Northern Power Development Inc yesterday said it plans to invest at least NT$150 billion (US$4.96 billion) to develop offshore wind farms off the Changhua County coast in partnership with Yushan Energy Pte Ltd, taking advantage of the government’s push to promote “green” energy.
Canada-based Northern Power and Singapore-based Yushan Energy in 2015 formed a venture, Hai Long Offshore Wind Farm Project Office (海龍離岸風電計畫辦公室), to facilitate the deployment of more than 100 wind turbines at two sites 40km to 50km offshore.
Hai Long is seeking syndicated loans from global and local lenders, and to offer equities to finance the construction, which is set to begin in 2019.
The turbines, which are to have a total capacity of 1.2 gigawatts, are to start commercial operation by 2023 or 2024, Hai Long chief executive officer Chen Tsung-hua (陳聰華) told a news conference in Taipei.
“We hope to become the first in Taiwan to offer grid-scale offshore wind energy,” Chen said.
Upon completion of the wind farm, Hai Long’s wind power capacity would make up about 40 percent of the 3 gigawatts of wind power capacity the government aims to encourage private firms to install by 2025, Chen said.
That is part of the government’s eight-year plan to boost sources of renewable energy to account for 20 percent of overall generation by 2025, while reducing the nation’s reliance on coal-fired and nuclear power from 45 percent and 12 percent to 30 percent and zero percent respectively.
About 22 companies at home and overseas have submitted plans to build offshore wind farms, according to statistics from the Ministry of Economic Affairs.
Hai Long said it has submitted an environmental impact assessment to the Environmental Protection Administration for review.
It expects to receive approval from the agency by the end of the year and other permits from other government agencies by June next year.
Hai Long is also looking at other sites to build more offshore wind farms, if the government makes areas available, Chen said.
Hai Long has a direct workforce of about 20 people, which is expected to grow to 120, the company said.
Northern Power is considering the establishment of a wind power storage company to help improve management of electricity delivery, Yushan chairman Ian Hatton said.
“We are in talks with a wind farm storage equipment company to form a power storage [entity]. We are still in the initial stages,” Hatton said.
‘ACCORDING TO PLAN’: A company official said that it has set up production sites worldwide to provide services and that its Wisconsin project was going smoothly Hon Hai Precision Industry Co’s (鴻海精密) smart manufacturing center in Wisconsin would begin trial manufacturing in the middle of this year, the company said yesterday, adding that it plans to build a research institute to develop key technologies to support growth over the next five years. Hon Hai, known internationally as Foxconn Technology Group (富士康科技集團), said in an annual report submitted to the Taiwan Stock Exchange that its planned Foxconn Institute for Research in Science and Technology would conduct research into artificial intelligence, next-generation communications, quantum computing, cybersecurity and nano semiconductors in Taiwan. Hon Hai is to make products at the center
TV and online retailer Momo.com Inc (富邦媒體) yesterday said it has set up a new logistics subsidiary, Fu Sheng Logistics Co (富昇物流), to oversee the company’s extensive shipping operations. Leveraging Momo’s 23 satellite warehouses and distribution centers nationwide, Fu Sheng will be in charge of executing the retailer’s same-day shipment plan for deliveries in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung, Momo said in a press release. Seeking to further shorten its supply chain, the company is to set up another seven satellite warehouses and distribution centers by the end of the year. “Fu Sheng has a fleet of 200 couriers
E Ink Holdings Inc (元太科技), the world’s sole supplier of e-paper displays for e-readers and shelf labels, posted its best quarterly net profit for the first quarter in nine years amid increased demand during a traditionally slow season. Net profit soared 80 percent to NT$787 million (US$26.23 million) in the quarter ended March 31, compared with NT$438 million a year earlier. That translated into earnings per share of NT$0.69, up from NT$0.39. E Ink posted lower royalty income of NT$371.23 million last quarter from NT$448.74 million a year earlier, a company financial statement showed. E Ink said that it expects royalty income to
The latest US government action against Huawei Technologies Co (華為) takes direct aim the company’s HiSilicon (海思) chip division — a business that in over the past few years has become central to China’s ambitions in semiconductor technology, but is now to lose access to tools that are central to its success. That could make it the most damaging measure by the US yet against a Chinese company. On Wednesday, US officials told reporters that the Huawei’s chip division functioned as a “tool of strategic influence” for the Chinese Communist Party. Huawei, for its part, denounced the US allegations and called the