Taiwan’s Ministry of Economic Affairs plans to set a goal of developing further 10GW of offshore wind capacity between 2026 and 2035.
During the inauguration of the Formosa 1, Taiwan’s first commercial offshore wind farm, the President of Taiwan, Tsai Ing-wen, asked the Ministry of Economic Affairs to propose the plan which would see 1GW of capacity added annually from 2026 to 2035.
This is on top of the already set goal of developing 5.7GW of offshore wind capacity by 2025.
The Ministry of Economic Affairs believes that the wind farms to be built from 2026 onward will haver a bidding price lower than than the average price of electricity sold to users in 2025.
The new plan will also contain local content requirements. The government’s current policy of promoting localization has achieved good results, the ministry said.
It has attracted many foreign companies to set up Asia-Pacific production bases in Taiwan, and form strategic alliances with local supply chains to jointly enter the Asia-Pacific market.