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From 0 to 15GW by 2030: Four Reasons Why Taiwan is the Offshore Wind Market in Asia

After Taiwan’s President Tsai Ing-wen’s re-election on Saturday 11 January, we are more confident than ever that Taiwan will continue to be a leader in the energy transition, both in Asia and globally. Three years ago, Taiwan started to transform its energy policies under a clear vision for a clean energy future from the DPP government which has powered the impressive offshore wind growth we have seen in the region and contributed to stronger energy security. With the continuation of the DPP government in office, along with their commitment to offshore wind as shown with the updated offshore target of an additional 10 GW between 2026-2036 announced in November 2019, it is clear that Taiwan will continue rapidly down the path of their clean energy future.

If you are not convinced that Taiwan is the most attractive offshore wind market in Asia, here are four main reasons why.

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Asia-Pacific: Potential to become the leader in offshore wind

Following in the path of solar and onshore wind, offshore wind is now gaining momentum in the race for the energy transition in Asia. In the past year, there has been a wave of studies and reports that confirm that the growth of the global offshore market has exceeded all our expectations – and it shows no signs of slowing down.

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2019 in Review of GWEC Asia​

So far 2019 has been a busy year for GWEC Asia – and it is not slowing down. With the Singapore team and office set up, we have established the South East Asia Task Force, hosted and participated in a series of events and policy engagements in Taiwan, Vietnam and Thailand, as well as signed crucial cooperation agreements with regional partners.

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What’s next for GWEC Asia?

Many people have asked me why GWEC is organising events all around the world and what differentiates a GWEC event from others organised by commercial entities. The answer is simple: GWEC events are organised by the industry and for the industry. On top of this crucial pillar, there are two more fundamental reasons that differentiates GWEC events: high-level government interactions and we are a non-profit organisation providing a voice for the global wind industry.

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Highlights of the Asia Clean Energy Summit 2019 Wind Energy Conference

On 31 October 2019, energy industry leaders gathered in Singapore for the Wind Energy Conference at the Asia Clean Energy Summit (ACES). The conference, co-organised by the Global Wind Energy Council (GWEC) and the Sustainable Energy Association of Singapore (SEAS), featured dialogues on regulatory challenges, project financing and the latest technological advancements in the wind sector.

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GWEC launches Policy Pulse on Vietnam as part of its Market Intelligence Platform

The Global Wind Energy Council (GWEC) has launched a Policy Pulse report on Vietnam, which provides qualitative analysis of the political and macroeconomic headwinds steering the wind sector and the measures needed to unlock greater wind power potential.

Vietnam has one of the fastest-growing energy consumption rates in South East Asia, with a growing population of 96.7 million people and steady economic growth. But its development roadmap, outlined by the National Power Development Plan 7, is currently dependent on coal power. Coal is primed to supply more than half of the country’s power by 2030, leaving Vietnam vulnerable to commercial volatility, climatic risks and political headwinds from trading and development partners.

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China Playing Catch-up in Offshore Turbine Technology

In 2018,11 manufacturers installed 735 units of offshore wind turbines globally, totaling 3,693 MW of capacity. – six out of the top ten suppliers are from China. Those companies are Shanghai Electric, Envision, Goldwind, Mingyang, United Power and XEMC. While China is certainly dominating in terms of supplying offshore turbines, they are still playing catch-up in terms offshore turbine technology.

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Market to watch: South East Asia

Around the world, there is a palpable sense of urgency to accelerate the energy transition. With millions of citizens participating in the #FridaysForFuture movement and still more facing intensifying natural hazards like typhoons, droughts and hurricanes, climate change has become an indisputable condition of our modern world.

Wind and renewable energy have achieved strong progress in cost reduction and deployment so far, however their adoption has not been fast enough to slow the rate of carbon emissions.

Let’s explore the factors that are holding back South East Asia’s wind energy potential, and why we must urgently do everything we can to remove these obstacles for the future of the region.

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