The Ministry of Economic Affairs yesterday established the National Renewable Energy Certificate center as part of efforts to attract foreign enterprises that pledge to use “renewable” energy when investing or placing orders with local manufacturers.
“Google and some foreign companies used to raise doubts over the ‘purity’ of the renewable energy supply here. Certificates issued by the center could ease such concerns,” Minister of Economic Affairs Lee Chih-kung (李世光) said, adding that both Google and Apple Inc have welcomed the center.
The Taipei-based center is to issue its first renewable energy certificate (REC) before the end of June at the earliest, according to the Bureau of Standards, Metrology and Inspection.
Photo courtesy of the Ministry of Economic Affairs
‘GREEN’ TAGS
RECs, also known as “green” tags, provide proof that an enterprise’s electricity was generated from an eligible renewable energy source. The US, EU, Japan and Australia also have institutions to issue RECs.
Certifiable renewable energy sources include solar, wind, biomass, hydroelectric and geothermal power, bureau Director-General Liu Ming-chung (劉明忠) said.
The center will verify the power generation process and investigate a company’s actual “green” power usage, Liu said.
In addition, the center could serve as a matchmaking platform to help enterprises seek power companies to buy “green” energy and obtain RECs.
CLOSELY MONITORED
Some international companies, such as Google, have closely monitored the ministry’s process to establish the center as they have investments in Taiwan, a source at the bureau told the Taipei Times on condition of anonymity.
The source said that after Apple on Thursday released its environmental report saying that three more of its suppliers have pledged to power their production lines only with renewable energy sources by the end of next year, the bureau received “countless” calls from local firms in the Apple supply chain asking about the process of applying for RECs.
The bureau is to host a conference for enterprises and power companies on Friday next week to explain the REC application process in detail, the source said.
The US dollar was trading at NT$29.7 at 10am today on the Taipei Foreign Exchange, as the New Taiwan dollar gained NT$1.364 from the previous close last week. The NT dollar continued to rise today, after surging 3.07 percent on Friday. After opening at NT$30.91, the NT dollar gained more than NT$1 in just 15 minutes, briefly passing the NT$30 mark. Before the US Department of the Treasury's semi-annual currency report came out, expectations that the NT dollar would keep rising were already building. The NT dollar on Friday closed at NT$31.064, up by NT$0.953 — a 3.07 percent single-day gain. Today,
‘SHORT TERM’: The local currency would likely remain strong in the near term, driven by anticipated US trade pressure, capital inflows and expectations of a US Fed rate cut The US dollar is expected to fall below NT$30 in the near term, as traders anticipate increased pressure from Washington for Taiwan to allow the New Taiwan dollar to appreciate, Cathay United Bank (國泰世華銀行) chief economist Lin Chi-chao (林啟超) said. Following a sharp drop in the greenback against the NT dollar on Friday, Lin told the Central News Agency that the local currency is likely to remain strong in the short term, driven in part by market psychology surrounding anticipated US policy pressure. On Friday, the US dollar fell NT$0.953, or 3.07 percent, closing at NT$31.064 — its lowest level since Jan.
The New Taiwan dollar and Taiwanese stocks surged on signs that trade tensions between the world’s top two economies might start easing and as US tech earnings boosted the outlook of the nation’s semiconductor exports. The NT dollar strengthened as much as 3.8 percent versus the US dollar to 30.815, the biggest intraday gain since January 2011, closing at NT$31.064. The benchmark TAIEX jumped 2.73 percent to outperform the region’s equity gauges. Outlook for global trade improved after China said it is assessing possible trade talks with the US, providing a boost for the nation’s currency and shares. As the NT dollar
The Financial Supervisory Commission (FSC) yesterday met with some of the nation’s largest insurance companies as a skyrocketing New Taiwan dollar piles pressure on their hundreds of billions of dollars in US bond investments. The commission has asked some life insurance firms, among the biggest Asian holders of US debt, to discuss how the rapidly strengthening NT dollar has impacted their operations, people familiar with the matter said. The meeting took place as the NT dollar jumped as much as 5 percent yesterday, its biggest intraday gain in more than three decades. The local currency surged as exporters rushed to