Taiwan cuts offshore wind Feed-in-Tariff

In: Windfarms
06/01/2020
Taiwan's Ministry of Economic Affairs (MOEA) has set a new Feed-in-Tariff (FiT) for 20-year offshore wind Power Purchase Agreements (PPAs) signed in 2020. Rates have dropped by as much as 7.64 percent compared to 2019 prices.

Developers have the option to choose between a 20-year flat tariff of TWD 5.0946/KWh or a tiered tariff of TWD 5.8015/KWh for the first 10 years and TWD 3.8227/KWh for the subsequent 10 years.

Taiwan plans to phase out nuclear power by 2025 - with nuclear energy accounting for some 40% of power generation in the past - and aims to source 20% of total energy output using green energy by 2025. This includes 5.7 GW of offshore wind power.

In November, President Tsai Ing-wen requested that the Economic Affairs Minister Shen Jong-Chin formulate a "regional development" policy for offshore wind power as soon as possible and proposed a new goal for the next 10-year stage from 2026 to 2035, adding 10 GW during that 10-year period.

In October, Taiwan's the first commercial-scale offshore wind farm, the
Formosa 1 Phase 2 finished installation work on all 20 turbines. The total power generation capacity for both phases is 128 MW, which is expected to meet the power demand of 128,000 households in Taiwan.

For more information on the Taiwanese offshore wind market
click here. You can also view projects worldwide on 4C Offshore's Interactive map.

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