‘BLOW’ TO FINANCING: Developers said that they were also worried about the cancelation of a tiered feed-in tariff scheme, as it was key to winning over lenders

Taipei Times
Date: Dec 01, 2018
By: Ted Chen  /  Staff reporter

Offshore wind power developers yesterday railed against the government’s plans to cut the preliminary feed-in tariff (FIT) by 12.7 percent over the next two decades.

The Ministry of Economic Affairs (MOEA) on Thursday proposed to cap the FIT at NT$5.106 per unit for the next 20 years, drawing the ire of all five developers that are overseeing offshore wind projects in Taiwan.

The change is unacceptable and a significant blow to the viability of ongoing projects and Taiwan’s progress toward renewable energy development, Copenhagen Infrastructure Partners (CIP), Northland Power Inc, Orsted A/S, Wpd Group and Yushan Energy Co (玉山能源) said in a joint statement.

The government’s U-turn has damaged Taiwan’s reputation in the global market and rocked investors’ confidence, as they were duped by the ministry, which originally promised an FIT of NT$6 per unit, the developers said, adding that many are reassessing their investment thesis.    [FULL  STORY]