Offshore Wind Project Planned for Taiwan

The first steps are in place for the development of Taiwan’s offshore wind potential following the conclusion of a Heads of Terms Agreement by SeaEnergy PLC and Taiwan Generation Corporation (TGC). Under the agreement they will jointly plan, construct, develop and operate offshore windfarm projects in Thailand.

beatriceThe companies will work on a variety of projects, including those currently in TGC’s pipeline, and the first project the two companies will work on is the Changhua Offshore Windfarm, which will have an installed capacity of 600 MW.

The windfarm will initially be owned by TGC and SeaEnergy, though may include other strategic investors in the future. Under the agreement, SeaEnergy has the right to retain 25% working interest in the wind farm developments.

The Changhua project, which will be located in the Taiwan Strait, is expected to require initial investment to complete studies which have already been commenced. These are required to gain a franchise, which equates to regulatory consent, from the Taiwanese government.

Steve Remp, Chairman of SeaEnergy PLC said, “While the SeaEnergy team remain focused on delivering the Scottish Round awards we have already secured, and await the Crown Estate’s decisions regarding Round 3, we are confident we can make a significant contribution to the growing global offshore wind industry.”

beatriceThe move by the two companies follows the Taiwanese government’s Renewable Energy Act in July 2009 which includes a target for 15% of electricity to be generated from renewable energy by 2025. The government forsees a potential of at least 3,000 MW of offshore wind power after it was recognized by the Taiwanese government as the fastest gateway to achieving its goal. It is anticipated a feed-in tariff system will be announced by January 2010.

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