TECO Forays Into Green Power
Echoing the government's vision for a nuclear-free homeland by 2025, the board of directors of TECO Electric & Machinery approved on Nov. 13 investment in a green power plant in a joint venture with a renowned domestic financial holdings company, with initial paid-in capital reaching NT$1 billion. TECO will undertake design, planning, and operation/maintenance of the plant, whose capacity will reach 6-70 MW, capable of generating 80-90 million kilowatts/hour a year, sufficient for power consumption of 22,000 households.
A new company will be set up to handle the project for the generation of green energy, including solar power, wind power, and other renewable energies, in the hope of developing indigenous green-power industry. The project will target the domestic market initially but may extend its reach to Southeast Asia later on, in line with the government's New Southbound Policy.
Thanks to active engagement in the R&D on green-energy products in recent years, TECO has become a major green-energy firm, the only domestic one capable of producing wind-turbine, which already rolled out 2 MW permanent-magnetic wind turbine set back in 2010. In addition, TECO owns the technology for wind-turbine installation and engineering, with the experience of cooperating with domestic and foreign engineering construction teams, capable of handling entire works for the establishment of wind farm, including wind-power study, assessment of wind status, and wind-turbine contract production and operation/maintenance.
TECO also forayed into PV-ESCO (photovoltaic-energy service company) business last year, offering turnkey PV-power services, including planning and establishment of PV power system, equipment procurement, and installation. It has started from installing rooftop PV power systems at its own Kuanyin plant and Chungli plant in Taoyuan City, with installation capacity expected to top 6 MW by 2018.
The project takes advantage of TECO's green-energy technology and experience and the financial wherewithal of the financial holdings and will inject a fresh momentum for the company's revenue from green-energy business.