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.
Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights. The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights. Airlines are not waiting for a lack of supplies to react. “Travel alert: Airlines are cutting thousands of flights right now,” Travel Therapy host Karen Schaler said in an Instagram reel this past weekend.
MANAGING RISKS: Taiwan has secured LNG sufficient to cover 95 percent of electricity demand for next month, UBS said, describing the government’s approach as proactive UBS Group AG has raised its forecast for Taiwan’s economic growth this year to 8 percent, up from 6.9 percent previously, and said expansion could reach as high as 8.6 percent if external energy shocks are avoided. The upgrade reflects a stronger-than-expected first-quarter performance and sustained momentum in artificial intelligence (AI)-driven exports, which UBS said are providing a firm foundation for growth despite geopolitical and energy risks. Taiwan’s GDP expanded 13.69 percent year-on-year in the first quarter, the fastest growth since the second quarter of 1987, the Directorate-General of Budget, Accounting and Statistics (DGBAS) reported on Thursday. On a seasonally
The list of Asian stocks that benefit from business partnership with Nvidia Corp is getting longer, as the region further integrates into the artificial intelligence (AI) chip giant’s business ecosystem. Just in the past week, South Korea’s LG Electronics Inc, Taiwan’s Nanya Technology Corp (南亞科技), as well as China’s Huizhou Desay SV Automotive Co (德賽西威) and Pateo Connect Technology Shanghai Corp (博泰車聯) have become the latest to rally on news of tie-ups, supply-chain participation or product collaboration with the US chip designer. Asian suppliers account for about 90 percent of Nvidia’s production costs, up from about 65 percent last year, data compiled
The Fair Trade Commission’s (FTC) ongoing review of Grab Holdings Ltd’s US$600 million acquisition of Foodpanda Taiwan’s operations, announced on March 23, has taken on fresh urgency as industry experts warn that the transaction could embed significant Chinese cybersecurity vulnerabilities into Taiwan’s digital infrastructure through Grab’s deep ties to autonomous-driving firm WeRide (文遠知行). Less than 16 months after the FTC blocked Uber Eats’ direct attempt to acquire Foodpanda Taiwan — citing potential combined market shares of 80 to 90 percent — the emergence of Grab as the buyer has prompted questions about whether the same competitive harm is simply being rerouted