Taiwan Power Co (Taipower, 台電) yesterday said that it would reduce coal consumption at the Taichung Power Plant to 12.6 million tonnes by the end of this year, while aiming to provide a stable electricity supply for Taiwanese companies returning to invest in the country.
“We are currently setting the goal at 12.6 million tonnes [of coal] for the Taichung Power Plant this year, which is much lower than our original goal of 16 million tonnes last year,” Taipower spokesman Hsu Tsao-hua (徐造華) told reporters at a media luncheon.
Although the number is regarded as relatively easy to achieve, as the plant consumed 12.64 million tonnes of coal last year, Hsu said it could be a hard feat for the company as it seeks to increase electricity generation due to Taiwan’s increasingly hot summers.
Taipower would also need to accommodate growing electricity consumption from Taiwanese companies setting up production facilities nationwide, Taipower chairman Yang Wei-fu (楊偉甫) said.
“We need to be fully prepared, as we expect power consumption to peak between next year and 2022 based on data from the Ministry of Economic Affairs’ Bureau of Energy,” Yang said, adding that the company would increase the proportion of electricity generated by natural gas.
Last month, the Taichung City Government revoked the operating licenses for two of the Taichung Power Plant’s coal-fired generators, after accusing it of contributing to the city’s poor air quality.
“The shutdown of two of our generators has led to a decline of 1.3 percent to 1.5 percent in our power reserve margin, which we seek to keep above 10 percent,” Yang said, adding that the company has applied to appeal the Taichung City Government’s decision.
Meanwhile, Yang said that increases in energy consumption would mainly come from semiconductor firms such as Taiwan Semiconductor Manufacturing Co (台積電).
The company would strive toward reaching the government’s goal of abolishing nuclear power by 2025 and increasing energy from renewable sources to 20 percent of all power generated, Yang said.
Renewable energy sources, including hydropower, solar power, biowaste, geothermal energy and offshore wind power, contributed to about 5.6 percent of the total power generated in Taiwan in the first 10 months of last year, Bureau of Energy data showed.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion