wind capacity from 2025.
US wind turbine maker GE has announced an agreement with the Taiwan Power Company to provide maintenance, repairs and spare parts for 26 turbines of 1.5MW in Taiwan.
WORLDWIDE: Windpower Monthly's new digest reveals recent deals that demonstrate low wind turbine costs and maintenance costs, a high offshore grid connection deal in Germany, rising gas generation costs in Europe and a nuclear strike price related to the length of contract
SOUTH EAST ASIA: Across the south-east Asian markets of Philippines, Taiwan, Thailand and Vietnam, collective installed wind capacity has grown by more than 166MW in the past year, all of it onshore.
Siemens Gamesa Renewable Energy (SGRE) has been confirmed as the turbine supplier for the 376MW Formosa 2 wind farm off Taiwan, as the developers announce financial close on the project.
Japanese energy group JERA has agreed to acquire a 49% stake in the 376MW Formosa 2 project being developed off the west coast of Taiwan, while the last turbine has been installed at the country's first large-scale offshore wind farm.
Ørsted has halted project development in Taiwan after missing a deadline to sign power purchase agreements (PPAs) with more valuable tariffs for two wind farms.
Macquare Capital and Swancor have signed a 20-year power purchase agreement (PPA) with Taiwanese state utility Taipower for the output of the joint venture's (JV's) 376MW Formosa 2 project.
Taiwan's ministry of economic affairs (MOEA) did not award contracts properly in its offshore wind auctions earlier this year, according to a government watchdog.