Future Energy- Ocean Energy and Hydrogen in taiwan
what
The Taiwanese government is dedicated to advancing future energy solutions in order to achieve its 2050 Net Zero target and attain a renewable energy share of 60-70% by 2050. As part of this commitment, the government has identified Ocean Energy, along with other renewable sources such as Hydrogen, Geothermal Power, and Bio-energy, as key contributors to the energy transition required to meet these goals. By prioritizing these renewable energy sources, Taiwan aims to diversify its energy mix, reduce carbon emissions, and establish a sustainable and resilient energy system for the future.
how
- About 7 billion USD government budget will be allocated to developing renewable energies and hydrogen by 2030
- Taiwan has clearly specified the target for Ocean Energy of 100KW (2025), 1MW (2030) and 7.5GW (2050). Taiwan is one of the first in Asia set up Feed-in-Tariff (FIT) for Ocean Energy of Euro 215/MWh since 2022 to support the development.
- The target for Hydrogen for power is 891MW in 2030 and 7.3GW in 2050 (9~12% of total) . Taiwan hydrogen development will start with import of grey hydrogen which would requires port infrastructure construction and storage facility. Several pilot-projects from State-Own- Companies like hydrogen co-firing for power generation, hydrogen for steel manufacture and H2 refuel stations.
call to action
Join SPO Renewable project to explore the market opportunity and engage with the key stakeholders.
Contact Martin.Vercouter@business-sweden.se to learn more