Taiwan Power Co (Taipower, 台電) yesterday announced a plan to issue NT$17.65 billion (US$623.6 million) of unsecured corporate bonds next month, as the state-run utility aims to raise funds to build new liquefied natural gas (LNG) generators at the Taichung Power Plant, a combined-cycle LNG generator project in Taoyuan’s Datan Power Plant, the 7th Transmission and Substation Project as well as other investments.
The debt would comprise NT$3.4 billion of five-year bonds with a yield of 0.45 percent, NT$10.55 billion of seven-year bonds with a yield of 0.55 percent and NT$3.7 billion of 10-year bonds with a yield of 0.62 percent, Taipower said in a statement.
The bond sale would be Taipower’s first this year and the utility would repay bondholders with a lump sum at maturity, it said.
Photo: Lin Jing-hua, Taipei Times
The power generation projects would increase the diversity and strength of Taiwan’s power supply, Taipower said.
The utility has recently completed an ultra-high-voltage transmission line between New Taipei City’s Banciao District (板橋) and Taoyuan’s Longtan District (龍潭), after 18 years of construction.
Inaugurated on Saturday, the transmission line, which spans 105 towers across 40km, is running at full capacity, Taipower said, adding that it would help stabilize the electricity supply in northern Taiwan.
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