Formosa Solar Renewable Power Group

#2023-02-19

【Strategic Style】Deeply Cultivation in Taiwan with Remarkable Achievements, Formosa Solar has won many awards.

Since the second half of last year, the news of the awards received by the Formosa solar renewable power Group has been constantly reported in the media, attracting considerable attention and even continuing into the period surrounding the Lunar New Year.

Formosa solar was established in 2016 with Swiss company Partners Group (PG) as its main investor .PG is a global assets under management of over US$130 billion and is listed on the Swiss Stock Exchange (code: PGHN). Formosa solar has committed to investing at least NT$50 billion in Taiwan and developing over 1 GW of solar power plants.

PG hopes to invest in Taiwan's green energy industry based on solar renewable energy, while considering social responsibility and environmental protection, hence the name "Formosa solar." In fact, for more than six years, Formosa solar has been actively involved in solar power plant investment and management, and is now a benchmark foreign enterprise in the field, with an accumulated power generation of 750 million kWh and a monthly increase of 20 million kWh, ranking among the top performers.

Formosa solar is a leading power generator deeply rooted in Taiwan. The company emphasizes that it will continue to increase the capacity and power generation of its power plants, and build power plants through methods such as improving and utilizing non-arable land and reversing poor land, with the hope that every kWh of electricity generated will be environmentally friendly and contribute to zero emissions.

Ground-mounted PV project are directly installed on the ground, and the height of their steel frames varies according to local terrain and environment. Formosa solar ground-mounted sites are mainly located in non-arable land areas such as salt flats, subsidence areas, sand and gravel mining areas.

Roof-mounted PV project are installed on the roofs of houses or factories. Formosa solar roof-mounted are mainly located on the roofs of livestock farms, schools, and factory buildings. As for the government's solar power plant bids, Formosa solar has participated in the Ministry of Education's college and university roof bids, as well as the Chia Yi Salt Flat bid.

Formosa solar renewable energy plants, whether ground-mounted, roof-mounted, or government bids, all emphasize coexistence and mutual prosperity with the environment. For example, the Chiayi Budai Salt Flats power plant (20 MW) owned by subsidiary Ye Heng Energy occupies 23 hectares, with 30% of the site reserved as an ecological reserve for bird and benthic creatures to inhabit.

During the development phase, the local terrain is preserved as much as possible, and work is halted during bird breeding season. The bird population has increased rather than decreased since the plant started operating. Another example is the Bei Xing Solar Power playground, which was previously the 15th Public Cemetery of Pingtung City. It was won by Formosa solar subsidiary Yu Heng Energy two years ago, and a 1.6-hectare land was used to set up a solar powered playground and public leisure facilities. It was officially opened in October 2022, killing two birds with one stone.

The National Development Council recently announced its net-zero transformation goals and actions for the next stage, raising its 2030 carbon reduction target from the original 20% to 24%, with a margin of plus or minus 1%. Renewable energy will account for 27-30% of the overall power generation, and the installed capacity of solar power devices will be increased to 31 GW.

In light of this, Formosa solar has pledged to continue contributing its expertise and supporting the government's renewable energy policies to help Taiwanese companies efficiently fulfill their ESG responsibilities. After expanding its field operation, investment, and asset management businesses, it has announced plans to deepen its core business development and establish a green energy trading market to provide complete green energy purchase and sales services for enterprises.

In fact, in early 2022, Nanya technology company (2408) announced that it had completed a green energy purchase and sale contract with Formosa solar, securing 250 million kWh of green energy from Formosa solar over the next ten years, equivalent to the carbon absorption of 322 Daan Parks in one year. Formosa solar said that it was happy to assist large electricity users and well-known technology companies in using green energy and was deploying its services ahead of schedule. In line with government policies and the concept of coexistence and mutual prosperity with Taiwan's land, it will continue to form green energy strategy alliances with companies to achieve sustainable development goals together.

Currently, all Formosa solar sites are 100% self-operated. To effectively control the quality of power generation, the group's operation and technology company is responsible for monitoring power generation and field operation management. Formosa solar Power Business Company provides complete purchase/sale power services for enterprises.

Formosa solar's forward looking vision, flexibility, and contribution to the socio-economy have received recognition from various professional award judges. Last year, it won five major awards: TCSA, TSAA, the National Brand Yushan, the Golden Torch, and was shortlisted for the Best Renewable Energy Award of the BCCT. By introducing innovative thinking and leadership methods, Formosa solar is shaping Taiwan's renewable energy industry and continuing to move towards its self-positioning as the "leading investor, owner, and manager of Taiwan's renewable energy market."

 

深耕台灣 成效斐然 寶島陽光獎不停 | 策略風 (strategicstyle.org)

 

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