Taiwan Power Company (Taipower) elaborated a 15-year investment plan to add 3.5GW of renewable energy generating facilities on the island of Taiwan. As part of the plan, Taipower proposed to develop 1GW of solar PV systems by 2030.
Taipower’s TW$400 billion investment will include budge for developing geothermal and offshore wind power technologies within the 15 years period. The company aims to add 2.2GW of geothermal, offshore wind and solar PV generating facilities by 2025, and 3.5GW by 2030, including 1.8GW of offshore wind power plants, 700MW of onshore and geothermal power plants, and 1GW of solar PV systems.
Meanwhile, Taiwan’s new government, which is now led by Tsai Ing-wen, aims to exit nuclear power since 2025. Taiwan’s Ministry of Economic Affairs plans to increase the island’s renewable energy share to 20% by the same year 2025.
In addition to Taipower’s renewable energy investment plans, private companies are also welcome to take part in developing alternative energies. Taipower plans to increase Taiwan’s renewable energy installations to 12.5GW by 2025, in which 6.2GW of solar PV systems. Installation target for all renewable energy resources by 2030 is 17.25GW, including 8.7GW of solar PV projects.
Tsai’s team had revealed an installation target of 20GW by 2025 before the governing team was on board. However, the 20GW target has not officially announced yet.