Taiwan unveils 8-year wind power development plan

It eyes investing US$22.7b to boost generation capacity to 4,200MW by 2025.

Taiwan's Ministry of Economic Affairs (MOEA) has announced further details of the country's 8-year renewable energy development plan. This is the same scheme that revealed the country's plan to phase out nuclear plants by 2025.

The country plans to raise renewables capcity from its current mix of 4.8% to 20%, whilst the share of natural gas plants will be reduced from the current 50% to 32.4%.

The plan also states that Taiwan aims injecting US$22.7b to boost wind energy to a total of 4,200MW. 1,200MW of this must be from inland wind farms and 3,000MW will be from offshore wind farms by 2025.

In an effort to spur investments, ROIs for offshore wind turbine investors will be slated at 3-5% and the government will be offering a 20-year guarantee to private investors.