Offshore wind coming for Taiwan
TAIWAN - British renewable energy company SeaEnergy said it will build offshore windfarm projects in Taiwan with the Taiwan Generations Corporation (TGC), an energy project development company.
Taiwan's government has set a target to have 15 percent, or 8,450 megawatts (MW), of its electricity generated from renewable resources by 2025. And in August the government said it would invest $45 billion (US$1.4 billion) in the sector.
SeaEnergy and TGC did not place a value on the project.
Shares in SeaEnergy were 6.7 percent up at 51.5 pence in early trade.
The two companies will work together on a variety of projects beginning with the Changhua Offshore Windfarm, on the West coast of Taiwan, to help meet that goal. Changhua will have a capacity of up to 600 MW and will be jointly owned.
"Taiwan represents an opportunity for SeaEnergy to internationalize quickly in an environment where a project can be consented at a reasonably early date and at reasonable cost," Joel Staadecker, CEO of SeaEnergy said.
Separately, Danish wind turbine builder Vestas reported a larger-than-expected rise in third quarter operating profit and stuck to its 2009 guidance.
Related News
N.L., Ottawa agree to shield ratepayers from Muskrat Falls cost overruns
ST JOHNS - Ottawa and Newfoundland and Labrador say they will rewrite the financial structure of the Muskrat Falls hydro project to shield ratepayers from paying for the megadam's cost overruns.
Federal Natural Resources Minister Seamus O'Regan and Premier Dwight Ball announced Monday that their two governments would scrap the financial structure agreed upon in past federal-provincial loan agreements, moving to a model that redirects benefits to ratepayers.
Both politicians called the announcement, which was light on dollar figures, a major milestone in easing residents' fears that electricity rates will spike sharply when the over-budget dam comes fully online next year.
"We…
