Market to Watch: Taiwan Offshore Wind

Within a short period of time, Taiwan has emerged as a leading offshore wind market in East Asia due to its ideal conditions for wind energy and the government’s commitment to developing the industry.

In January 2018, the offshore wind energy target was increased to 5.5GW by 2025, and Taiwan continues to ride the wave of its offshore success by increasing their commitment yet again to add a further 10GW of offshore wind capacity off the Asian island between 2026 and 2035.

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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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GWEC launches the Global Wind Gearbox Supply Chain Update as part of its Market Intelligence Platform

This Global Wind Gearbox Supply Chain Update 2019 marks GWEC Market Intelligence’s first component assessment, which is part of GWEC Market Intelligence service that provides a series of insights and data-based analysis on the development of the wind industry.

Gearboxes are a critical component in a wind turbine that helps convert rotational energy into electrical power. Following the growth of global wind industry, the gearbox supply chain has been established first in Europe, then in the US and Asia. The global wind gearbox supply chain will continue to grow as energy demand increases and more wind turbines are installed in new markets to decarbonise our energy system.

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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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GWEC launches Global O&M services report and database as part of its Market Intelligence Platform

O&M plays a massive role in the development of the wind energy industry and the energy transition as it ensures the long-term sustainability and growth of wind power globally. Not only this, but the aftersales and service business has become a strong second leg for the wind energy industry to stand one, with leading wind turbine OEMs generate about one-third of their revenues from their service business, and this share is expected to increase.

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