Taiwan’s government is starting to map out plans for a power system will increase the share of renewable energy to 20 percent of total power output on the island by 2025, up from 5 percent currently. The Taiwanese government hopes to attract NT$1.8 trillion ($59 billion) of private capital to fund new clean energy projects. Prime Minister Lin Chuan’s administration also aims to lower coal’s share in electricity generation to 30 percent from the current 45 percent, completely eliminate nuclear power, which currently accounts for 14 percent and boost the share of natural gas generation. One challenge will be connecting local banks in areas where projects will be developed, which lack experience financing green energy, with foreign banks that have that experience.
– via Bloomberg