The Taiwanese government has set an ambitious target of 4GW of total offshore capacity by 2030 to capitalise on its rich offshore wind resources. This is the largest target for any market in the Asia Pacific region excluding China.
To support this target will require comprehensive policy support and an open market that can attract much needed investment to counter the high costs associated with offshore wind development. Plans for the next phase of offshore development, which aims to develop utility-scale projects, is attracting considerable interest from foreign developers and OEMs. Local companies are working to establish a domestic supply chain to cater to these foreign companies but also to directly engage in offshore wind development. Make’s Flash Note examines the drivers behind the interest in Taiwan’s offshore wind market and analyses the future of this emerging sector. MAKE discusses the current costs, latest policy developments, and local supply chain capabilities in the market. The note also discusses competition for turbine supply given the prize of large-scale future projects on offer.
