Offshore wind energy developer Wpd Taiwan Energy Co (達能能源) has won approval to invest NT$14.12 billion (US$454.65 million) via Yunlin Holding GmbH to build 80 wind turbines in Taiwan, the Investment Commission said yesterday.
The wind turbines, which are to be installed off Yunlin Country, are to become operational in 2021, the commission said in a statement.
Wpd raised NT$96 billion in July via syndicated loans to finance the development of the nation’s biggest wind farm, which is to have an installed capacity of 640 megawatts.
The commission also approved an investment by Japan’s Shin-Etsu Chemical Co of NT$1.32 billion to expand facilities and add equipment in Taiwan to produce photoresist, which is used in the semiconductor manufacturing process, the statement said.
The capacity expansion comes amid a trade dispute between Japan and South Korea, but Shin-Etsu Chemical did not provide detailed plans about it, commission spokeswoman Yang Shu-ling (楊淑玲) said by telephone.
Taiwan is an option for Japanese chemicals producers to export to South Korea after Seoul placed restrictions on them, including needing government approval.
Denka Co, headquartered in Tokyo, received approval from the commission to invest NT$745 million to manufacture and market medical test solutions.
The commission also approved Formosa Resources Corp (台塑資源), the coal and iron mining arm of Formosa Plastic Group (FPG, 台塑集團), to transfer US$300 million to fund its iron ore mining operations in Australia.
The investment aims to help secure supply of iron ore for FPG’s steel mill business, the commission said in the statement.
Quaser Machine Tools Inc (百德機械) received the commission’s approval to invest US$635 million in Winbro Group UK Ltd to tap into the world’s aviation and industrial turbine generator sectors.
IEI Integration Corp (威強電工業電腦) received approval to invest HK$2.8 billion (US$357.18 million) in an investment arm based in the Cayman Islands to help the company raise funds from overseas markets, the statement said.
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