Last Thursday (8 Sep), ANZCham hosted a business luncheon with Director-General Chen-Wei Yu (游振偉) of the Bureau of Energy, Ministry of Economic Affairs on the topic of Taiwan’s 2050 Net Zero Blueprint – Energy Transition. The luncheon was co-hosted together with the Swedish Chamber of Commerce Taipei and Canadian Chamber of Commerce Taiwan and partnered with the Chamber of Commerce and Industry France Taiwan.
During DG Yu’s keynote, he pointed out that Taiwan plans to have an energy composition of 60-70% renewables, 9-12% hydrogen, 20-27% thermal & CCUS, and 1% pumped hydro in 2050. For offshore wind, 143 wind turbines are currently installed. Taiwan is on track to exceed the cumulative target of 200 turbines by the end of this year. By 2050, Taiwan aims to reach a target of 40-55 GW installed capacity. Taiwan hopes to build operation and maintenance capabilities and access the Asia-Pacific offshore wind operation and maintenance market.
Taiwan is also looking into developing new energy generation systems including hydrogen, geothermal, marine, and biomass energy. For hydrogen, Taiwan will initially source the supply from overseas, then gradually expand its self-production capacity. Meanwhile, the government is working with CPC and Taipower to evaluate the conversion of the existing LNG Terminal into hydrogen unloading facilities and build up hydrogen infrastructure. For geothermal, Taiwan is looking into amending the Renewable Energy Development Act to establish procedures for exploration, development, and operation; as well as, survey the potential drilling sites to accelerate geothermal drilling capacity.
Looking into the future, Taiwan will continue to build up the stability and resilience of the energy system through decentralising the national grid system with a central dispatch control centre supported by regional dispatch centres. In relation to resource integration, the government will also apply and introduce AI and big data analytics to forecast the energy generation and transmission system to improve efficiency and resilience. At the same time, Taiwan will establish an energy trading platform to gradually allow external resources for competition and obtain the necessary auxiliary services to ensure the stability and reliability of the power supply.
The event was also attended by Fredrik Boye, CEO, Swedish Chamber of Commerce Taipei; Diana Lee, Managing Director and Leo Seewald, Supervisor and former Chairman, Canadian Chamber of Commerce Taiwan; Brent Moore, Senior Trade and Investment Commissioner, Austrade; Tina Wilson, Director, New Zealand Trade Development Centre; Patrick Hafenstein, Trade and Investment Commissioner, Trade and Investment Queensland; as well as, our Chairman Jeffrey Chen, Chair of Energy Committee Ryan Chua, and members of the Energy Committee John Duthie, Murray Bowler, Mark Blackburn, and Maya Malik.
This luncheon signifies the launch of the ANZCham Taipei’s newly established Energy Committee. As Australia and New Zealand are Taiwan’s largest energy suppliers, the ANZCham Energy Committee aims to become the focal point for all Australian and New Zealand stakeholders looking to enter Taiwan’s energy market and assist Taiwan to reach its energy goals. The areas of interest include but are not limited to offshore wind, hydrogen, geothermal, energy storage, LNG, and EV.