Taiwan Renewables Report Q1 2016
BMI View: Taiwan is not short of ambition for developing renewable energy, but limited progress has beenmade in the expansion, primarily due to the unstable policy environment and low liberalisation levels in thepower sector. Considering Taiwanese government's focus on offshore wind power and the significant solarpanel manufacturing base in Taiwan, we do expect growth to pick up marginally across these segments overout 10-year forecast period. However, we retain our view that Taiwan will fall short of its ambitiousrenewables targets.
Latest Updates and Structural Trends
We believe Taiwan's pursuit of offshore wind faces significant hurdles, stemming from the highdevelopment costs of the technology and the unstable policy environment for renewable energy. As such,our 10-year wind capacity forecasts remain bearish when compared to government targets.
In September 2015, German firm Siemens has been named as preferred supplier to the second phase ofthe Formosa offshore wind farm in Taiwan.
In September 2015, Taiwanese government further raised its renewable energy targets, which now aim toreach 17,250MW renewables capacity by 2030, which would contribute 26% to the country's total powermix.
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