With significant growth in recent years, Taiwan’s offshore wind market is expected to continue to continually grow, with a goal of achieving 5.5 GW of installed capacity by 2025, said Global Wind Energy Council (GWEC).
Wind energy growth in Taiwan holds potential for substantial local investment in projects, infrastructure, local supply chains and job creation, it said.
If Taiwan reaches its 5.5 GW target, this could bring nearly NT$880bn inward investment and create an estimated 20,000 local jobs due to agreements being signed by Taiwanese supply chain companies.
Shen Jong-Chin, Minister of Economic Affairs for Taiwan, said: “Taiwan has some of the best offshore wind farms located in the Taiwan Strait. To fully explore the potential of wind energy and reach the target of 20% renewable energy generation by 2025, the government has worked on building sound infrastructures and improving regulations to attract investment from both domestic and foreign offshore wind developers."
Ben Backwell, CEO of GWEC, said: “Seeing the ongoing foreign investment in Taiwan confirms its potential to become the second largest offshore market in Asia, as forecasters have rightly predicted, and Taiwan’s economy will benefit massively from these investments.”