April 25, 2005
Taiwan guarantees renewable energy purchase prices of
NTD 2 or more per unit under the Renewable Energy Development Regulations, Minister of Economic Affairs Ho Mei-yueh stated in early April at a banquet celebrating the beginning of construction on two wind farms in Miaoli County. The
MOEA has introduced these guaranteed prices in order to stimulate the development of renewable energy in Taiwan. It aims to make renewable energy account for ten percent or more of Taiwan's total electricity generation by 2010.
InfraVest, the first private wind power company in Taiwan, started construction of its Chunan and Dapeng wind farms in northern Taiwan in mid-March following four years of preparation. With financing from a group of German banks, the German company raised a total of
NTD 2 billion for this project.
InfraVest will enjoy a guaranteed price of
NTD 2 per unit, with
NTD 1.3 to be paid by Taiwan Power Co. and
NTD 0.7 covered by an
MOEA subsidy. While the
MOEA is still formulating guaranteed price rates under the Renewable Energy Development Regulations, the minimum price will be no lower than
NTD 2 per unit and the maximum may be as high as
NTD 4 per unit. These price rates will vary based on such factors as the form of renewable energy and the location of wind farms.
The
MOEA goal of boosting the percentage of electricity coming from renewable energy to ten percent or more would mean creating a total renewable energy generation capacity of 6.5 gigawatts. The ministry says that Taiwan has the potential to generate up to one gigawatt of electricity from land-based wind farms and two gigawatts from offshore wind farms.
(Central News Agency)
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