Solar power supplier Grinnodot Inc (綠點能創) and AU Optronics Corp (AUO, 友達光電) have formed a partnership to speed up solar power installations in Taiwan, addressing the fast-growing demand for green energy.
The collaboration came after Grinnodot in September last year secured a license to retail renewable energy, making it an alternative to state-run Taiwan Power Co (台電) for electricity supply for households and enterprises, the companies said in a joint statement yesterday.
In the initial stage, AUO is to build rooftop solar systems with annual installed capacity of 10 megawatts (MW), mostly for households and individual investors, according to the statement.
Photo courtesy of AU Optronics Corp
Grinnodot builds solar power plants and trades green energy via a platform, called Sunnyfounder, to the public.
The scale should increase over time as Grinnodot also targets local businesses to sell green energy, it said.
AUO is to help build and install solar panels on the roofs of factories and buildings in Taichung.
The project, called “Sun Cake No. 35,” was sold out soon after the project was put on the platform yesterday.
Each solar panel is priced at NT$18,150, with a return set at 6 percent over a 20-year period.
About 249 investors have joined the project, Grinnodot said.
Grinnodot started as a small green energy supplier to households and individual investors, but it is expanding to provide green energy to local enterprises that value environmental sustainability, chief executive officer Edison Feng (馮嘯儒) said.
The alliance with AUO should help the company achieve that goal, Feng said.
AUO provides total solar power solutions from solar modules to power plant construction and maintenance services.
Over the past four years, Grinnodot has built solar panels with installed capacity totaling 15MW, the statement said.
About 50,000 investors have subscribed to solar energy, it said.
Heavy power users are required to derive 10 percent of their power consumption from green energy, according to new rules announced by the Ministry of Economic Affairs early this year.
Those users have to complete installations of green energy facilities by 2025, or acquire green energy certificates, the ministry said.
HSBC Bank (Taiwan) Ltd (匯豐台灣商銀) has approved two sustainability-linked loans totaling NT$450 million (US$15.55 million) for Taya Group (大亞集團) and Sinbon Electronics Co (信邦電子), the bank said yesterday, adding that interest rates would fall if the borrowers’ sustainability performance improves. Those marked the first sustainability-linked loans granted by HSBC Taiwan, it said. While HSBC Taiwan has experience providing green loans for the nation’s developers of renewable energy sources to support their projects, the bank began focusing on sustainability-linked loans to meet rising demand from companies in other sectors planning to undertake sustainability programs, it said. “As we reward our clients who reach their
‘NEW TRAVEL MARKET’: The carrier initially planned to lay off about 8,000 people globally, but after government intervention reduced that to 18 percent of its workforce Cathay Pacific Airways Ltd (國泰航空) would cut 6,000 jobs and close its Cathay Dragon brand, the South China Morning Post reported, as part of a strategic review to combat the unprecedented damage caused by the COVID-19 pandemic. The Hong Kong-based airline is expected to officially announce the plan after the market close today, the newspaper said. It initially planned about 8,000 layoffs globally, but after government intervention reduced that to 18 percent of its total workforce, including about 5,000 jobs in Hong Kong, it said. The company, which posted a HK$9.9 billion (US$1.3 billion) loss in the first half, has for months
V-SHAPED RECOVERY: Local tech firms have benefited from strong demand for 5G deployment and electronic devices required for a low-contact economy, CIER said The Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) yesterday raised its forecast for the nation’s GDP growth this year to 1.76 percent, from its previous estimate of 1.33 percent, saying exports and private consumption have staged a V-shaped recovery from the COVID-19 pandemic in the second half of the year. “The upgrade aims to reflect the fast recovery in Taiwan’s exports and domestic demand,” CIER president Chang Chuang-chang (張傳章) told a media briefing. The Taipei-based think tank said the economy might have expanded 2.77 percent last quarter — emerging from a 0.78 percent decline in the second quarter — and would grow
Hon Hai Precision Industry Co (鴻海精密) founder Terry Gou (郭台銘) yesterday said that the company remains committed to its project in Wisconsin, but appeared to condition its completion on the receipt of state incentives, the Wall Street Journal reported. Gou said in a statement that Hon Hai, known as Foxconn Technology Group (富士康科技集團) outside of Taiwan, remains committed to its investment, although “market conditions and the COVID-19 pandemic” have altered the timing of its expansion and the specifics of its manufacturing plans. The company has over the past three years invested US$750 million to transform southeastern Wisconsin into a high-tech