Taiwanese investment in offshore wind to hit $74m in 2016

“Investment in the wind power industry is a huge market opportunity,” said the Bureau of Energy (BoE), an entity under the Ministry of Economic Affairs.

The government aims to eventually scale installations up to 300MW per year, the BoE said.

However, growth will likely remain sluggish this year, according to Dr. Yu-Ti Jhan, an official from Taiwan’s CR Classification Society.

Jhan expects that the country will install just 16MW of offshore capacity in 2016, at Swancor Renewable Energy’s 128MW Formosa 1 project in the Taiwan Strait.

The