On September 10, 2024, GreenHarvest was honored with the Australia-Taiwan Partnership Award at the 19th Annual ANZCham Business Awards, held at the Shangri-La’s Far Eastern Plaza Hotel in Taipei. This prestigious recognition not only highlights GreenHarvest’s steadfast commitment to fostering business ties between Australia and Taiwan, but also acknowledges the company’s significant contributions to the sustainable energy sector.
Since its inception, GreenHarvest has been at the forefront of promoting renewable energy development. Driven by its core values of innovation, collaboration, and sustainability, the company aims to establish itself as a one-stop service provider for RE100 solutions, empowering the Taiwanese government and local businesses to achieve their green transition goals and play a pivotal role in the global energy transformation. With an impressive portfolio of over 300 MW of installed solar capacity, GreenHarvest is on track to introduce more than 200 million kWh of green energy into the market annually.
Photo provided by GreenHarvest
THE ORIGINS OF THE GREEN HYDROGEN PROJECT
Since 2020, GreenHarvest has actively engaged in renewable energy trading, supplying renewable electricity to over 130 locations. Last year, the company partnered with the governments of Tainan City and Chiayi County to launch a renewable energy supply platform aimed at enhancing local businesses’ access to renewable electricity. Through in-depth research, GreenHarvest has identified green hydrogen as a crucial component in achieving 100% renewable electricity penetration in the future.
AUSTRALIA’S GREEN HYDROGEN ADVANTAGE
Photo provided by GreenHarvest
In its pursuit of green hydrogen solutions, GreenHarvest participated in the Taiwan-Australia Joint Energy and Minerals, Trade and Investment Cooperation Consultations, uncovering Australia’s substantial advantages in green hydrogen production. With a land area 130 times that of Taiwan, Australia boasts vast expanses of affordable land and abundant sunlight, resulting in some of the lowest solar power generation costs globally. The cost of renewable electricity in Australia is less than NT$1 per kilowatt-hour, approximately one-fifth of Taiwan’s renewable electricity purchase price. Recent government initiatives, including renewable energy and green hydrogen subsidy programs, have further solidified GreenHarvest’s confidence in investing in Australia’s green hydrogen sector.
INTERNATIONAL COLLABORATION
GreenHarvest prioritizes Australia as a strategic partner. With active support from both the Taiwanese and Australian governments, and after multiple evaluations over a period of a year and a half, GreenHarvest signed an exclusive cooperation agreement in May with Australia’s H2U for a large-scale green hydrogen project. This collaboration will leverage Taiwan’s semiconductor expertise in water resource management and encourage Taiwanese companies to engage in hydrogen production through water electrolysis. Additionally, GreenHarvest plans to offer renewable energy forecasting and power dispatch technologies to optimize the green hydrogen production process, further enhancing the strategic partnership in sustainable energy between Taiwan and Australia.
LOOKING AHEAD: A COMMITMENT TO SUSTAINABLE ENERGY
This award not only highlights GreenHarvest’s achievements in the green hydrogen sector but also underscores the importance of international collaboration in addressing global energy challenges. GreenHarvest looks forward to continuing its mission of promoting sustainable energy solutions while further strengthening the cooperative relationship between Taiwan and Australia.
Chairman KH Chen stated, “This award is a testament to our team’s relentless dedication and innovation. We remain committed to advancing hydrogen energy technology and contributing to the global energy transition.”
UNCERTAINTY: Investors remain worried that trade negotiations with Washington could go poorly, given Trump’s inconsistency on tariffs in his second term, experts said The consumer confidence index this month fell for a ninth consecutive month to its lowest level in 13 months, as global trade uncertainties and tariff risks cloud Taiwan’s economic outlook, a survey released yesterday by National Central University found. The biggest decline came from the timing for stock investments, which plunged 11.82 points to 26.82, underscoring bleak investor confidence, it said. “Although the TAIEX reclaimed the 21,000-point mark after the US and China agreed to bury the hatchet for 90 days, investors remain worried that the situation would turn sour later,” said Dachrahn Wu (吳大任), director of the university’s Research Center for
Alchip Technologies Ltd (世芯), an application-specific integrated circuit (ASIC) designer specializing in artificial-intelligence (AI) chips, yesterday said that small-volume production of 3-nanometer (nm) chips for a key customer is on track to start by the end of this year, dismissing speculation about delays in producing advanced chips. As Alchip is transitioning from 7-nanometer and 5-nanometer process technology to 3 nanometers, investors and shareholders have been closely monitoring whether the company is navigating through such transition smoothly. “We are proceeding well in [building] this generation [of chips]. It appears to me that no revision will be required. We have achieved success in designing
PROJECTION: KGI Financial said that based on its foreign exchange exposure, a NT$0.1 increase in the New Taiwan dollar would negatively impact it by about NT$1.7 billion KGI Financial Holding Co (凱基金控) yesterday said its life insurance arm has increased hedging and adopted other moves to curb the impact of the local currency’s appreciation on its profitability. “It is difficult to accurately depict the hedging costs, which might vary from 7 percent to 40 percent in a single day,” KGI Life Insurance Co (凱基人壽) told an investors’ conference in Taipei. KGI Life, which underpinned 66 percent of the group’s total net income last year, has elevated hedging to 55 to 60 percent, while using a basket of currencies to manage currency volatility, the insurer said. As different
Taiwanese insurers are facing difficult questions about the damage of recent swings in the New Taiwan dollar. Regulators might have a partial solution: letting firms change how they calculate the value of foreign currency assets. The Financial Supervisory Commission (FSC) is considering allowing insurers to use six-month average exchange rates when they calculate risk-based capital in their semiannual reports, a shift from the current system where insurers use exchange rates on the final day of reporting. The change could ease pressure on the US$1.2 trillion insurance sector, whose huge exposure to foreign assets came into the spotlight earlier this month after a