2020-10-26
Announcement for Framework Governing Phase 3 of Taiwan’s Offshore Wind Power Development Expected
Taiwan's Ministry of Economic Affairs (“MOEA”) has formulated a three-phase strategy to boost development of Taiwan's offshore wind power generation. Preliminary achievements have been reached in phase 1, known as the Demonstration Incentive Program, and phase 2, known as the Zone Application for Planning. It has effectively attracted many developers and service providers to invest in Taiwan.
MOEA is still finalizing the framework for phase 3, known as Zonal Development, which phase may include the goal of allocating an average annual offshore wind power capacity of 1 gigawatt between 2026 and 2035. The power capacity is expected to reach 15.7GW in 2035, and offshore wind power generation is projected to be 59 terawatt-hours annually by 2035. It is expected to attract foreign and domestic investments exceeding NT$ 2.6 trillion and thus creates an estimated 57,000 new jobs.
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