Solar power developer J&V Energy Technology Co (雲豹能源) yesterday debuted its shares on the Taiwan Innovation Board (TIB), making it the second firm this year to join the start-up board of the Taiwan Stock Exchange (TWSE) after HD Renewable Energy Co Ltd (泓德能源) launched on it last week.
J&V’s shares advanced about 7 percent to NT$103 at the opening, but retreated in the session to close at NT$97 per share, just NT$1 higher than its initial public offering price of NT$96.
Launched seven years ago, J&V Energy started as a solar power developer, but has since diversified into other areas, with its energy storage business growing the fastest lately, company chairman Lai Chin-lin (賴勁麟) told a news conference in Taipei.
Photo: Chen Yung-chi, Taipei Times
The firm is building one of Taiwan’s largest fishery-and-electricity symbiosis projects, with a capacity of 128 megawatts, general manager Chao Shu-min (趙書閔) said.
The company has completed construction of 108 megawatts and would finish building the remaining 20 megawatts next month, he said.
Besides solar power, it has diversified its operations into five additional areas — offshore wind power, energy storage systems, energy trading, water treatment and biomass energy — through mergers and acquisitions, or cooperation with foreign companies and local life insurance firms, Chao said.
The company also plans to build three energy storage projects with a capacity of 100 megawatts each, at a total cost of more than NT$10 billion (US$326.6 million), it said.
However, the company faces challenges in land acquisition, intense competition, huge capital expenditures and a high debt ratio, it added.
The company’s revenue portfolio showed that infrastructure construction accounted for more than 80 percent of its revenue in 2021, while electricity sales made up the remaining 20 percent.
J&V Energy’s revenue last year rose 192 percent year-on-year to NT$6.3 billion, while net profit in the first three quarters of the year was NT$262 million, with earnings per share of NT$2.33.
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