Page 8 - AsiaElec Week 04 2022

AsiaElec RENEWABLES AsiaElec

Taiwan’s Ming Rong Yuan NE to

invest $100mn in offshore facilities

TAIWAN TAIWAN’S Ming Rong Yuan NE is to invest GW from offshore wind power. It also plans to
NT$3bn ($108.3mn) in building a research, pro- source an additional 15 GW from offshore wind
duction and storage base for underwater jacket farms from 2026 to 2035, the Bureau of Energy
foundations and renewable energy facilities at has said.
the Port of Kaohsiung. “At this critical moment of the nation’s energy
The Ministry of Economic Affairs said that transition, Ming Rong Yuan NE aims to meet the
InvesTaiwan Service Center had approved the needs of domestic green energy markets, as well
project, which is taking part in a government as prepare for overseas markets in the medium
incentive programme. and long term,” the ministry said in a statement.
The company, a subsidiary of pressure equip- Six other companies were also approved by
ment maker Ming Rong Yuan Business Co., was the InvesTaiwan Service Center on Saturday to
established in June 2021 to produce for offshore create or expand their manufacturing facilities
wind farms. in Taiwan.
Ming Rong Yuan NE completed the con- The six firms are: Kingsway Biotechnology
struction of a factory in Pingtung County’s Co.; Golden Grande Corp.; Charng Chyi Alu-
Sinyuan Township in October 2021 to produce minum Co.; Maxclaw Tools Co.; Feng Ling
tubular steel for jacket foundations and expects Enterprise Co.; and Li Ying Environmental
to begin full operation in the second quarter of Technology Co., the ministry said. Overall,
this year, the company said on its website. the seven companies are to invest a combined
The company has formed a technological NT$4.7bn, it added.
partnership with Belgium’s Smulders Projects, Golden Grande, a maker of personal protec-
and seeks to develop its manufacturing capacity tive equipment – such as masks, protective eye-
and technical base as it looks at offshore wind wear, earmuffs and industrial helmets – plans to
business opportunities in Taiwan and elsewhere invest NT$400mn to install smart production
in Asia, the ministry said in a statement. lines and advanced manufacturing equipment
The investment comes as the government of at its facilities in Tainan’s Syuejia District, the
President Tsai Ing-wen is promoting offshore ministry said.
wind farms as part of its plans to expand renewa- The Invest in Taiwan initiative has to date
ble energy generation while phasing out nuclear attracted 1,170 companies to invest more than
power in Taiwan by 2025. NT$1.65 trillion in Taiwan, creating 130,110
The government wants renewables to pro- local jobs. Six applications to join the initiative
vide 20% of electricity by 2025, including 5.7 are pending, the ministry added.™

P8 www. NEWSBASE .com Week 04 26•January•2022