Siemens AG yesterday said it has inked an agreement to supply two wind turbines to Swancor Industry Co Ltd’s (上緯) wind farm operating subsidiary as part of a project to build the nation’s first offshore wind farm.
Formosa I Wind Power Co (海洋風電公司), which is fully owned by Swancor, is to start operating two offshore wind turbines with a combined capacity of 8 megawatts in Miaoli County in the third quarter of next year, with plans to add 30 units by the fourth quarter of 2019.
GOVERNMENT GRANT
The company plans to invest a total of NT$22.6 billion (US$689.8 million) on a wind farm project after receiving a grant from the Bureau of Energy in 2012 to build offshore wind turbines with installed capacity of 200 megawatts.
Swancor said it had secured NT$2.6 billion in bank loans to finance the installation of the two wind turbines and it is seeking to raise more fund for the remainder by issuing new shares and other financial tools.
Siemens is in talks with Formosa I Wind Power and other wind farm operators to supply more wind turbines to help Taiwan develop renewable and offshore wind power, Siemens Ltd, Taiwan president and chief executive officer Erdal Elver told a media briefing.
The Munich, Germany-based company has also signed a contract to provide maintenance services for Formosa I Wind Power’s wind turbines over a 10-year period. Siemens said it would seek local manufacturers to supply select components at a lower cost.
INCENTIVES
The government has offered incentives to maximize renewable energy development and utilization in the nation.
Companies receiving government subsidies, including Taiwan Generations Corp (永傳能源), to build wind farms can sell the electricity to state-run Taiwan Power Co (台電) via fee-in electricity tariffs over a 20-year period, the Bureau of Energy has said.
The government aims to attract a total of NT$67 billion in investment to build 4 gigawatts in wind farm capacity by 2030, the Ministry of Economics Affairs has said.
Elver said the target is attainable as Taiwan has a potential installed capacity of between 6 gigawatts and 10 gigawatts given its unique location.
Swancor makes wind turbine rotor resin and counts China’s biggest wind turbine maker, Goldwind Science and Technology Co Ltd (金風科技), as one of its major clients.
Taiwan’s long-term economic competitiveness will hinge not only on national champions like Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) but also on the widespread adoption of artificial intelligence (AI) and other emerging technologies, a US-based scholar has said. At a lecture in Taipei on Tuesday, Jeffrey Ding, assistant professor of political science at the George Washington University and author of "Technology and the Rise of Great Powers," argued that historical experience shows that general-purpose technologies (GPTs) — such as electricity, computers and now AI — shape long-term economic advantages through their diffusion across the broader economy. "What really matters is not who pioneers
In a high-security Shenzhen laboratory, Chinese scientists have built what Washington has spent years trying to prevent: a prototype of a machine capable of producing the cutting-edge semiconductor chips that power artificial intelligence (AI), smartphones and weapons central to Western military dominance, Reuters has learned. Completed early this year and undergoing testing, the prototype fills nearly an entire factory floor. It was built by a team of former engineers from Dutch semiconductor giant ASML who reverse-engineered the company’s extreme ultraviolet lithography (EUV) machines, according to two people with knowledge of the project. EUV machines sit at the heart of a technological Cold
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) last week recorded an increase in the number of shareholders to the highest in almost eight months, despite its share price falling 3.38 percent from the previous week, Taiwan Stock Exchange data released on Saturday showed. As of Friday, TSMC had 1.88 million shareholders, the most since the week of April 25 and an increase of 31,870 from the previous week, the data showed. The number of shareholders jumped despite a drop of NT$50 (US$1.59), or 3.38 percent, in TSMC’s share price from a week earlier to NT$1,430, as investors took profits from their earlier gains
TAIWAN VALUE CHAIN: Foxtron is to fully own Luxgen following the transaction and it plans to launch a new electric model, the Foxtron Bria, in Taiwan next year Yulon Motor Co (裕隆汽車) yesterday said that its board of directors approved the disposal of its electric vehicle (EV) unit, Luxgen Motor Co (納智捷汽車), to Foxtron Vehicle Technologies Co (鴻華先進) for NT$787.6 million (US$24.98 million). Foxtron, a half-half joint venture between Yulon affiliate Hua-Chuang Automobile Information Technical Center Co (華創車電) and Hon Hai Precision Industry Co (鴻海精密), expects to wrap up the deal in the first quarter of next year. Foxtron would fully own Luxgen following the transaction, including five car distributing companies, outlets and all employees. The deal is subject to the approval of the Fair Trade Commission, Foxtron said. “Foxtron will be
RSS