Taiwan's wind industry braves cross-strait risks in clean energy boom

and generate 40-55 gigawatts through wind power, Taiwan is amending the law to allow the construction of wind farms beyond 12 nautical miles from its territorial baseline and plans to announce a tender for floating wind demonstration projects at the end of this year.

“Real estate for fixed-bottom is becoming exhausted, so you’re moving into deeper waters just by progression,” said BlueFloat country manager Michael Pinkerton. “There is no insurance you can’t buy. It’s a question of whether you want to pay the price,” insurance broker Clive Lin told offshore wind developers in a packed lecture hall in Taipei.Mr Lin, chief technology officer at Alexander Leed Risk Services, recalled how a decade ago he shrugged off foreign investors’ questions about the risk of war with China.

Three foreign energy firms, including two offshore wind developers, had inquired with Leed about political risk insurance for their Taiwan projects since last year, but so far the initial responses from insurers had been negative, Mr Lin told Reuters. Mr Scott Hsu, country director of K2 Management, which advises offshore projects in Taiwan, said few developers consider buying war cover because it would be prohibitively expensive.

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Taiwan's wind industry braves cross-strait risks in clean energy boomTAIPEI: In the port city of Taichung on Taiwan's west coast, a crane hoists into place the end section of a white wind turbine tower that stands almost a hundred metres tall. The turbine will be one of 111 spinning at a multi-billion dollar offshore wind project located up to 60km into the Taiwan Strait, w
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »