TECO Lands Turnkey Contract for NT$4.46 B. Taipower STATCOM Project


TECO Electric & Machinery Co., Ltd. announced today (July19) that it has landed the NT$4.46 billion turnkey contract for Taipower's STATCOM engineering project in Changhua County.


Sophia Chiu, TECO chairman, attributes the success to its solid strength and track record for electric engineering and its partnership with GE, a global leader for high-voltage electric equipment, noting that after completion, the project will strengthen the nation's grid network, stabilizing power supply.


Scheduled for completion in the first half of 2027, the project consists of a step-up substation and a 161 kV STATCOM, totaling 400 MVAR in scale, half of Taipower's total STATCOM capacity. It is part of Taipower's 10-year project for strengthening the national grid network.


TECO points out that the company has installed offshore wind power's onshore substations totaling 2.5 GW in capacity, the highest in Taiwan and has landed, in partnership with major international firms, the contract for the energy-storage system of the Lungtan ultra-high voltage substation, the largest such facility of Taipower.


On top of new energy, TECO's smart energy business group has forayed in the realm of power-system stabilization engineering in recent years, assuring stable green power supply in the future. It has now set sights on the business opportunities of offshore substations and carbon capture. The group now has a backlog of orders topping NT$30 billion in value.