Star Energy Corp (星能股份) won a bid yesterday to provide wind-power generation facilities to Taiwan Power Co (Taipower, 台電) for NT$3.2 billion (US$98.2 million), a filing to the Taiwan Stock Exchange showed.
Star Energy, a wholly-owned electricity generation subsidiary of Taiwan Cogeneration Corp (
State-owned Taipower's floor price was NT$3.37 billion.
Star Energy beat Fortune Electric Co (華城電機) to win the Shihu and Linkou contracts, which are part of the second phase of Taipower's nine-year wind power project.
Fortune Electric -- which designs and manufactures transformers, switch gears and distribution equipment -- submitted a tender of NT$3.47 billion, Taipower said.
Shares of Taiwan Cogeneration rose NT$0.25 or 1.47 percent to close at NT$17.2 yesterday.
The news of winning bid came after the close of stock market, but the stock of Fortune Electric was limit up yesterday amid market speculation that it would win the bid. It closed NT$3.35 higher at NT$51.8.
Taipower completed the first phase of the wind power project with the installment of 60 units of wind power generators for a capacity of 98.96 megawatts, the company said on its Web site.
The company is now working on the second phase of the project which aims to install 58 units with a total capacity of 116 megawatts, the Web site said.