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

📆 5/10/2023 11:30 PM
📰 Reuters

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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.

TSMC, which accounted for 6.4% of Taiwan's electricity consumption in 2021, told Reuters it continues to pursue long-term green power contracts in Taiwan, aiming to drive the development of domestic renewables.

New floating wind technology will enable deployment into deeper waters, where developers can't install fixed-bottom turbines. While most developers are not scared off by the prospect of war, some are looking to insurance as a way to hedge against the possibility. Orsted's Wang said its wind farms "have insurance coverage for all relevant risks" but did not provide details. An Orsted spokesperson declined to comment on whether the company has political risk insurance for its Taiwan projects.

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