Taiwan's Ministry of Economic Affairs (MOEA) planned a new target to develop further 10 GW of offshore wind capacity between 2026 to 2035 - anticipation of a price drop below the average consumer price.
MOEA is fulfilling the 2025 target on schedule, and planning for the next 10-year stage until 2035, said a government release. Standing out from all the countries developing green energy, Taiwan is taking the lead of offshore wind in Asia, and stepping forward to plan for the future.
MOEA will continue on the path of renewable energy accounting for 20 % of total electricity generation by 2025 (20 GW of PV and 5.7 GW of offshore wind).
Furthermore, MOEA is formulating the Zonal Development policy of offshore wind for the next 10-year stage from 2026 to 2035 (1 GW per year).
It is anticipated that the price of the 10 GW offshore wind would drop below the average consumer price of electricity.
The bidding prices of offshore wind farms in 2025 are between 2.2 and 2.5 NTD/kWh, which is lower than the current average price of electricity 2.6253 NTD/kWh.
The bidding price of the 10 GW offshore wind energy between 2026 and 2035 is anticipated to fall below the average consumer price with international trends and the progress of Taiwan's offshore wind industry.
The promotion of localization policy has achieved good results and attracted numerous foreign companies to set up Asia-Pacific production bases in Taiwan, and to form strategic alliances with the local supply chain to penetrate the Asia-Pacific market.
The government has put forward the vision plan of 1 GW per year from 2026 to 2035, which not only takes the industrial order into account, but also enables domestic and foreign suppliers to take root and carry forward the development of the offshore wind industry in Taiwan.