EnergyWatch

Taiwan raises the price of offshore wind

Taiwan's government has settled to a compromise between the original feed-in-tariff rate and later price that prompted, among other outcomes, Ørsted to suspend its projects.

Photo: PR Siemens Gamesa

The standstill impacting Taiwanese offshore wind energy projects appears to be nearing an end. Tuesday, the country's government announced a new feed-in-tariff (FIT) for TWD 5.516 (EUR 0.16) per kWh for projects approved with entered power purchase agreement (PPAs) this year. Albeit less than the originally allocated FIT of TWD 5.848 per kWh, the new rate is TWD 0.75 more than the price proposed in the November draft, informs Taiwan's Ministry of Economic Affairs in a statement.

The ministry also writes that other contentious terms have been revised. It is now again possible for projects to receive a differentiated FIT as well as be paid a higher rate during the first ten years of the contract term. After the first ten years, the FIT will then be reduced in line with most of the investment being written off. Specifically, the government is offering TWD 6.2795 per kWh for the first ten years against TWD 4.1422 in the following period.

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