Taiwanese Ministry of Economic Affairs (MOEA) has signed a Letter of Intent (LOI) with France’s Eolfi for the development of floating offshore wind power in Taiwan.
The LOI was signed in Paris on 4 November by the Vice Minister of MOEA Wang Mei-Hua and Alain Delsupexhe, CEO of Eolfi, during the Vice Minister’s European tour which included visits to Germany, the Netherlands and France.
In this LOI, Eolfi has reaffirmed its objective of participating in Taiwan’s transition to renewable energy by deploying 1GW of floating offshore wind power by 2030, which would contribute to 25% of the national target of 4GW to be installed by 2030.
On their part, MOEA has acknowledged that this will be achieved through supporting policies more inclusive of floating offshore wind power technology solutions to maintain a high degree of flexibility; and through facilitating joint investments between Taiwanese companies and Eolfi.
According to the country’s Bureau of Energy, Ministry of Economic Affairs, Taiwan’s offshore wind energy projects are expected to attract TWD 2.5 billion (EUR 70 million) of fresh investments in 2016 and a total of TWD 670 billion of new investments by 2030.