Taiwan is undergoing a major energy transition, with the current government targeting to eliminate nuclear power from the island by 2025 and to replace it with a vast new renewable energy sector, especially solar and offshore wind. This is attracting considerable investment interest as a result.
It has set ambitious targets to change the underlying fuel mix — a “20-30-50” formula that would see 20% of power generated by renewable sources, just 30% from coal, and 50% from natural gas by 2025.
Also, the government has listed green and renewable energy as one of the six core strategic industries for priority development, viewing it as a clean source of energy and a potentially valuable export industry.
As part of efforts to promote Taiwan as a renewable energy hub, the government has adopted several supporting policies and programmes, including the Renewable Energy Development Act, the Taiwan Renewable Energy Certificate (T-REC) programme, and the renewable portfolio standard scheme.
The strategic development of Taiwan’s renewable energy market is creating significant investment opportunities for developers, investors and others across a number of key areas, including renewable power generation, energy storage, demand-side management, and electric vehicle charging.
Our New Energy Services team has extensive hands-on knowledge and professional experience of Taiwan’s energy sector and regulations, and we can support you to seize the emerging market opportunities, find suitable local partners, and build a successful renewable energy business in Taiwan.
