Taiwan's newly inaugurated government has reaffirmed its commitment to a nuclear-free future, according to the Executive Yuan. Shinfox Energy Chairman Tai-chiang Gou urges the new administration to bolster support for businesses investing in renewable energy, to attract more infrastructure development in Taiwan.
Gou highlighted the challenges faced by Jiuwell Power, a Shinfox subsidiary, in constructing natural gas power plants amid ongoing local opposition. Despite the growing electricity demand, communities resist having power plants nearby. Gou insists that if the government maintains its net-zero emissions and nuclear-free goals, it must provide stronger policy and regulatory support to businesses.
Initially, Jiuwell Power aligned with government directives by securing a contract for a gas-fired unit from Taiwan Power Company. However, subsequent development has been stymied. Gou calls for clear governmental direction and robust support to facilitate future investments in renewable energy, enabling businesses to invest confidently.
Shinfox Energy, which has an extensive presence in the renewable energy sector, is also making significant strides in offshore wind power. Gou noted that offshore wind, in contrast to the unpredictability of solar energy, is gaining traction globally. Shinfox Energy is actively involved in the round 3.2 offshore wind farm auction, with results anticipated in June.
Additionally, a large construction vessel from Shinfox's Singapore-based Shinfox Far East Company is expected to arrive in Taiwan by June. Shinfox Energy stands as Taiwan's sole provider of comprehensive services spanning wind farm development, construction, equipment, and vessels.
The global supply-demand imbalance for large construction vessels, driven by the offshore wind boom, presents further opportunities. Shinfox Energy is engaging with wind power companies in Taiwan, Japan, Australia, and beyond. Gou aims to capitalize on the maintenance and repair demand anticipated by the growing number of offshore wind turbines.
Given the hefty investments required for offshore wind farms, Gou disclosed plans to bring in strategic partners, potentially including entities with green energy needs or financial institutions.
Gou emphasized the critical role of the renewable energy sector in future business ESG strategies and industrial development. As Taiwan advances in high-energy industries like AI and semiconductors, meeting customer demands for green energy in production processes will unlock significant, global business opportunities in the renewable energy market.
