The government of the resource-poor nation is eager to develop renewables, and a handful of small European players have already been called on to assist in the development of its fledgling offshore sector.
“Taiwan’s onshore market potential is limited, given its land constraints,” says Yiyi Zhou, a China-based analyst for Bloomberg New Energy Finance. “However, it has potential in offshore development.”
In 2013, the authorities selected domestic developers to build three offshore demonstration projects in the Taiwan Strait. Fuhai Wind Farm will commission the first phase of a 100MW pilot project this year, with completion scheduled for late 2017. Formosa Wind Power will install 128MW, while Taiwan Power Company is planning up to 150MW, with both projects due to be completed by 2020.
The Ministry of Economic Affairs will cover half the cost of the first two turbines to be installed at each of the three wind farms, in addition to a subsidy of up to NT$250m for each site.
Several European companies have already started collaborating on these developments. Danish engineering firm K2 Management and Dutch-German consultancy Wind Minds are providing advisory services to Formosa Wind Power, for example.