State-run Taiwan Power Co (Taipower, 台電) is building Asia’s first “virtual power plant,” which would be capable of producing 15 megawatts of electricity per second, the company said yesterday.
The project is expected to come online partially as early as the end of this year, Taipower said in a statement.
A virtual power plant is a network of decentralized units that can aggregate and distribute power as supply and demand fluctuate. Virtual power plants already operate in the US, Europe and Australia.
Virtual power plants create power by storing excess production from solar and wind plants and distributing it when needed, Taipower manager Chang Ting-shu (張廷抒) said.
“If you save some electricity that would have been wasted, that is equivalent to generating that amount of electricity,” Chang said.
The output of solar and wind farms depends on environmental factors rather than demand, and the issue is growing in significance as Taiwan aims to increase the percentage of green power it uses to 20 percent by 2025, Chang said.
“The sun does not shine at night, but you still need power,” he said.
Through a competitive bidding process, Taipower has distributed the project among five Taiwanese companies, which would use batteries from Tesla Inc and Samsung Electronics Co as well as Taiwan’s E-One Moli Energy Corp (能元科技), Taipower said.
The contractors would combine the batteries with automatic frequency control equipment to create systems that would connect to Taipower’s electricity grid to create the virtual power plant, it said.
Taipower historically held a monopoly on power production until 1994, when independent power producers were allowed to join the market. The market was further liberalized in April last year when the Renewable Energy Act (再生能源發展條例) was amended, allowing green energy to be directly traded from independent producers to other businesses.
JPMorgan Chase & Co chief executive officer Jamie Dimon on Tuesday quipped that his company is likely to outlast the Chinese Communist Party (CCP), while reiterating the bank’s commitment to the country in wide-ranging comments that also touched on Taiwan, free speech and former US president Donald Trump. “We hope to be there [in China] for a long time,” Dimon told a panel discussion at the Boston College Chief Executives Club. Relaying a “joke” he made during a recent visit to Hong Kong, he said “The communist party is celebrating its 100th year. So is JPMorgan. And I’ll make you a
Taiwan is to start producing geothermal energy on a commercial scale for the first time in nearly 30 years tomorrow, when an Yilan County facility begins operations. The 4.2 megawatt Cingshuei Geothermal Power Plant in Datong Township (大同) — the first privately built geothermal power plant in Taiwan — was granted commercial license by the Bureau of Energy on Oct. 27, county authorities told the Central News Agency on Tuesday. Lin Kun-wei (林坤緯), a section head at the Yilan Business and Tourism Department, said that the facility would generate up to 3,150 kilowatts per hour, which could meet the demand of up
The Kaohsiung City Government yesterday said it would impose a property hoarding tax as it is seeking to contain speculation in the real-estate market, calling recent price increases “abnormal.” The announcement came in support of the Ministry of Finance’s call for local governments to levy a high tax rate on people with more than one property. Ministry officials on Tuesday discussed strategies to rein in speculation with the nation’s six special municipalities, as well as the Hsinchu city and county governments. About 84,000 out of 1.06 million housing units in Kaohsiung are not residential property, the city government said in a
BOOST EXPECTED: Higher market prices would offset effects of the industry’s transition to more climate-friendly production methods, a company official said China Steel Corp (CSC, 中鋼) expects steel demand to increase on the back of governments around the world subsidizing infrastructure construction amid a stabilizing COVID-19 pandemic, CSC chairman Wong Chao-tung (翁朝棟) told an investors’ meeting yesterday. “After getting through the hard times, I foresee at least one year, very possibly two years, of strong steel market,” Wong said. Calling a dip in steel prices a “short respite for the market,” Wong said that it would likely bounce back early next year on the back of mild winter temperatures around the world allowing construction activity. Despite COVID-19 spikes in some regions and increased