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By: TNL Daily News
Credit: Reuters / Nicky Loh
Taiwan reduced the feed-in-tariff (FIT) rate and set production caps for offshore wind power firms on Wednesday but backed away from a proposed larger cut that had irked wind power developers such as Danish firm Orsted A/S, CNA reports.
The FIT rate, which governs wind power projects that sign power purchasing agreements with state-owned Taipower, will drop to NT$5.516 per kilowatt hour (kWh) from its 2018 rate of NT$5.8498 per unit.
Danish firm Orsted A/S said on Jan. 2 it would pause two offshore wind power projects in Changhua County over disagreements on the FIT rate.
Orsted Offshore CEO Martin Neubert said in a Wednesday statement the company would attempt to “mitigate the adverse impacts from the production cap and the reduced feed-in-tariff with the objective of making the projects investable.” [FULL STORY]