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expected to reach 20 GW and 5.6 GW respectively. basis depending on progress, which will benefit
The Shalun Smart Green Energy Science City cooperation between international and Taiwanese
will be constructed to serve as the hub of an storage systems companies and continue to drive
industrial innovation ecosystem, with a focus on development of the energy storage industry.
the development of energy conservation, energy ¾ Business Opportunities in Offshore Right Moment
generation, energy storage and smart systems Wind Power
integration, creating a green energy industry network
and export center. • Offshore wind power is being implemented in a
three-stage "Demonstration Incentive Program,
Investment Opportunities Zonal Application for Planning and Zonal
Development" strategy to achieve an expected 5.6
¾ Opportunities for Investment in Green GW of capacity by 2025.
Energy • The government has announced operator

• Taiwan has set a 2025 target for green energy selection guidelines for the third-phase zonal
installed capacity; this will stimulate US$60 billion development. Between 2026 and 2035, the
of investment in green energy installations by government intends to build new wind power
that year, and spur opportunities for investment in generation capacity of 1.5 GW every year to
related fields. reach a ten-year total of 15 GW. Operators will be
selected through a process involving qualification,
• To promote the market circulation, amendments then price negotiation. The first phase of capacity
to the Electricity Act were passed in 2017 allowing allocation (grid connection year 2026-2027)
for free trade of renewable energy among power was completed at the end of 2022. A total of
generators and sellers. five operators having signed contracts with the
• Taiwan hopes to attract investment from foreign Ministry of Economic Affairs as of the end of 2023,
manufacturers for fully assembled offshore wind for a total contracted installation capacity of 2,335
turbines, power conversion systems and undersea MW. Also, the operator selection mechanism
cables for wind generation systems; electric power for the second phase of block development was
systems, chassis assemblies, and whole vehicles announced on November 23, 2023 and the results
for electric vehicles; and electrical converters and of the selection are expected in 2024. Such efforts
power storage systems for photovoltaic systems. will continue the steady expansion of Taiwan's
offshore wind power.
• Taiwan's government is implementing a ment
from foreign manufacturers in the areas of Biomedicine
blades, gear boxes, and power generators
for offshore wind power tuvoltaics, offshore
wind power, and the construction of facilities Policy Focus
supporting related research and long-term
development). Based on domestic needs, The Executive Yuan launched the Biomedical Industry
Taiwan will attract domestic and foreign Innovation Program as part of its "5+2" innovative
investment to transform itself into an important industries plan in 2017 to drive the transformation
base for the green energy industry in Asia. and innovation of the biomedical industry. In 2019, it
followed with the Precision Health initiative to guide
¾ Business Opportunities in Photovoltaic Taiwan's biomedical industry towards precision,
Energy personalization and value-based "precision health"
• Taiwan aims to increase its installed photovoltaic development. Starting from 2021, the 5+2 Biomedical
energy capacity to 20GW by 2025, bringing an Industry Innovation Program and the Taiwan Precision
estimated NT$ 40 to NT$ 50 billion in opportunities Health Industry Plan under the Program for
for suppliers of large converters. Promoting Six Core Strategic Industries
has jointly promoted precision health
• In response to ramping up solar panel installations, policies by completing the
Taiwan is promoting equipped energy storage industry ecosystem and
systems, which will be implemented in stages building biomedical
via bidding and capacity allocation, with a total
allocated capacity of 500 MW expected by 2025.
The overall plan will be adjusted on a rolling

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