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MOEA plans a new target to develop further 10 GW of offshore wind capacity between 2026 to 2035 -- anticipation of a price drop below the average consumer price
Date: 2020-01-06
The inauguration of Formosa 1, Taiwan's first offshore wind farm, was held on November 12. President Tsai Ing-wen stated that Taiwan will become the green energy development center of Asia and asked the Ministry of Economic Affairs (MOEA) to propose the plan for the next 10-year stage from 2026 to 2035.

Bureau of Energy (BOE) further elaborates as follows:
1.MOEA is fulfilling the 2025 target on schedule, and planning for the next 10-year stage until 2035:
Standing out from all the countries developing green energy, Taiwan is taking the lead of offshore wind in Asia, and stepping forward to plan for the future. MOEA will continue on the path of renewable energy accounting for 20 % of total electricity generation by 2025 (20 GW of PV and 5.7 GW of offshore wind). Furthermore, MOEA is formulating the Zonal Development policy of offshore wind for the next 10-year stage from 2026 to 2035 (1 GW per year).

2.It is anticipated that the price of the 10 GW offshore wind would drop below the average consumer price of electricity:
The bidding prices of offshore wind farms in 2025 are between 2.2 and 2.5 NTD/kWh, which is lower than the current average price of electricity 2.6253 NTD/kWh. The bidding price of the 10 GW offshore wind energy between 2026 and 2035 is anticipated to fall below the average consumer price with international trends and the progress of Taiwan's offshore wind industry.

3.The policy of localization will continue:
The promotion of localization policy has achieved good results and attracted numerous foreign companies to set up Asia-Pacific production bases in Taiwan, and to form strategic alliances with the local supply chain to penetrate the Asia-Pacific market. The government has put forward the vision plan of 1 GW per year from 2026 to 2035, which not only takes the industrial order into account, but also enables domestic and foreign suppliers to take root and carry forward the development of the offshore wind industry in Taiwan.

Spokesperson for Bureau of Energy, Ministry of Economic Affairs: Deputy Director General, Chun-Li Lee
Phone number: 02-2775-7702, 0936-250-838
Email: chunlee@moea.gov.tw

Business Contact: Director, Chung-Hsien Chen
Phone number: 02-2775-7770, 0919-998-339
Email: ctchen@moea.gov.tw

Media Contact: Inspector, Yu-Hsuah Hsia
Phone number: 02-2775-7705, 0910-668-295
Email: yhhsia@moea.gov.tw
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